LendingTree, a loan comparison website, lets you view personal loan offers from up to five lenders — simply fill out our online form.
Written by Alex Cook | Edited by Jessica Sain-Baird | Reviewed March 1, 2023
| Lender | User ratings | Best for | Annual percentage rate (APR) | Minimum credit score | Loan amounts | Loan terms |
|---|---|---|---|---|---|---|
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Quick funding timeline | 8.99%-35.99% | 580 | $2,000 to $50,000 | 36 to 60 months |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Lower income borrowers | 7.99%-24.99% | Not specified | $2,500 to $40,000 | 36 to 84 months |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Fair credit borrowers | 7.99%-35.99% | 640 | $2,000 to $36,500 | 24 to 72 months |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Longest loan terms | 8.99%-25.49% (with autopay) | Not specified | $5,000 to $100,000 | 24 to 144 months |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Good credit borrowers | 8.99%-25.81% (with autopay) | 680 | $5,000 to $100,000 | 24 to 84 months |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Secured personal loans | 8.49%-35.99% (with autopay) | 580 | $1,000 to $50,000 | 24 to 84 months |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Poor credit borrowers | 4.60%-35.99% | 300 | $1,000 to $50,000 | 36 and 60 months |
APR range: 8.99%–35.99%
Loan amounts: $2,000 to $50,000
Terms: 36 to 60 months
Origination fee: 0.99% - 8.99%
Credit inquiry: Soft pull
Minimum credit score: 580
| Pros | Cons |
|---|---|
| Low potential APR for borrowers with excellent credit | High maximum APR for borrowers with fair credit |
| Fast funding timeline in most cases | Personal loans have origination fees |
| There are no prepayment penalties | Not available in IA, VT, WV and DC |
What to know
Best Egg is a fintech company that offers secured and unsecured loans through Cross River Bank, an Federal Deposit Insurance Corp (FDIC)-insured financial institution. If you meet its credit score requirements, Best Egg offers quick funding —they say half of their customers get money the next day. However, its repayment terms are less flexible than some other lenders.
While Best Egg loans aren’t available in some states, most consumers are able to take out loans from the company. In addition to personal loans, Best Egg also offers credit card products.
Eligibility requirements: In order to qualify for a Best Egg loan, you must have a credit score of at least 580, a sufficient debt-to-income (DTI) ratio and meet income requirements. To receive the lowest advertised APR, you’ll need to meet higher credit score and income requirements.
APR range: 7.99%–24.99%
Loan amounts: $2,500 to $40,000
Terms: 36 to 84 months
Origination fee: None
Credit inquiry: Soft pull
Minimum credit score: Not specified
| Pros | Cons |
|---|---|
| Lower APR range than many other lenders | Relatively low maximum loan amount |
| Allows you to prequalify with soft credit inquiry | Doesn’t disclose minimum credit score requirements |
| There are no origination fees for loans | No options for joint applications |
What to know
Discover is best known as a credit card company, but the lender also offers various financial products, including bank accounts and personal loans. Because Discover doesn’t have public credit floors, you might not know if you’re eligible for a loan unless you start the prequalification process, which only includes a soft credit check.
Personal loans through Discover have low maximum amounts relative to other lenders, but depending on how much you need for your medical loan, they could be a good option, given that there are no origination fees and a low maximum APR.
Eligibility requirements: Discover only promotes three specific minimum eligibility requirements, although other factors are considered when the lender reviews your application. You must be a U.S. citizen or permanent resident who’s 18 years or older and has a minimum household income of at least $25,000.
APR range: 7.99%–35.99%
Loan amounts: $2,000 to $36,500
Terms: 24 to 72 months
Origination fee: 0.00% - 8.00%
Credit inquiry: Soft pull
Minimum credit score: 640
| Pros | Cons |
|---|---|
| Offers access to borrowers with lower credit scores | High maximum APR for certain borrowers |
| Doesn’t use a hard credit check for prequalification | Loans may have origination fees, though not all do |
| Fast funding timeline for borrowers | Maximum loan amount is only $36,500 |
What to know
LendingPoint offers loans to borrowers with scores as low as 640. The maximum amount you can borrow is lower than other lenders, though, and you could pay a high APR if you don’t have the best credit history.
Fortunately, you’re able to prequalify and see if you can get a LendingPoint loan without taking a hard credit check. If you do get approved for a loan, watch out for origination fees: you may have to pay up to 8.00% of the loan’s value up front, depending on where you live.
Eligibility requirements: In order to get a LendingPoint loan, you must be 18 years or older, have a U.S. ID and Social Security number. You must also have a minimum annual income of $40,000 and a personal bank account. Residents of Nevada and West Virginia are not eligible.
APR range: 8.99%–25.49% (with autopay)
Loan amounts: $5,000 to $100,000
Terms: 24 to 144 months
Origination fee: None
Credit inquiry: Hard pull
Minimum credit score: Not specified
| Pros | Cons |
|---|---|
| Offers autopay discounts for a low APR | APR is higher if you don’t set up autopay |
| Loans terms range up to 10 years, longer than most lenders | Requires a hard credit check before you know if you’re eligible |
| No origination fees taken from loan | Doesn’t specify a minimum credit score |
What to know
LightStream has some appealing features: you can agree to longer loan terms (up to 12 years) than most lenders offer, the APR range is relatively low and there are autopay discounts. There are also no origination fees or prepayment penalties. If you’re eligible for a LightStream loan, they’re a great option for borrowers.
Unfortunately, you won’t know whether you’re approved unless you take a hard credit check, which knocks your credit score down a few points. And while the lender doesn’t have a minimum credit score, it “only approves good-to-excellent credit profiles” according to its website — and it notes that a high FICO Score may not be enough for approval.
Eligibility requirements: LightStream doesn’t publicly disclose specific criteria for loan eligibility. They do state they assess whether there is a “very high likelihood” the loan will be repaid in full on time.
APR range: 8.99%–25.81% (with autopay)
Loan amounts: $5,000 to $100,000
Terms: 24 to 84 months
Origination fee: No origination fee required
Credit inquiry: Soft pull
Minimum credit score: 680
| Pros | Cons |
|---|---|
| APR range is relatively low compared to other lenders | Higher minimum credit score requirements |
| There are no origination fees required | Minimum loan size of $5,000 |
| You can prequalify without taking a hard credit check | Bank doesn’t have branch locations |
What to know
If you have a sufficiently high credit score, SoFi’s medical loans have an appealing combination of affordable APRs, a wide range of repayment terms and a high maximum loan size. You can prequalify without taking a hard credit check to learn what your loan terms would be.
SoFi is an online bank that started in student loans but has since expanded into bank accounts, investing and other forms of loans, including SoFi personal loans. The company generally offers competitive financial products and its personal loans are no exception.
Eligibility requirements: SoFi requires borrowers to fit certain criteria: you must be the age of majority in your state (18 in most states), a U.S. citizen or eligible resident and you must have sufficient income (usually employment, though SoFi does let you borrow if you have a job offer to start within 90 days).
APR range: 8.49%–35.99% (with autopay)
Loan amounts: $1,000 to $50,000
Terms: 24 to 84 months
Origination fee: 1.85% - 9.99%
Credit inquiry: Soft pull
Minimum credit score: 580
| Pros | Cons |
|---|---|
| Low minimum APR for excellent credit borrowers | High maximum APR for fair credit borrowers |
| Check loan terms without a hard credit check | Every loan has an origination fee |
| Wide range of loan terms from 2 to 7 years | Other lenders have higher maximum loan amounts |
What to know
Upgrade, an online lender, has some unique features relative to other medical lenders. For one, you can use collateral to secure the loan (but you don’t have to), which can help you get a better APR — just make sure that you can make payments, or else you risk losing the collateral. Upgrade loans also have an autopay discount.
Beyond that, Upgrade has a few drawbacks, namely an origination fee that applies to every loan. There’s also a high maximum APR and a higher credit floor than some of the other lenders on this list. Fortunately, Upgrade allows you to prequalify for loans with a soft credit check.
Eligibility requirements: In order to get an Upgrade loan, you must be a U.S. citizen or permanent resident who’s at least 18 years of age — and you need a bank account and email address.
APR range: 4.60%–35.99%
Loan amounts: $1,000 to $50,000
Terms: 36 and 60 months
Origination fee: 0.00% - 12.00%
Credit inquiry: Soft pull
Minimum credit score: 300
| Pros | Cons |
|---|---|
| Quick funding timeline for emergencies | Maximum APR is higher than some other lenders |
| Allows prequalification with a soft credit check | Only offers two repayment terms |
| Available to borrowers with poor or no credit | Origination fee can run high |
What to know
Upstart is a loan marketplace that can connect you to personal loans for medical expenses. Upstart’s partner banks offer a wide range of potential APRs depending on your credit score and some other factors, including your educational attainment and employment status.
Loans through the marketplace are available only in three- or five-year terms, although you can pay off your loan early anytime without penalty. You can prequalify without taking a hard credit inquiry, but origination fees — which may be higher than some competitors — will eat into the amount of your loan.
Eligibility requirements: Upstart has numerous personal loan requirements, but most are attainable: you must have a mailing address, email account and bank account, as well as a full-time job (or job offer) and meet minimum credit requirements. Upstart loans are not available to residents in Iowa or West Virginia.
On this page
What is a medical loan?
How to get a medical loan
Comparing medical loans
Reasons you may need medical financing
Pros and cons of medical loans
Medical loans for bad credit
Alternatives to medical loans
How to prequalify for medical loans
How we chose our picks for best medical loans
Frequently asked questions
A medical loan is a personal loan for medical costs. Personal loans are often unsecured loans, which means they don’t require collateral and can be used to pay for virtually anything, from medical bills to your living expenses during recovery.
Medical loans are a good option if you need money quickly for a medical procedure — you may even be able to get funding the same day you apply for a personal loan.
You can get a medical loan just like any other type of personal loan, through a bank, credit union or online lender. Shop around for the best interest rates for your financial situation using LendingTree.
If you want to compare lenders, you can fill out LendingTree’s online form to compare offers from up to five different lenders. Prequalification does not affect your credit score.
Before signing on that dotted line, you’ll want to be sure you’re getting the best possible offer. Instead of accepting the first offer that comes your way, be sure to compare various packages. Here are a few of the details you should look at closely:
Medical loans can be used to pay for virtually any type of procedure or treatment, from emergency room visits to wisdom tooth removal. You could consider opening a personal loan to cover:
Chemotherapy, dialysis and other ongoing medical treatments
Long-term care, such as physical therapy and rehabilitation
Urgent care bills from unexpected medical emergencies
Infertility treatment, in vitro fertilization
Hair loss replacement, hair restoration
Weight loss surgeries, like gastric bypass or bariatric procedures
Dental procedures, veneers or orthodontics
Cosmetic surgery procedures
Yes, many lenders let you take out a personal loan to pay for medical expenses. There are generally few limits to personal loan uses. They’re unsecured, meaning there’s no collateral. Personal loans for medical bills are backed by your promise to repay the lender. Interest rates can be higher than they would be for a secured loan, which uses an asset as collateral.
A medical loan is a type of personal loan, so it falls under the same guidelines. Without good credit, you may have trouble qualifying for a personal loan at all. If they are approved, those with bad or no credit are likely to pay much higher interest rates than a person with a strong credit profile.
Certain lenders grant bad credit loans, fair credit loans and excellent credit loans.
As soon as you get your hospital bill, call the provider’s billing department. Many medical offices offer bill reduction and sometimes even forgiveness, depending on your ability to pay the balance.
Some hospitals even have financial assistance programs to help people who can’t afford the care they need. You may qualify if you’re uninsured or if you owe a significant amount after insurance.
You can negotiate the balance down with the hospital’s billing department, open a personal loan to pay the balance or pay your medical bills with a credit card.
First, try contacting your creditor’s billing department (your doctor’s office, a hospital, lab or similar facility) to try to negotiate the balance down. Hospital bill reduction is common, so give this a try before exhausting your other options. You may also be able to set up a no-interest payment plan through the medical provider.
Another option is to open a personal loan to pay your medical bills. You’ll end up paying interest on a personal loan, which means that the bill will cost more over time — and if you have poor or no credit, you may not qualify for a personal loan at all. But if you need quick funding and want a set personal loan monthly payment, then a loan can be a good option.
Finally, you can pay with a credit card. Some doctors’ offices partner with medical credit card companies, like CareCredit, which offer deferred interest for a set amount of time. However, if you miss payments or don’t pay off the balance by the end of the grace period, then you’ll end up paying interest and penalties.
Mortgage lenders look at a number of factors — credit score, recent mortgage applications and job changes, among them. But most importantly, they look at your DTI ratio.
Medical debt does factor into your DTI. In addition, unpaid medical debt can also have a negative effect on your credit score, which can affect your ability to qualify for a mortgage.