If you are in need of funeral financing, you are not alone. Many people find themselves in this difficult situation every year. Funeral service costs can be very expensive, and it is often hard to come up with the money on short notice. In this article, we will discuss everything you need to know about funeral financing. We will cover how to apply for a loan through LendingUSA, what your options are, and how to get the best interest rate possible. Let's get started!

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The cost of a funeral

Funeral services can add up quickly, and it's not easy to come up with money on short notice. According to a study made in 2021, the average cost of a funeral service with viewing and burial was $7,500. The National Funeral Directors Association (NFDA) says if the cemetery requires a vault for the casket, which the NFDA notes is usually the case, the cost rises to $9,500.

What is Funeral Financing?

Funeral financing is a type of loan that can be used to pay for funeral expenses. This type of loan can be obtained through a variety of lenders, including banks, credit unions, and online lenders. Funeral loans are typically unsecured loans, meaning that you do not need to put up any collateral in order to receive the funds.

Pros and cons of getting a funeral loan


Funds are readily availableDepending on your lender and credit score, you may be able to get your funds in a matter of days. This can be important if the funeral or cremation needs to take place within a short time frame.Payments are spread over timeOne of the primary benefits of getting a funeral loan is that it allows you to break up the costs of a funeral or cremation into smaller monthly payments. This can alleviate some of the financial stress associated with paying for a funeral in full, and ensure that you have enough funds left over each month to cover your other expenses.Get the funeral service you really wantWith the funds in hand, you can choose the burial service that best suits your needs and budget. This may include hiring a full-service funeral home, opting for a cremation rather than a burial, or purchasing a more expensive casket or memorial.


Interest chargesJust like any loans, there will be charges on interest incurred by the loan. The rate of these loans or financing plans can vary greatly, so you should shop around and compare before signing a contract with any funeral home or finance company offering this service. It is important to remember that while funeral financing may seem like an easy solution to your immediate financial needs, it will cost more in the long run, as you will be paying more than what you are borrowing.Credit check or your credit may not be high enoughAnother potential downside to funeral financing is that, as with any loan, your credit score may be checked. If you have a low credit score or no credit at all, you may not be approved for a loan and could end up having to pay the full cost of the funeral out-of-pocket.

Who can take out a funeral loan?

There are a lot of rules and regulations governing who can make decisions about funeral services while you're organizing a funeral. There are no restrictions on who can pay for the funeral services or take out a funeral debt. A funeral loan can be applied for by any friend or family member to help pay for expenses. Several family members will frequently split the expense of funeral services by each taking out their own funeral loan.

How to apply for funeral financing through LendingUSA?

You can check your rate on LendingUSA and get a pre-approval with only a modest draw on your credit if you're interested in financing your funeral services. A hard pull is only done once you've submitted your entire application. It's critical that you understand all of your financing alternatives at this time, which is why you can easily check your monthly cost.In addition, LendingUSA works with funeral homes directly like Jobe Funeral Home and Crematory, Inc.You can select the funeral home while you fill out your application if you've already discussed financing your funeral services with the funeral home. Because LendingUSA works directly with funeral homes, payment to the funeral home will be handled for you when you submit your application and sign loan documentation.Jobe Funeral Home and Crematory, Inc has partnered with LendingUSA to provide easy to approved funeral financing. Call us at (412) 856-4747 for more details.

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