LGBTQ+ Family planning
Expand your family with financial confidence.
Find the right financing for expanding your family so you can focus on what matters.
Budgeting for LGBTQ+ paths to parenthood
Family planning that involves private adoption, foster-to-adopt options, surrogacy or assisted reproduction can carry high costs. Budgeting and saving for these costs and other financial considerations can help you reach your goals.
Common costs and considerations for your path
How much does it cost to adopt a child?
If you go through an agency, the average cost of private adoption in the U.S. is between $30,500 and $48,500, according to Adoption.org. If you pursue adoption independently, costs can be lower: estimates range from $25,000 to $38,000.
How much does in vitro fertilization (IVF) cost?
If your health plan doesn’t cover assisted reproductive technology, you could expect fees of $12,000 to $17,000 per cycle. If you need donated biological material like eggs or sperm, costs will be higher. Be sure to ask your employer what benefits are available to you.
How much does a surrogate cost?
The estimated cost of a surrogate ranges from $100,000 to $150,000. It depends on the number of attempts to achieve a pregnancy.
All of these paths involve emotional and financial decisions. That’s why our goals coaches are here to help you understand your financing options and create your personalized financial plan.
Learn more or make an appointment to talk to a coach.
What are your financing options?
You don’t have to resort to credit cards or your 401k to fund growing your family. Once you understand the costs of growing your family either through adoption, surrogacy, IVF or another path, you have other options and can make a financial plan.
- Start with a simple savings plan or meet with our bankers or goals coaches to look at your financial picture.
- Use our rate and calculator tools to get recommendations for a loan or line of credit.
- Consider using a variety of funding options. You can use the money however you need for your family goals.
Personal loan
Whether for LGBTQ+ adoption, surrogacy or IVF, this loan option gives you one-time funding for whatever your needs and you’ll pay the same amount every month.
Check your rate before completing a full application to see what you may be eligible to borrow. It won’t affect your credit score.
Personal line of credit
If you don’t yet know the full cost of the parenthood path you’ll take, you can enjoy a little more flexibility with this option to access funds when you need them.
Before you apply you can check your rate for a personal line of credit and see what you may be eligible to borrow. It won’t affect your credit score.
Home equity loan
Use equity in your home for family planning expenses. This option offers fixed rates and payments during your journey.
Home equity line of credit
Another way to use funds for family expansion when you need them and only pay interest on what you borrow.
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How you can improve your credit score.
Explore six simple ways to build and maintain good credit.
How you can build and maintain a solid credit history and score.
Get started with these five easy steps.
What’s a good credit score?
Know your score range before applying for loans and lines of credit.
Get answers to common questions about your financial options.
Applying online, by phone or in person for a personal loan or line of credit only takes a few minutes and is issued based on your creditworthiness.
For a home equity loan or line of credit, you can apply online, by phone or in person. The length of time to process the application varies depending on your situation. Once you’ve signed the documents at closing, the funds will be available after a waiting period of three business days on accounts secured by a primary residence.
The primary loan applicant (or primary borrower) is the person seeking the loan. A secondary or co-applicant – otherwise known as joint owner – might help the primary borrower’s chances of securing a loan. Loans are issued based on each applicant’s creditworthiness and the responsibility of each person on the loan is the same.
Learn more about applying for a loan with a co-borrower.
Once your personal loan or line of credit is approved, you can log in to the U.S. Bank Mobile App or online banking and follow these steps to make a one-time payment. You can also set up autopay.
For home equity loan and line of credit one-time payments, follow these steps or see our FAQ for more payment details.
Personal and home equity loans have a fixed Annual Percentage Rate (APR) that’s based on credit score, loan amount and term. Personal and home equity lines of credit have a variable APR that’s based on Prime Rate (the index), credit score and credit amount.
You can check your credit score through a variety of services, or we can help.
Your credit score is calculated based on your credit reports, which are compiled by credit bureaus like Equifax, Experian and TransUnion. You can get your credit score for free anytime from each of the bureaus as well as learn more about credit scores and get a free copy of your report every 12 months. Review your report to make sure all of the information is accurate and to keep track of your credit profile.
U.S. Bank customers can monitor their credit score for free1 through the U.S. Bank Mobile App or online banking. Log into mobile or online banking and select Credit score under Shortcuts.
The credit score offered by the bureaus is for educational purposes, and is not necessarily the score used by banks to make credit decisions. You can check your credit score as much as you want without it affecting your score.
There are several simple ways to build and maintain your credit:
- Know what determines your score. Most credit scores are known as FICO Scores and are based on your credit reports.
- Pay your entire balance on time every month.
- Make sure your credit card limits don’t exceed the money in your savings account.
- Try adding even a small amount to your minimum payment each month for bills, loans and debt.
- Review your credit reports every year.
- Don’t open too many accounts at once.
Your credit profile and credit wellness are about how you use your credit – money that's loaned to you by a bank, a credit card or a loan.
Start small and secure. Secured credit cards or loans are accounts where you're getting credit, but it's tied to a cash deposit that the lender can easily collect if you don't make your payments. This can be a great way to start building your history. If you pay your secured card on time, eventually you will be able to qualify for unsecured credit.
Another option might be to co-borrow with a person who has established credit history. Or if you’re a new American resident, you might have a relative or someone who has lived here longer co-sign for you on a loan or credit card to help you get established.
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