If you’ve looked up the cost of dental implants, you’ve probably figured out that specifics at your local dentist’s office are hard to find. Even if you call, they’d like you to come in for a consultation before quoting you a price.
So, you immediately start thinking...
Are they TRYING to hide something from me?
Is this a sales tactic to get me into their office and “close” me?!
And while I always tend to let this line of thinking take over, the reality is that a dentist who gives you a quote over the phone would really be making a wild guess.
Your mouth is individual to you. Things like present health of your gums and teeth, need for bone or tissue grafting, custom abutments, type and number of implant(s) required, number of office visits needed etc., are all going to be factored into your price.
Some price ranges:
Authority Dental.org lists these as some price ranges you can expect. You’ll want to keep in mind that pricing can vary according to what part of the country you’re in as well as if you’re in a major city or not.
- 1 tooth replacement: $1,500-$6,000
- 2-4 teeth replacement: $6,000-$10,000
- Replacement of all teeth: $7,000-$90,000 (with an average cost of $34,000)
Making it work...Green Sky Patient Solutions Program
The Green Sky Patient Solutions Program is a line of credit that’s specifically designed to finance medical procedures.
You’ll apply for a line of credit of up to $25,000 through their website. Once approved, you receive an account number that you simply give to your dentist’s office to process payments (much like a credit card.)
From there, you’ll make monthly payments and if you’re able to pay it off before the 18-month mark, you pay no interest! And if you can’t pay it off quite that fast, interest rates are still relatively low for up to 66 months.
This one is quick and easy and will get the job done!
Home Equity Loan and Home Equity Line of Credit
Both the Home Equity Loan and the Home Equity Line of Credit are common financing tools for medical procedures. With both, you’ll use the equity in your house as collateral for the loan.
Calculate your home equity: Take the appraised value of your home and subtract any liens (i.e. your mortgage).
Let’s say your mortgage is your only lien and your home is worth $300,000. If you still owe $200,000 on your mortgage, then your home equity is $100,000.
With a home equity loan, you’ll receive a lump sum and you’ll usually have a monthly payment that will include what you owe plus interest. The interest rate is generally fixed, meaning it’ll be agreed upon beforehand and won’t change.
With a home equity line of credit, you’ll receive a line of credit that you can draw from over a specified period of time, usually 5-10 years. Most have variable interest rates, but you’ll only owe interest on the money you actually use.
Both tend to have good interest rates because you’re using your house as collateral after all… And they’re both great tools to get the cash you need!
A cash-out refinance is an option you can use if the equity you’ve built in your home still isn’t quite getting you there.
Let’s say you your house is worth $200,000. You still owe $170,000 on the mortgage (meaning you’ve built up equity of $30,000). You still need some extra…let’s say $20,000. You could get a cash out refinance, your new loan would be $190,000 and you would get the $20,000 in cash.
You need pretty good credit for this one and interest rates may be a little higher, but hey... who doesn’t need a boost now and again?
The most confident version of YOU.
If you’re 62 or older and own your home, this one looks seriously attractive.
A reverse mortgage allows you to convert your home equity into cash with no monthly mortgage payments. In fact, you won’t owe anything on the loan at all as long as you’re living in your home.
You’re actually using your equity as collateral and the loan generally isn’t repaid until 6 months after the last surviving homeowner moves out or passes away.
There’s no credit check, so it really allows people who have been turned down for loans in the past (because of less than perfect credit) to finally be able to take out a loan!
Loan against your insurance policy
If you have whole (or permanent) life insurance, borrowing against your policy is a fantastic option.
Any amount that you pay toward your policy that exceeds your death benefit goes to your insurance company to invest. Once they’ve invested for a period of time, some cash is made and THAT’S the cash you’ll be borrowing.
Since you’re more or less borrowing from yourself, there’s no credit check or approval process and the funds you use are tax free. And while you’ll still owe the money at some point, there’s usually no mandatory monthly payment and interest rates tend to be very low.
Should you ACTUALLY do this though?
It’s a big decision. After all, it’s not a small investment.
Maybe this will help...
Imagine something with me...
Imagine that you’re standing outside of a room. The room is filled with people you’re about to meet with.
It can be a board meeting you’ll be presenting at, your friends at a coffee shop, your spouse’s family sitting down to dinner… Picture an actual situation you may find yourself in.
Do you have it?
Before you walk in, you may be studying your presentation notes or trying to remember your spouse’s aunt’s name... but what’s more important is what you’re NOT doing.
You’re NOT battling that anxiety that never seems to leave...
that anxiety that’s telling you to hide your teeth at WHATEVER cost.
You’re NOT hoping that no one will notice you covering your mouth when you talk or hiding your teeth when you smile.
You’re NOT re-living those painful moments when you’ve seen people’s expressions visibly change the second they saw your teeth.
You’re NOT dreading that your secret will get found out.
You’re NOT trying to cope with the fact that of course it inevitably will.
Why are you NOT doing any of these things?
Because in this imaginary story, your teeth are PERFECT.
Just before you enter the room, a huge, sparkling, white smile comes across your face.
You open the door beaming and walk in with every bit of confidence that big smile brings.
Then... you spend your time laughing at family members’ stories or smiling as you as you meet new friends or courtesy laughing at your boss’s ill-timed joke.
So, what are you ACTUALLY investing in?
You’re investing in your experiences.
You’re investing in your future memories.
You’re investing in that spark you KNOW you used to have!
So, take a look at all of your financing options and consult with an implant specialist.
Because what you’re really investing in, is that person you have the potential to be…