Adoption Loan Fund
Adopting a child can be expensive. From attorney’s fees to agency costs, the expenses can reach $60,000. For hopeful families, this financial reality may prove to be an unsurmountable obstacle. That is where HFLA can help. Thanks to a generous donation by Reggie and Jeff Goldstein, HFLA of South Florida has expanded its Making Miracle Babies Fertility Fund to include interest-free loans for adoption. The Goldstein Family Adoption Fund will provide $24,000 to cover the birth mother’s medical and living expenses, adoption and attorney fees, social worker fees, court costs and more. For the Goldsteins, it is a deeply personal mission. Their son and daughter were adopted so they understand how complicated and costly the process can be.
Repayments will be 48 months based on a maximum loan amount of $24,000, without interest, beginning 30 days after the loan is made and at the sole discretion of HFLA.
How Can I Qualify for a Loan?
- You or your partner must be Jewish.
- Both you and your partner must be a resident of either Miami-Dade or Broward County for at least one (1) year prior to the application date.
- You and your partner must be first-time parents.
- You and your partner each cannot be younger than 25 or older than 50 years of age.
- We will require a letter confirming your contractual agreement in being a prospective adoptive parent from your licensed attorney.
What Do I Need to Do?
- All you have to do is fill out the attached application form below!
What Happens After I Submit My Application?
- We will process the loan request by verifying the information, checking you and your guarantors credit standing and speaking with the prospective guarantors to review their understanding of our program.
- Once we confirm everything, we will contact you for an interview with our Loan Committee.
- Upon final approval, we will release the funds.
Guarantor Requirements:
- Loans over $1,800 require one qualified guarantor.
- Borrowers with a credit score of 620 or higher are required to provide one qualified guarantor.
- Borrowers with a credit score below 620 may be required to provide an additional guarantor.
For more information, contact us at [email protected] or 786.866.8658.
