Ohhhhhh today is a lot. I received the financing options that the Fertility Clinic of Las Vegas work with. I began calling to see what the rates are, the loan terms, etc. I also called One Nevada Credit union; my car loan is through them and is AWESOME so I figured I'd check for this too. NOT awesome is what that is. 8.75% APR that is non negotiable nor dependent upon your credit score. That is for the Select Line of Credit- the only one that is large enough for this.
How much do I need? Well, thats a good question! The cycle itself is not covered by my insurance at all. I have amazing insurance that covered all the diagnostics which were pricey, but not the actual procedures. It kicks in again to awesomeness once pregnant. So I'm looking at approx $15k for the IVF plus anywhere from $5k-$7k for the meds. But that is dependent upon if I qualify for a discount meds program and also upon which pharmacy I get the meds from. There are no generics.
So, here is what I learned this morning:
ASK QUESTIONS. a lot of them. I called the clinic and spoke to Christie, the IVF Coordinator (who is so kind and amazingly helpful) to inquire about med costs. She broke it down for me about the costs varying and is sending me the info about what I will be taking. Also, she's having the different pharmacies call me with their quotes so I will know, as well as If I qualify for the discount program, then she'll tell me what difference that will make.
Why is this important? It is important because when I apply for a loan, I want to apply for the amount closest to what I need and not more, because then I have to pay that. But with the variables in meds costs, that loan amount varies, so I am sitting here on my couch waiting for data. Its a lot. A lot of paperwork and money and information and figuring it out. There's no handbook on how to do this, so I cried- for approx one min- in frustration and overwhem-yness (totally a word). Then, back to data gathering so I can be smart about paying this IVF cycle.
When calling the financing options, ask them these questions:
- What are your loan terms?
- Is there a grace period, where if I pay it off there's no APR? (say, if I pay it off in 6 months is there no interest?)
- If the first cycle of IVF doesn't work, can I take out a second loan with you before the first is paid off? IF yes, what is the waiting period between loans?
- How much do your loans go up to?
- What is the APR (annual percentage rate) range? Is it fixed?
- Is the credit inquiry soft (it does NOT affect my credit score) or is it a hard inquiry (it DOES affect my credit score)
- Does this loan come to me or pay direct to the provider?
- Can my family apply for a loan to finance this if they want to? How do you handle this with this clinic?
Also- please note- Zach from the New Life Fertility Finance is the least helpful human ever. If he answers, ask for someone else. ugh.
As of this morning, Prosper Healthcare Lending is looking the best. I need to apply to see what the approval is and the APR. They range from 5.99%(the lowest yet) to 36% (WHAAAAAT????)
So, pulling up my bootstraps and moving ahead. Remember- its a lot. Its not fun to figure out. Breathe. Just Breathe. It's going to be ok. xoxoxoxxo