What is a Family loan agreement?
The family loan agreement is a specialized legal document that allows relations (either by blood or marriage) to enter into a loan agreement. One family member acts as the creditor and the other family member acts as the borrower. It’s similar to standard loan agreements in that the creditor may ask the borrower to pay interest on the amount borrowed. The interest is calculated based on a compound annual rate and is limited by usury laws in the state the agreement was entered into. Of course, this is up to the lender. Oftentimes, family members will forgo an interest payment because of their relationship.
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Download the free template, or customize it with AI in 4 minutes.
How to create one with DocsGenie
You've got three paths, depending on how much help you want:
Path 1: Download the free PDF
Click "Download Free PDF" above. You get a blank, attorney-reviewed family loan agreement you can print and fill in by hand, or open in any PDF editor. No signup, no card. Good if you've done this before and just need a clean form.
Path 2: Customize and fill out (guided)
Click "Customize & Fill Out." We walk you through plain-English questions and the legal language is built in — you just provide the facts. Faster than a fillable PDF, fewer mistakes than typing it yourself. Takes ~4 minutes.
Path 3: AI customize (the smart path)
Click "Use AI to Customize." Describe anything unusual about your situation and AI adjusts the document on the fly. This is where DocsGenie pulls ahead of static templates: your situation rarely matches the standard form exactly, and AI handles the edge cases without you having to find a lawyer.
Both customized paths require a $1 trial signup ($29/mo after 7 days unless you cancel). The free PDF download is genuinely free — no email, no card.
DocsGenie vs the alternatives
Here's how the costs and constraints stack up for a single family loan agreement:
| Option | DocsGenie | Rocket Lawyer | LegalTemplates | eForms | Lawyer |
|---|---|---|---|---|---|
| Free blank PDF | Yes | No | No | Yes (ad-laden) | No |
| Cost (single doc) | $1 trial or $49 one-time | $39.99/mo subscription | $39.95/mo subscription | Free PDF / $39 Pro | $200–$500 |
| State-specific? | Yes — auto-applied | Yes | Yes | Generic PDF | Yes |
| AI customization | Yes | Limited | No | No | Manual |
| Time to complete | ~4 min | ~10 min | ~10 min | ~30 min (manual fill) | 2–5 days |
| Cancel after one use | 2 clicks (Stripe) | Account settings | Cancel & wait | N/A | N/A |
If you only need this one document and you're comfortable filling a blank form by hand, grab the free PDF. If you want it done right the first time, the $1 trial gives you the AI flow + 6 days to handle anything else (lease, NDA, contractor agreement). The $49 one-time is the cleanest no-subscription option.