Dental Financing: Best Loans for Dental Costs
8.99-29.99%
$5K-$100K
None
Qualified borrowers will find few lenders better than SoFi, thanks to thoughtful perks like unemployment protection and free financial advising.
- Must be at least 18 years old in most states.
- Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
- Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
- Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
- Origination fee: 0% to 7%.
- Late fee: None.
9.06-35.99%
$1K-$40K
600
LendingClub is a strong option for good-credit borrowers who need a small- to medium-sized loan.
- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
- Origination fee: 3% to 8%.
- Late fee: 5% of payment or $15 after 15-day grace period.
- Insufficient funds: $15.
9.99-35.99%
$1K-$50K
580
Upgrade accepts bad- to fair-credit borrowers. Loan amounts for dental financing range from $1,000 to $50,000.
- Minimum credit score: 580.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
6.99-25.29%
$5K-$100K
660
LightStream targets strong-credit borrowers with no fees, low rates and large loan amounts.
- Minimum credit score: 660, but can vary depending on the loan purpose and amount.
- Maximum debt-to-income ratio: 50%.
- Minimum credit history: 3 years.
- Income sources accepted: Employment, retirement, rental income, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident who is at least 18 years old and has a U.S. bank account.
- Origination fee: None.
- Late fee: None.
Prosper accepts borrowers across the credit spectrum and offers competitive rates and fees, plus instant approval.
- Minimum credit score: 560; borrower average is 705.
- Minimum income: No minimum requirement; borrower average is $131,000.
- Maximum debt-to-income ratio: 50% (excluding mortgage); borrower average is 41.6% (including mortgage).
- Must be at least 18 years old.
- Must provide Social Security number and a U.S. bank account.
- Origination fee: 1% to 9.99%.
- Late fee: The greater of $15 or 5% of the unpaid amount.
- Insufficient funds fee: $15.
- Mailed-in payment fee: $5.
8.99-29.99%
$2K-$45K
640
Rocket Loans personal loans stand out for fast funding, but they lack some features other lenders offer.
- Minimum credit score: 640.
- Minimum annual gross income: $24,000.
- Maximum debt-to-income ratio: 40% or 70% including a mortgage.
- Minimum credit history: 2 years.
- Must be at least 18 years old.
- Must be a U.S. resident living in one of the states where the lender does business.
- Origination fee: Up to 9%.
- Late fee: $15.
- Non-sufficient funds fee: $15.
Qualified borrowers will find few lenders better than SoFi, thanks to thoughtful perks like unemployment protection and free financial advising.
- Must be at least 18 years old in most states.
- Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
- Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
- Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
- Origination fee: 0% to 7%.
- Late fee: None.
LendingClub is a strong option for good-credit borrowers who need a small- to medium-sized loan.
- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
- Origination fee: 3% to 8%.
- Late fee: 5% of payment or $15 after 15-day grace period.
- Insufficient funds: $15.
Upgrade accepts bad- to fair-credit borrowers. Loan amounts for dental financing range from $1,000 to $50,000.
- Minimum credit score: 580.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
LightStream targets strong-credit borrowers with no fees, low rates and large loan amounts.
- Minimum credit score: 660, but can vary depending on the loan purpose and amount.
- Maximum debt-to-income ratio: 50%.
- Minimum credit history: 3 years.
- Income sources accepted: Employment, retirement, rental income, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident who is at least 18 years old and has a U.S. bank account.
- Origination fee: None.
- Late fee: None.
Prosper accepts borrowers across the credit spectrum and offers competitive rates and fees, plus instant approval.
- Minimum credit score: 560; borrower average is 705.
- Minimum income: No minimum requirement; borrower average is $131,000.
- Maximum debt-to-income ratio: 50% (excluding mortgage); borrower average is 41.6% (including mortgage).
- Must be at least 18 years old.
- Must provide Social Security number and a U.S. bank account.
- Origination fee: 1% to 9.99%.
- Late fee: The greater of $15 or 5% of the unpaid amount.
- Insufficient funds fee: $15.
- Mailed-in payment fee: $5.
Rocket Loans personal loans stand out for fast funding, but they lack some features other lenders offer.
- Minimum credit score: 640.
- Minimum annual gross income: $24,000.
- Maximum debt-to-income ratio: 40% or 70% including a mortgage.
- Minimum credit history: 2 years.
- Must be at least 18 years old.
- Must be a U.S. resident living in one of the states where the lender does business.
- Origination fee: Up to 9%.
- Late fee: $15.
- Non-sufficient funds fee: $15.
How do dental loans work?
A dental loan can be a fast and flexible way to pay for dental expenses not covered by insurance. Among the procedures a dental loan might cover are:
Dental implants.
Veneers.
Teeth aligners.
Braces.
Dental crowns.
Emergency procedures.
Online lenders, some banks and credit unions offer personal loans that can be used for any purpose, including dental care. Personal loan rates generally range from 6% to 36%, and terms can be two to seven years.
To qualify you, lenders consider your credit score, income and existing debts. If approved for a dental loan, you’ll receive the money in a lump sum in your bank account, typically within a few days. You then use the loan proceeds to pay for dental or orthodontic care. Going forward, you’ll make fixed monthly payments to your lender until the end of the loan term.
Each type of lender has different borrower requirements, rates and loan terms, so it’s best to pre-qualify with multiple lenders to see potential loan offers and compare options to find a loan with monthly payments that fit your budget.
How to compare personal loans for dental work
Annual percentage rates and fees. A personal loan's APR can be higher than its interest rate because it reflects the entire cost of a loan, including any fees. Some lenders charge origination fees ranging from 1% to 10% of the loan amount. Other possible fees include late payment and returned payment fees.
Borrower requirements. Some lenders have minimum income or credit score requirements. Or they may allow a maximum amount of debt compared to your income, expressed as a debt-to-income ratio.
Time to fund. While some lenders offer same-day funding, others can take up to a week. You can speed up the application process by gathering all the required documents before applying and promptly responding to lender questions.
Repayment term. A longer loan term can mean smaller monthly payments, but it can also result in more interest over the life of the loan.
For example, a $2,500 loan with a five-year term and 8% APR will require a $51 monthly payment and cost $541 in total interest. The same loan with a seven-year term would put the monthly payment at $39 but cost $773 in interest.
» MORE: Best medical loans
How to apply for a dental loan
Check your credit report. You can get your free credit report on NerdWallet or at AnnualCreditReport.com. Review your report and fix any errors before you apply.
Calculate your loan payments. Use a personal loan calculator to estimate monthly payments on personal loans with different rates and loan terms. Identify an amount and term that works with your monthly budget.
Pre-qualify. Compare rates and offers with multiple online lenders to find the lowest interest rate. This part of the process involves a soft credit check, which won’t affect your credit score.
Select a lender and loan option. Pick the loan with the rate, monthly payment, loan amount and term that best covers the dental work you need and fits your budget.
Complete and submit the application. Most lenders will let you apply through their website, while some banks or credit unions may ask you to apply in person. Read and understand the fine print of your loan before you submit an application. The lender will do a hard credit check, which may drop your credit score by a few points.
Once approved, depending on the lender, you may receive your loan within a day or two.
Dental loans for bad credit
Borrowers with fair or bad credit (a score of 689 or below) can apply for a dental loan, but you’ll likely get a rate on the high end of a lender’s APR range.
Some bad-credit lenders may look beyond credit score and consider other factors like cash flow, employment and education history, which can help your chances of approval.
Avoid loans with APRs above 36%, which is the maximum rate deemed affordable by financial experts and consumer advocates. A three-year, $3,000 loan with a 36% APR costs almost $2,000 in interest.
If you have bad credit, consider a co-signed or secured loan to receive a lower rate.
Alternative dental financing options
Personal loans can be an expensive way to finance dental work, so weigh other options before applying for a loan.
Here are alternative ways to fund dental work:
Financing through your dentist. Some dentists offer an in-house payment plan when patients are faced with a hefty bill. Payment plans can be a good option if you don’t have insurance or would rather make monthly payments toward the procedure. You may be charged interest or a fee for setting up a payment plan.
You may also be able to negotiate a lower cost with your provider. Check the prices in your area using a site like fairhealthconsumer.org, and see how your dentist's costs compare.
» LEARN: How to pay off your medical bills
Dental school. Dental schools offer procedures at reduced prices so students can get experience under the supervision of skilled dentists. You can check the American Dental Association’s list of dental programs to see whether there’s a school near you.
Credit card for medical expenses. Some offices offer financing through a credit card for medical expenses like CareCredit. The standard APR for CareCredit financing is 29.99%, but you can get 0% interest if you charge $200 or more and pay it off within a six, 12, 18 or 24-month term. If you aren’t able to pay off your balance, you’ll be charged interest retroactively from the start of the term.
0% credit card. If you have good or excellent credit (a score of 690 or above), you might qualify for a 0% APR credit card. These cards have an introductory period — usually 15 to 21 months — when you won’t accrue interest on purchases. If you can pay off your balance within that period, you’ll pay for the procedure interest-free.
Dental savings plan. A dental savings plan could be an affordable option to cover dental costs, as they allow you to pay an annual fee to receive discounts from dentists in the plan’s network. This can be a viable option for patients without dental insurance coverage.
Last updated on November 14, 2023
Frequently asked questions
- What credit score do you need to get a dental loan?
Each lender has its own minimum credit score requirement. Typically, good- or excellent-credit borrowers receive the best rates on personal loans. If you have fair or bad credit, look for lenders that cater to borrowers with low credit scores.
- Should I use a credit card or a personal loan for dental work?
Both options can be expensive ways to finance dental work, but it helps to consider which one offers the lowest APR and has monthly payments that fit in your budget.
Methodology
NerdWallet’s review process evaluates and rates personal loan products from more than 35 financial technology companies and financial institutions. We collect over 50 data points and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.
NerdWallet's Dental Financing: Best Loans for Dental Costs
- SoFi Personal Loan: Best for Dental loans overall
- LendingClub: Best for Dental loans for good credit
- Upgrade: Best for Dental loans for bad credit
- LightStream: Best for Large dental loans
- Prosper: Best for Dental loans for joint loans
- Rocket Loans: Best for Dental loans for fast funding
