Compare 5+ loan options for weight loss surgery in 2018 | finder.com
weight loss surgery loan

Compare financing options for weight loss surgery

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

You don’t have to put off your gastric bypass just because your insurance won’t cover it.

Weight loss surgery can help you improve your overall health and self-confidence. But not all types of surgery are covered by all insurance plans. And even if they are, patients often need to meet specific requirements to qualify. Those who need less common procedures are also generally out of luck.

When you’ve decided on surgery to gain control of your weight and health, here’s several financing options that can make paying for it more affordable.

Credible Personal Loans

Our top pick: Credible

Quickly get personal loan offers from top online lenders.

  • Minimum Loan Amount: $1,000
  • Maximum Loan Amount: $100,000
  • Loan Terms: 2–7 years
  • One simple form
  • Must have good to excellent credit

    Can I pay for weight loss surgery with a personal loan?

    Yes. In fact, some personal loan providers even offer medical loans specifically for procedures that aren’t typically covered by insurance, like weight loss surgery.

    Start with your healthcare provider first

    A good place to start your search for weight loss financing is with your surgeon and other medical professionals. Medical centers often feature relationships with companies that can offer patients medical loans at low interest or a discount.

    To understand what you’re getting into, speak with the company financing your payment plan, rather than just your hospital, so that you aren’t surprised by unexpected fees or variable interest rates.

    Look at multiple types of providers

    Also turn to your local bank or credit union to learn the types of personal loans they offer. Local financial institutions tend to offer lower interest rates than online lenders or big banks, but approval for your loan can take time.

    If you need faster financing, consider borrowing from an online lender, many of which offer loans specifically for medical procedures. Search for “medical financing” or “bariatric financing” in addition to standard personal loans.

    Compare top personal loan options

    Rates last updated November 17th, 2018

    Reveal your potential loan offers and rates

    Answer two quick questions to filter the loan offers and get the best one for you.

    Select your credit score range

    I don't know my credit score

    Finally, select where you live.

    To get your credit score:

    Experian logo

    Experian is a leading provider of personal and business credit reporting. Find out your FICO score now for less than the cost of a cup of coffee.

    Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
    Name Product Product Description Min. Credit Score Max. Loan Amount APR
    Monevo Personal Loans
    Quickly compare multiple online lenders with competitive rates depending on your credit score.
    550
    $100,000
    3.34% to 35.99%. (fixed)
    Credible Personal Loans
    Get personalized rates in minutes and then choose a loan offer from several top online lenders.
    Good to excellent credit
    $100,000
    4.99%–36% (fixed)
    LendingClub Personal Loan
    A peer-to-peer lender offering fair rates based on your credit score.
    660
    $40,000
    6.95% to 35.89% (fixed)
    SoFi Personal Loan Fixed Rate (with Autopay)
    No fees. Multiple member perks such as community events and career coaching.
    680
    $100,000
    6.99% to 14.87% (fixed)
    NetCredit Personal Loan
    Check eligibility in minutes and get a personalized quote without affecting your credit score.
    550
    $10,000
    34%–155% (Varies by state) (fixed)
    Marcus by Goldman Sachs Personal Loans
    Consolidate your debt or pay off large expenses with competitive rates and no fees.
    Good to excellent credit
    $40,000
    6.99% to 24.99% (fixed)
    Even Financial Personal Loans
    Get connected to competitive loan offers instantly from top online consumer lenders.
    580
    $100,000
    4.99%–35.99% (fixed)
    Avant
    Conveniently check your loan options without affecting your credit score.
    580
    $35,000
    9.95%–35.99% (fixed)
    OneMain Financial Personal and Auto Loans
    An established online and in-store lender with quick turnaround times. Poor credit is OK.
    Varies
    $30,000
    16.05%–35.99%* (fixed)

    Compare up to 4 providers

    How much does weight loss surgery cost?

    How much your surgery costs varies depending on the type of surgery you’re interested in and whether your insurance provider covers part of it.

    Most weight loss surgeries are a type of bariatric surgery — procedures that involve altering the digestive system. Cosmetic procedures like liposuction or a tummy tuck can also help you lose weight initially, though they might not allow you to keep it off.

    Speak with a medical professional before deciding on any surgical procedure.

    Gastric bypass

    Gastric bypass is a type of restrictive bariatric surgery that reduces or otherwise changes the size of your digestive system. In a gastric bypass, your stomach is divided into two pouches — one smaller than the other, with both connected to your intestines.

    Ultimately, the surgery reduces the volume of food your stomach can hold and the calories (and nutrients) your body can absorb. It’s typically reserved for patients with a BMI that’s 40 or higher.

    • Gastric bypass surgery typically costs from $2,000 to $24,000.

    Gastric sleeve

    A gastric sleeve is a type of restrictive bariatric surgery that involves removing part of your stomach — sometimes as much as 80%. This surgery restricts the amount and types of food you can eat at once, and like a gastric bypass, you aren’t able to absorb as many nutrients as you would with a full-size stomach. It’s also typically reserved for patients with a BMI of 40 or higher.

    • Gastric sleeve surgery typically costs from $2,000 to $19,000.

    Lap band

    Lap band surgery — also called gastric lap band surgery or gastric band surgery — is a type of restrictive bariatric surgery. Less invasive than other options, this procedure places an adjustable band around an area near the top of your stomach to create a smaller section where food can enter.

    Doctors suggest using a lap band in addition to a weight loss plan, because it likely won’t reduce hunger and can be minimally effective if you don’t also change your diet.

    • Lap band surgery typically costs from $2,000 to $15,000.

    Gastric balloon

    In this restrictive bariatric procedure, a doctor inserts a balloon into your stomach through your mouth. Your surgeon then fills it with saline to reduce your food cravings. It’s a less invasive alternative to bariatric surgery for patients with a lower BMI.

    • Gastric balloon procedures typically cost from $6,000 to $9,000.

    Duodenal switch

    Duodenal switch is a restrictive and malabsorptive bariatric surgery that generally combines a gastric sleeve and a gastric bypass. During this procedure, a surgeon removes a large portion of your stomach, leaving the smaller part of your stomach connected to the upper part of your intestines, called the duodenum.

    Your surgeon will also alter your intestines to speed up the digestive process and reduce the number of calories your body absorbs. A duodenal switch is generally only recommended for people with a BMI of 50 or higher.

    • Duodenal switch procedures typically cost from $2,000 to $27,000.

    Restrictive vs. malabsorptive procedures

    When researching bariatric surgery, you might come across the terms restrictive and malabsorptive to describe specific procedures.

    In short, restrictive refers to procedures that decrease the stomach’s capacity to hold food, like gastric stapling or banding.

    Malabsorptive surgery typically refers to rerouting the intestines to bypass a part of the small intestines, where fats, proteins and vitamins are absorbed. Fewer nutrients absorbed by your digestive system can mean faster weight loss. But it might also require lifetime supplements to keep your body healthy.

    Speak to a medical professional before deciding on any medical procedure to make sure it fits your lifestyle and long-term goals.

    Liposuction

    Liposuction is a type of cosmetic surgery in which excess fat deposits are removed from your body. It can’t treat weight-related health problems, and experts recommend it for people within 20 to 30 pounds of their healthy weight (or 24.9 BMI).

    • Liposuction typically costs from $2,000 to $5,000 per targeted area.

    Other weight loss procedures

    Other less conventional procedures can be more expensive, because insurance is less likely to cover part of it.

    Vagal nerve blocking is a procedure that involves implanting a device in your body that controls your hunger through electrical signals sent to your brain. But prepare to fork over something in the ballpark of $18,500.

    If you’re looking into aspiration, which involves the addition of a device that keeps your stomach from completely digesting food, expect to pay in the range of $10,000 to $11,000.

    Compare personal loans now

    How else can I pay for weight loss surgery?

    First, make absolutely sure that you understand your insurance coverage for the type of surgery you need — many bariatric procedures are at least partially covered. You may find that your insurance provider covers specific doctors and medical facilities for the procedure you’re interested in.

    Other financing options include:

    • Medical payment plans. Many hospitals and medical practices offer plans that allow patients to pay their bills in installments, rather than all at once, often without interest.
    • Peer-to-peer loans. Fund your weight loss surgery through a loan funded by investors, rather than financial institutions, through peer-to-peer platforms like LendingClub. Interest rates are sometimes lower than your standard personal loan.
    • Credit cards. If your procedure doesn’t cost more than your credit limit, it might be easier to put it on your credit card if you know you can pay it off quickly. Consider applying for a new credit card with a 0% introductory APR to avoid paying interest — credit cards typically come with higher APRs than personal loans.
    • 401(k) loans. Most 401(k) plans allow you to borrow the lesser of $50,000 or 50% of your retirement fund’s value, with interest paid back into your retirement account. This option is best for people with airtight employment — you could end up paying steep fees if you leave your job and can’t pay off your balance right away.
    • Friends and family. If you have trouble pulling together the funds, consider asking relatives or loved ones for financing. They might not charge you interest, though it could hurt your relationships if you’re slow to pay it back.

    Did you know?

    Lenders consider loans secured by collateral less risky that unsecured loans. With a secured loan, your lender can sell the asset you’ve put up as collateral if you’re unable to repay your loan on time. In this situation, your credit will likely suffer, but you might avoid a lawsuit with your creditor for defaulting.

    3 tips to help you prepare for weight loss surgery

    • Expect to lose income. It’s not uncommon for patients to be out of commission longer than their paid leave will cover, what with recovery and potential unexpected side effects. Prepare a budget to cover any time not covered by your paycheck.
    • Voice your concerns. Talk with your doctor about any doubts or physical concerns you might have before going under the knife. You might end up discussing a topic you didn’t realize was important but could potentially alter your procedure for the better.
    • Quit smoking. Many doctors may require you to quit smoking. Even if yours doesn’t, stopping at least a month ahead of surgery might speed up your healing time and prevent complications. You’ll likely need to avoid smoking at least a month after your surgery to avoid respiratory complications.

    Bottom line

    You don’t have to put off weight loss surgery if it’s crucial to maintaining your health. Personal loans, in-house payment plans and medical loans can help you pick up any costs your insurance plan won’t help with.

    Get started on your search for weight loss financing by checking out our guide to personal loans.

    Frequently asked questions

    Anna Serio

    Anna Serio is a staff writer untangling everything you need to know about personal loans, including student, car and business loans. She spent five years living in Beirut, where she was a news editor for The Daily Star and hung out with a lot of cats. She loves to eat, travel and save money.

    Was this content helpful to you? No  Yes

    Ask an Expert

    You are about to post a question on finder.com:

    • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
    • finder.com is a financial comparison and information service, not a bank or product provider
    • We cannot provide you with personal advice or recommendations
    • Your answer might already be waiting – check previous questions below to see if yours has already been asked

    Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy and Cookies Policy and Terms of Use.

    2 Responses

    1. Default Gravatar
      MuriloJune 13, 2018

      I would like know if is possible fincance the surgery without social security number. I’m not a citizen, but I’m really need that and take my life’s back. Thanks

      • finder Customer Care
        AnnaJune 13, 2018Staff

        Hi Murilo,

        Thanks for your question! It’s possible to get a personal loan without a Social Security number — many lenders also accept a tax ID number instead of an SSN. And some like LendingClub, SoFi and Stilt offer loans to nonresidents on valid work or student visas.

        I hope this helps!

        Best,

        Anna

    Go to site