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Taylor Medine is a staff writer at Forbes Advisor who demystifies complex money topics to help everyday people make more informed financial decisions. Over her nearly a decade of experience, Taylor's work has been published on Bankrate, Experian, Credit Karma, MarketWatch, The Balance and more.
Taylor Medine is a staff writer at Forbes Advisor who demystifies complex money topics to help everyday people make more informed financial decisions. Over her nearly a decade of experience, Taylor's work has been published on Bankrate, Experian, Credit Karma, MarketWatch, The Balance and more.
Jordan Tarver has spent seven years covering mortgage, personal loan and business loan content for leading financial publications such as Forbes Advisor. He blends knowledge from his bachelor's degree in business finance, his experience as a top performer in the mortgage industry and his entrepreneurial success to simplify complex financial topics. Jordan aims to make mortgages and loans understandable.
Jordan Tarver has spent seven years covering mortgage, personal loan and business loan content for leading financial publications such as Forbes Advisor. He blends knowledge from his bachelor's degree in business finance, his experience as a top performer in the mortgage industry and his entrepreneurial success to simplify complex financial topics. Jordan aims to make mortgages and loans understandable.
Lead Editor, Mortgages & Loans
Reviewed
Updated: Apr 1, 2024, 12:59pm
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
Dental work can be expensive to pay out-of-pocket. A root canal or fillings can cost several hundred dollars. On top of that, veneers, braces, Invisalign, dental implants and other procedures could set you back several thousand dollars depending on how many teeth are worked on.
If you can’t pay for dental procedures outright, dental loans can help you finance the cost over time. Below are the best dental loans to consider and tips for how to compare your options.
Our editors are committed to bringing you unbiased ratings and information. Our editorial content is not influenced by advertisers. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial guidelines and the loans methodology for the ratings below.
29 nationwide lenders researched
16 data points evaluated and scored
4 levels of fact-checking
Best Dental Loans April 2024
BEST OVERALL DENTAL LOAN
SoFi®
4.0
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
SoFi is an online lending platform that offers unsecured fixed-rate personal loans in every state. Founded in 2011, SoFi has extended over $50 billion in loans and stands out for allowing high loan amounts and its availability of extended loan terms.
Loans are available from $5,000 to $100,000, making SoFi a great option for those with excellent credit who need to borrow a large amount of money. Loan amounts available may vary by the state you live in. Repayment terms range from two to seven years, making SoFi an incredibly flexible option for those with sufficient credit (minimum 650) and annual income (at least $45,000). SoFi also lets prospective borrowers submit joint applications—although co-signers are not permitted.
Approved borrowers are rewarded with comparatively low APRs. What’s more, SoFi doesn’t charge origination fees, late fees or prepayment penalties—a stand-out feature because personal loan lenders often charge origination or late payment fees at a minimum.
However, if you’re considering a debt consolidating loan from SoFi, keep in mind that the lender does not offer direct payment to a borrower’s other creditors. This means the loan proceeds will be deposited to your bank account and you’ll have to pay off your other lenders individually. The platform does offer customers a number of other perks and discounts.
Pros & Cons
Prequalification with a soft credit check
Funding as quickly as the same day of loan approval
Offers direct payments to third-party creditors for debt consolidation
High credit score requirement
High minimum loan amount
Details
Eligibility:
Minimum credit score required. 650
Minimum annual income. $45,000
Co-borrowers. Permitted
Co-signers. Not permitted
BEST FOR LOW INTEREST RATES
LightStream
4.0
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
LightStream offers loans with both a low minimum and maximum interest rate, along with a rate-beat program. LightStream’s unsecured personal loans range from $5,000 to $100,000 with loan amounts varying based on the loan purpose. In addition to offering appealing and flexible terms, LightStream charges no origination, late payment or prepayment fees. The lender also offers a 0.50% rate discount for borrowers who enroll in autopay.
Pros & Cons
Long loan terms available
Low interest rates
Fast approval and funding
No prequalification option
High minimum loan amount
Low average customer rating on Trustpilot
Details
Eligibility:
Minimum credit score. 660
Minimum income. Does not disclose
Co-borrowers. Permitted
BEST FOR FAST FUNDING & BELOW-AVERAGE CREDIT
LendingPoint
4.0
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
LendingPoint is an online lender based in Atlanta that offers personal loans to prospective borrowers in 48 states and Washington D.C.; it does not offer loans in Nevada and West Virginia. Prospective borrowers in eligible states can apply online and benefit from quick funding.
LendingPoint personal loans range from $2,000 to $36,500; Georgia loans have a minimum loan amount of $3,500. Repayment terms range from 24 to 72 months—or two to six years.
There are two main disadvantages to LendingPoint: high maximum APRs and origination fees. While you can typically avoid high APRs by maintaining a high credit score, LendingPoint origination fees (up to 10%) depend on the state you live in.
Pros & Cons
Quick funding
Low credit score requirements
No prepayment penalty
Origination fee up to 10%
Co-signers or joint loans not permitted
Not available in Nevada and West Virginia
Details
Eligibility:
Minimum credit score. 600
Minimum annual income. $35,000
Co-signers. Not permitted
BEST FOR BAD CREDIT
Upgrade
3.5
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
Upgrade was launched in 2017 and provides accessible online and mobile credit and banking services. Since that time, the platform has made more than $3 billion in credit available to over 10 million applicants and continues to expand its online and mobile services. Although maximum APRs are on the high end compared to other online lenders, Upgrade makes loans available to those with poor credit history.
Loans amounts, which range from $1,000 to $50,000. Upgrade has two- to seven-year terms available. Upgrade charges an origination fee between 1.85% and 9.99% of the loan, and borrowers will encounter a $10 fee if their payment is more than 15 days late or if the payment does not go through; there are no discounts for autopay. That said, Upgrade borrowers are not subject to a prepayment penalty, so you can reduce the overall cost of the loan if you’re able to pay it off early.
Beyond offering accessible personal loans, Upgrade streamlines the lending process with a mobile app that lets borrowers view their balance, make payments and update personal information. Upgrade’s Credit Heath tool also makes it easy to track your credit score over the life of your loan.
Pros & Cons
Low minimum credit score requirement
Offers direct lender payoff for debt consolidation loans
No income requirement
High APR range
Charges fees for late payments and insufficient funds
Charges origination fees from 1.85% and 9.99%
Details
Eligibility:
Minimum credit score. 580
Minimum income. None
Co-applicants. Permitted
BEST FOR COMPARING MULTIPLE OFFERS
Universal Credit
3.5
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
Universal Credit is an online lending platform that offers personal loans between $1,000 to $50,000 through its partners. Repayment terms range from three to seven years.
While Universal Credit makes finding a personal loan accessible even to those with damaged credit, it comes with a few tradeoffs. First, it charges high APRs, well above the most competitive rates seen on our list. Second, Universal Credit charges a 5.25% to 9.99% origination fee on all personal loans. Because this is deducted from your loan proceeds, you’ll need to factor this in when determining your loan amount to ensure you receive the necessary amount after the fact.
Pros & Cons
Flexible qualification requirements
Next-day funding
No prepayment penalty
High APRs
All personal loans charge a 5.25% to 9.99% origination fee
Details
Eligibility:
Minimum credit score: 580
Minimum income requirement: Does not disclose
Doesn’t allow co-signers or co-borrowers
Loan uses:
Debt consolidation
Large expense
Home project
BEST FOR NO INTEREST IF REPAID WITHIN 30 DAYS
Discover
3.5
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
Discover is an online bank that also offers customers credit cards, retirement solutions and personal loans in all 50 states. As a lending platform, Discover stands out because of its online application and mobile banking tools, well-reviewed customer support team and quick funding.
In general, loans are available from $2,500 to $40,000 and may be issued for between three and seven years. So, while borrowers may get a larger loan from another lender, the repayment terms are fairly flexible. Discover charges a late payment fee and does not offer an autopay discount; however, it does not charge any origination fees or prepayment penalties, making it competitive with other top personal loan providers.
Shopping around with different lenders can help you find the right loan when you need dental work done. Here are tips for comparing loans:
Check interest rates. Many lenders list interest rates on their websites you can use to review costs before applying. Lender sites might also list eligibility criteria you can check to determine which loans you have the best shot at qualifying for.
Investigate the fees. Some lenders charge origination fees. Usually, these fees are a percentage of your loan and are taken from your loan proceeds before funds are deposited into your account. You should also avoid prepayment penalties to ensure you won’t be penalized for paying off your loan early.
Check the terms and payment schedules. Loan term lengths and payment schedules offered by lenders can vary, and comparing loan options available can help you find a payment that best fits your budget.
Read customer reviews. Checking customer reviews on databases available on the Better Business Bureau (BBB) and Consumer Financial Protection Bureau (CFPB) websites can help you find a reputable lender and give you a heads-up on any potential red flags before you borrow money.
Prequalify if you can. If a lender lets you prequalify without impacting your credit score, submitting the prequalification form can get you a personalized quote you can use to compare rates, fees and terms across different loans.
How Do Dental Loans Work?
Dental loans are unsecured personal loans that don’t require collateral. Interest rates on personal loans are usually fixed and range from 4% to 36% APR. The lowest interest rates are typically reserved for borrowers with the best credit.
After getting approved for a dental loan, a lump sum is deposited into your bank account. You can then use funds to cover procedures like tooth extractions, root canals, fillings, dental bridges, veneers and more. However, if your loan has an origination fee, the fee is subtracted from your loan first before you get the loan funds.
For example, if you borrow $10,000 with a 2% origination fee, the $200 fee would be taken from your loan, and the lender would deposit $9,800 into your account. From there, you pay your bills and make installment payments on the loan until it’s paid off.
What Credit Score Is Needed for Dental Financing?
Generally, having good credit (at least 670) gives you the best shot at qualifying for personal loans that you can use for dental care. However, some lenders may be willing to offer loans to borrowers with a less-than-perfect credit score as low as 580.
If you’re not sure whether or not your credit score is high enough to get a personal loan, you could prequalify to see if you meet the loan eligibility criteria. Most online lenders and many major banks and credit unions let you prequalify for loans without a hard credit check—there’s no obligation to accept the offers you receive. With a few preliminary offers, you can compare costs and choose the most affordable loan to finance your dental procedure.
How to Get Dental Financing With Bad Credit
If you have bad credit, find a lender who specializes in borrowers with bad credit or focus on improving your credit score before applying.
Payment history is the most important factor that affects your credit score, so establishing an on-time payment record is crucial if you want to improve your credit to get a loan. Using a service like Experian Boost can add on-time subscription and utility payments to your record to help your score. Certain services can also add rent payments to your credit report, and those on-time payments could help you establish a positive credit history before taking out a new loan.
Lowering your credit utilization ratio could be another area of opportunity to boost your score. Ideally, credit card balances should cover no more than 30% of your available credit limits. Paying down debt could lower your credit usage and improve your credit before applying for a dental loan.
Dental Loan Alternatives
Dental loans are just one of several options to pay for dental work. Below are other ways to finance dental costs or get discounted procedures:
Apply for a credit card. Some credit card issuers offer a 0% APR introductory special for new cardholders that lets you pay no interest for a certain timeframe, such as 12 to 21 months. Paying off dental procedures during the introductory period would be an interest-free way to pay off bills for a procedure over time. However, standard interest rates on credit cards can be higher than on personal loans, so keeping a large balance on a card after the interest-free period can be expensive.
Join a dental subscription plan. Some dental offices participate in subscription programs where you pay one fee per year to get a discount on dental services. Making the upfront investment on a subscription could reduce your future costs, which could make them easier to pay out-of-pocket.
Try CareCredit.CareCredit is a medical credit card you can use for medical procedures, including dental work. For bills of at least $200, it offers an interest-free financing plan of six, 12, 18 or 24 months as long as you pay the balance off within the term. If you don’t pay the balance within that term, interest is charged retroactively from the time of the initial transaction. For purchases of at least $1,000, CareCredit offers extended payment plans of 24, 36, 48 or 60 months.
Get discounted procedures through dental schools or clinical trials. Dental schools may provide services to patients at a reduced cost, which can save you money and lower the amount you need to borrow for a procedure. Research institutions may also provide affordable services to volunteers who have procedures done for studies.
Methodology
We reviewed 29 popular lenders based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We chose the best lenders based on the weighting assigned to each category:
Loan cost: 35%
Loan details: 20%
Eligibility and accessibility: 20%
Customer experience: 15%
Application process: 10%
Within each major category, we also considered several characteristics, including available loan amounts, repayment terms, annual percentage rate (APR) ranges and applicable fees. We also looked at minimum credit score requirements, whether each lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated each provider’s customer support tools, borrower perks and features that simplify the borrowing process—like prequalification options and mobile apps.
Where appropriate, we awarded partial points depending on how well a lender met each criterion.
How can you qualify for a low-interest dental loan?
Interest rates on loans are set based on your credit. You have the best shot at qualifying for a low-interest dental loan the higher your credit score is. If you have bad credit, applying with a co-signer who has strong credit could help you qualify for a competitive interest rate.
What dental financing can you get with bad credit?
Some lenders offer personal loans to borrowers with less-than-perfect credit, but you have other options if your credit is not strong enough to qualify for a personal loan. For example, you could use CareCredit, which is a medical credit card designed for covering medical procedures.
What do you need to apply for a dental loan?
Lenders usually ask for details like your name, address, email address and phone number during the loan application process. You’ll also be asked for information about your finances, and you might need to provide pay stubs to show proof of income. The full application process for a loan often involves a hard credit inquiry as well, which could impact your score.
Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
Taylor Medine is a staff writer at Forbes Advisor who demystifies complex money topics to help everyday people make more informed financial decisions. Over her nearly a decade of experience, Taylor's work has been published on Bankrate, Experian, Credit Karma, MarketWatch, The Balance and more.
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