We live in a world that is sinking in debt, however I strongly believe that not all debt is bad debt. If you own your own home and are financially secure, taking out a home equity loan with a low interest rate to finance your adoption seems like a wise move to me. Not only will you realize your dreams of becoming parents sooner than you would if you had the cash up front (and who of us just has tens of thousands of dollars laying around?!?!,) but it can also have tax benefits.

There are also a handful of private adoption loans out there. Since these loans are unsecured, they often have high interest rates. Sometimes it could make better financial sense to use a low rate credit card versus a high rate adoption loan. All situations are different, but there are many options out there for people with all kinds of credit.

Here are some private adoption loans you may wish to look into:

A Child Waits Foundation - offers low interest loans specifically for families adopting internationally

Oxford Adoption Foundation – offers low interest loans for families adopting internationally – loans through this foundation are not funded until after the adoption is finalized in country.

National Adoption Foundation – offers credit cars as well as unsecured adoption loans

Old National Bank – this bank offers Home Equity Lines of Credit as well as personal loans that are specifically for adoption costs. They appear to be affiliated with Families Thru International Adoption agency and their services are only for a specific geographic area.

This page on Adoption.com offers information about using a Home Equity Line of Credit, Home Mortgage Refinance and Credit Cards to help fund your adoption.

As with any major financial decision, please be sure to do your homework. Talk with your financial planner to see which move may be best for your family.

More Reading:
Adoption Fundraising: What Worked For Us
How Can I Afford to Adopt?
Adoption ABC’s – Money

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