What is the Adoption Loan?
TruStone’s Adoption Loan is a financing option available for families who are going through the adoption process with our partner, Children's Home Society and Lutheran Social Service of Minnesota
How do I apply for a TruStone Adoption Loan?
Adoption Loan applicants must first complete an application with CHLSS or other accredited adoption agencies before applying for the Adoption Loan.
If you’ve completed the application with CHLSS or another accredited adopiton agency and are approved, please contact us
to get started on your adoption loan. Note - loan will not be finalized until the home study process has been completed.
What expenses does the Adoption Loan cover?
Adoption Loan funds can be used to fund up to 90% of travel expenses, legal fees, medical fees, counseling fees and other fees associated with adoption as approved by CHLSS or other accredited adoption agencies.
Does the Adoption Loan require any collateral?
No, TruStone’s Adoption Loan does not require any collateral.
What is the maximum repayment term for the Adoption Loan?
The maximum repayment term is 89 months for the Adoption Loan and is based on your rate.
Is there a penalty for prepayment or paying off the Adoption Loan early?
No, there is no penalty for prepayment or paying it off early. Though accounts closed within six month may foreit the welcome gift.