Physician loans are designed to meet the unique needs of doctors, dentists, and other medical professionals. Physician loans are designed to help you with your personal and professional financial needs. So whether you are just finishing your residency and need capital to support yourself or have recently joined or started a fast-growing medical practice a physician loan can help you meed your financial needs.
How Physician Loans Work
Physician loans are designed to help medical professionals to meet a wide variety of financial needs. From equipment purchases to debt consolidation, a physician loan allows medical professionals a cost-effective way to meet these financial needs. The loan you receive can range from $5,000 to $75,000, this is determined by your level of training or the number of years in practice. Physician loans offer fixed or variable-rate pricing and flexible repayment terms. You can even receive an interest-only payment option for the first year of repayment.
Most lenders do not have application fees for physician loans. There are no prepayment penalties if you choose to repay early. There are typically no insurance requirements for physician loans. Most lenders offering physician loans make the terms and conditions clear and do not hold hidden charges making for a great financing option for medical professionals such as yourself.
Getting The Capital You Need Through a Physician Loan
You do not need to be stuck financially. Becoming a medical professional took large student loans, years of studying and true devotion. Physician loans can help you keep on the right track of becoming the best Doctor you can be. Do not stress over your finances the right physician loan can help you meet all of your personal and professional financial needs in a cost-effective way. Make the call today or stop in a local lender’s office to find out your physician loan options.
Chris Fuller went to the University of South Florida and has worked in the financial sector for over 20 years. He has extensive experience in all aspects of personal and small business lending, from personal loans, equipment finance to cash flow based solutions for small mom and pop businesses, and large corporations.