[sivad73]

Can someone tell me how an adoption loan works? Can you get more than the $10,000 they know you will receive from your tax credit? I am just starting to look into it and thought I would ask here first!Thanks!

Shannon

[Lissa]

We ended up not taking the loan as our famlies are substantially helping us to pay for the adoption, but we were approved for an adoption specific loan for $15,000. So I do know you can take more than the $10,000.

[sivad73]

Thank you so much for your reply! I am a little obsessed about finding out all the info I can about every aspect of the process! We probably will not be able to get things going till Sept or Oct, so I am just wnting to figure it all out now ( if that is eve possible.LoL!!!!!)!

Shannon

[annej]

My first adoption I used an adoption loan thru a local bank that worked in conjuction with a local agency. I borrowed 15,000 and this is when it was taking over 18 months to complete the adoption so much of it was paid for before I even left for CHina. My second one I did not need the loan but I knew it was there if I did.