Best Adoption Loans You Should Consider Getting in 2021

Best Adoption Loans: Every year, thousands of individuals and couples, in a struggle to become parents get so interested in adoption. Adoption can be very expensive and stressful and moreover, there is no guarantee of success.

Best Adoption Loans You Should Consider Getting

The adoption process can take a few months or even couples of years and through out this period, there are various charges and expenses which must be paid. This can cause financial struggle especially for people with a limited source of finance. Fortunately, there are adoption loans and even other alternatives to help.

7 Best Adoption Loans


Stilt is an online lender that has its services specifically for immigrants and visa holders. Instad of focusing focusing entirely on credit score, when going through an application Stilt takes a comprehensive approach.

Stilt, therefore, does not have a hard minimum credit score. Also, Stilt has no prepayment charges and keeps term lengths relatively short to shorten interest payments.

  1. Maximum Loan Term: 2 years
  2. Interest Rates: 7.99%-15.99%
  3. Credit Score: No hard minimum

Stilt does not demand for a social security number or green card, so noncitizens and visa holders have the best opportunity of getting accepted for an adoption loan with Stilt.

The lack of prepayment penalties and short-term lengths means that you will incur minimal extra costs outside of the principal loan amount. Stilt also offers low interest rates, and the lack of a hard minimum credit score gives a great opportunity to individuals who may otherwise be denied loans.

America’s Christian Credit Union

America’s Christian Credit Union is a lender that gives its services to the Christian community. Applicants must be a member of the credit union, which means he must open a checking account. America’s Christian Credit Union also offers a relatively large amounts and long-term lengths, as well as low interest rates.

  1. Max Loan Term: 7 years
  2. Interest Rates: Starting at 5.99%
  3. Credit Score: No hard minimum

Christians, in particular, who are part of a Christian credit community, should look to America’s Christian Credit Union. If you open a checking account, America’s Christian Credit Union can give you access to low interest rates. Their terms of service also allow for lower monthly payments.


Avant is a well-established online lender and is known for a high customer satisfaction rate. Available in 46 states, Avant does not have the lowest interest rates but considers even applicants with relatively poor credit.

  1. Max Loan Term: 5 years
  2. Interest Rates: 9.95% to 36%
  3. Credit Score: 580 to 700

Borrowers with poor credit have a good chance of getting accepted for a loan with Avant than it is with most other lenders. Avant also has great customer service, with no prepayment charges, fixed rates, and a quick and simple process of application.


SoFi is one of the most popular online lenders, has disbursed over $14 billion in loans across 47 states. With a member base of over 200,000, SoFi is a very reliable name in online lending but also has relatively high eligibility requirements. although SoFi offers a wide range of benefits, many will be unable to qualify.

  1. Max Loan Term: 7 years
  2. Interest Rates: 6.99% to 14.87%
  3. Credit Score: 690 or above

Borrowers with a good credit scores will benefit from choosing SoFi because of the benfits that they offer. This includes an employment insurance  program that gives you a grace period from repayment if you lose your job. You can also adjust your monthly payment date and then qualify for a reduced interest rate if you set up autopay.


LightStream is a division of SunTrust Bank that makes provision for adoption loans at fixed rate terms. LightStream gives competitive rates, favorable terms, and extensive borrowing limits.

Also, LightStream is known for their responsive customer service and their amazing application process.

  1. Max Loan Term: 7 years
  2. Interest Rates: 3.34% to 16.99%
  3. Credit Score: No hard minimum

Since LightStream gives out amounts up to $100,000, they are great choice for borrowers who need funding for all of the processes that are involved in adoption.

This funding can also be obtained immediately with LightStream’s same-day funding process. LightStream does not have a hard minimum credit score as well, so people who may have difficulty qualifying for other lenders should try LightStream.


Upstart is a lender who takes more than just credit score into account. Upstart has built more inclusive criteria for eligibility, By considering your education and academic performance, work history, and future employment prospects.

  1. Max Loan Term: 5 years
  2. Interest Rates: 4.93% to 29.99%
  3. Credit Score: 620 or above

Upstart offers a few of the lowest starting interest rates and relatively high maximum amounts, making them a great choice for adoptive parents who have to borrow large amounts. Also, Upstart considers borrowers with credit as low as 620, so borrowers who don’t have excellent credit can apply to Upstart. isn’t a direct lender, but it is a  platform that connects borrowers with private lenders. With, you fill out an application and you get matched with a lender who fits your circumstances.

You can receive your funds within a single day, and will provide various loan offers from multiple lenders.

  1. Max Loan Term: 6 years
  2. Interest Rates: 5.99% to 35.99%
  3. Credit Score: No hard minimum

How Adoption Type Affects Cost

There are several ways you can pursue adoption, and the specific pattern you take will impact your financing. Here are three different types of adoption:

How Adoption Type Affects Cost

Foster Adoption

Foster adoption typically comes with fewer low costs. When you adopt through foster care, the cost of a home study and other expenses are often take care of by the foster agency.

You have various options of using a private agency to help speed up the foster adoption process. This will cause you to obtain extra fees, but you may be able to receive reimbursement from the state once the adoption has been finalized.

The child will come to live with you as a foster child when you have begun the adoption process. Foster adoption benefits involves monthly payments to help cover the cost of the child’s care; the child will also have access to medical care. Once the adoption is final, you’ll continue to receive financial and medical help.

Domestic Adoption

Most parents want to adopt an infant through private domestic adoption and they will use an agency or adoption lawyer to assist them during this process. This is a more pattern to follow.

For a private adoption, the costs can range upwards of $40,000. Most of these expenses are adoption agency application and program fees; however, the costs could actually be higher depending on the birth parents’ medical expenses.

Agency fees usually start somewhere between $15,000 and $20,000. Some agencies will even offer a sliding scale where the costs are based on your income.

International Adoption

The price of an international adoption is highly dependent on the country you’re adopting from. The adoption chart here is a helpful resource that outlines the average costs of each country.

5 ways to keep adoption costs down

Adopting a child might be expensive, but there are ways to lower the cost or make a large loan a little more manageable:

  1. Adopt a waiting child currently in foster care. In this situation, the public agency would complete the home study section of the process at no extra cost. If you and the child live in the same county or state, the agency might also cover post-placement supervision costs.
  2. Apply for a tax credit. While this may not cover the initial cost, it can lower your tax bill — making the budget during your first year as a family a little more affordable.
  3. Build your credit. The better your credit, the lower your interest rate whenever you apply for a loan. While you’re working on saving for the new addition to your family, take extra steps to improve your credit to increase your chances of qualifying for a competitive interest rate.
  4. Look into employer benefits. Some of the employers offer financial assistance for prospective adoptive parents. Looking into an adoption program sponsored by your employer can easily cut down on adoption costs.
  5. Find a grant. Many national, state and local organizations offer free money to families trying to adopt. Take your time to research and apply for as many as you can because every little bit can help.

Bottom Line

Best Adoption Loans bottom line

Unless you decide to adopt through the foster care system, it’s likely that your adoption costs will be quite expensive. Working with a private agency to adopt domestically or abroad can cost much more.

If you need to pursue more financing options, applying for an adoption loans could be a great choice. Just make sure you have reviewed the repayment terms and are compare loan offers before signing your loan agreement.

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