In 2017, tummy tucks accounted for over 13% of all cosmetic surgeries performed in the United States, second only to breast augmentation procedures. Age, pregnancy, and weight changes are the leading causes of excess stomach fat, and even with regular exercise, some factors make it hard to lose stomach fat and regain ones’ ideal abdominal shape. To shed the excess fat, it may be essential to get a tummy tuck and repair stomach muscles that have weakened or been separated.
Unfortunately, tummy tucks are quite expensive, and they are not covered by insurance. Therefore, people who want to undergo the procedure either have to pay out of pocket or seek out loans. Credit cards, medical credit cards, and personal loans are good financing options for people that have good credit scores. Getting tummy tuck financing with less-than-perfect credit, however, is not an easy proposition; the rates are too high and the terms, too steep.
Tummy tuck Financing options available to people with less-than-perfect credit
People with credit scores lower than 600 have limited options when it comes to securing a loan to cover the cost of a tummy tuck. They are restricted to one of the following:
One option would be to postpone the procedure to a later date when you have enough money saved up. However, even if you save $300 every month, it will be years before you have enough to cover the cost of a tummy tuck.
People with less-than-perfect credit may be able to take advantage of secured loans from some lenders, but even these require credit scores above 590.
Lenders that provide loans to people with credit scores lower than 550 will not give them enough capital to cover the cost of a tummy tuck, and their APR will almost certainly exceed 35%.
Home equity loans
People who own homes with high property value may take out a home equity loan. However, this loan also requires a good credit score (680 and above).
Applicants with low credit may be considered if their homes are very valuable or they have a low debt-to-income ratio. A low debt-to-income ratio typically means less than 40% of the applicant’s monthly gross income is being used to pay back loans.
Tummy tuck financing with United Medical Credit
United Medical Credit arranges loans for people who need healthcare financing; including those with less-than-perfect credit. Their plans cover cosmetic procedures like abdominoplasty (tummy tuck), and applicants stand to get funding of up to $35,000. By leveraging multiple lenders, United Medical Credit can offer loan applicants competitive rates and terms.
With United Medical Credit, people with less-than-perfect credit are no longer limited to high-interest loan plans. With assistance from well-experienced United Medical Credit associates, they can secure financing with considerably good terms.
Tummy tuck financing secured through United Medical Credit comes with affordable monthly payments and no prepayment penalty
Saving up for a tummy tuck is not very realistic. And people with low credit scores cannot leverage personal loans since the rates will be too high and the principal provided, too low to cover the cost of the procedure.
In truth, people with less-than-perfect credit do not have a lot of viable options when it comes to financing cosmetic surgeries. The good news is, United Medical Credit provides loan options that aren’t as limited or exploitative; follow the link to learn more about how to get cosmetic surgery financing.