4 Loans for Medical Professionals

Written by: Victoria Abigail Friedland
I am a medical student who dedicated herself helping individuals and non profit organizations for finding medical grants for medical bills, medical treatment, medical education, research and medical equipment.
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Loans for Medical Professionals

Loans for medical professionals support educational needs and meet unique financial needs.

Medical professionals are committed to helping people selflessly, and they are indeed admired for their tireless dedication.

Various loans are offered to facilitate their studying and to prepare and build a professional medical career.

Besides, several programs have been initiated to provide affordable loans to help medical professionals purchase or refinance their dream homes confidently.

Loans for Medical Professionals – HCPFCU Loans

The Health Care Professionals Federal Credit Union (HCPFCU ) serves all kinds of loans. The loans are specifically meant to meet the financial needs of all those working in the healthcare profession and their families. The process is simple and is based on creditworthiness.

  1. No application fees on auto and personal loans
  2. Same-day approval is available on auto and personal loans
  3. Competitive rates
  4. No prepayment penalty

You can apply for auto loans, personal loans, mortgage loans, and student loans. For more information, visit https://www.hcpfcu.org/loans.

Loans for Medical Professionals – Where to Apply?

Loans for medical professionals are designed to fit unique circumstances. Various lenders are offering different kinds of loans. Let’s learn about them.

  • Vantage Bank

The lending professionals at Vantage Bank create customized healthcare solutions to meet each individual’s loan needs.

What Services are Offered by Vantage Bank to Medical Professionals?

  1. Term loans for acquisition, refinance, renovation, expansion, and equipment purchases
  2. Professional practice buy-in
  3. Hospital investment financing
  4. Construction Financing
  5. Variable and fixed-rate loans
  6. Revolving lines of credit for working capital
  7. Letters of credit
  8. Treasury management solutions
  9. Interest-bearing checking account for medical professionals

Who can Benefit from the Vantage Bank Healthcare Program?

  1. Long-term healthcare
  2. Allied practitioners (e.g., audiologists, optometrists, podiatrists)
  3. Dentists
  4. Alternative health practitioners (e.g., chiropractors, acupuncturists, physical therapists)
  5. Medical practices (including generalist practitioners and specialists)
  6. Rehabilitation care practitioners
  7. Veterinarians

Contact a lender by visiting https://www.vantage.bank/en/customer-service/

  • KeyBank

Take care of your needs and benefit from KeyBank’sKeyBank’s customized mortgages. They offer a streamlined home buying process, with underwriting specialized for you.

Overview of KeyBank’sKeyBank’s Product Features

  1. Purchaser Qualification – Medical doctor or dentist
  2. Loan Amount – Up to $3.5 million
  3. Loan to Value (LTV) – Up to 95%
  4. Interest Rate – Fixed or variable
  5. Private Mortgage Insurance (PMI) – Not required

KeyBank’s Features

  1. Customized service
  2. Loan options are available for purchase, as well as rate/term
  3. Eligibility includes owner-occupied primary residences and second homes
  4. Loans are available for 1-unit single-family homes, condos or planned unit developments

For more information, visit https://www.key.com/personal/promo/

  • SunTrust

The SunTrust loan for medical professionals provides interest-only payments and a fixed rate to help cover extra costs to build your career.

Who is Eligible for a SunTrust Loan?

This loan is available to MD, DO, DDS, DMD, and DPM who meet the following requirements:

  1. Doctors in training
  2. Doctors in practice

SunTrust Loan Highlights

This loan helps eligible medical professionals to pay for living and relocation expenses and consolidate debt and other expenses.

  1. Loan Amount – For 4th-year medical students and doctors in training, the loan amount is up to $50,000. For doctors in practice, the amount extends up to $100,000
  2. Interest Rate – Fixed rates as low as 7.99% APR for doctors in practice and 9.99%6 for doctors in training
  3. Loan Term – Repayment terms up to 10 years
  4. Access to Funds – Check-in mail
  5. Fees – No application or origination fees, no prepayment penalties, no credit life insurance requirements and no hidden charges
  6. Documents to Provide – Sources of income, information on your financial obligations, asset information, and information from co-borrower, if applicable

How to Apply for SunTrust Medical Professional Loan?

Apply in Four Easy Steps

  1. Apply Online
  2. Get a preliminary loan decision within 24 hours
  3. Loan processing takes place after receiving and reviewing all necessary documentation.
  4. Final decision and loan closing takes place during a convenient day/time

For more information on eligibility and credit qualifications, visit https://www.suntrust.com/

  • National Funding

National Funding gets you the medical business financing for running a successful medical practice and expanding your business. It offers small business loans and equipment financing and leasing.

How to Apply for National Funding Loan for Medical Professionals?

Apply for a medical business loan simply by:

  1. Start with an online application form
  2. Discuss the right loan for you with the National funding Loan Specialist
  3. Get a decision within 24 hours.

Apply today at https://www.nationalfunding.com/application/apply-now/

Conclusion

Loans for medical professionals offer a wide range of financial services. Find the right loan provider and get the financial flexibility you need to cover all needs.

See Also

Student Loan Forgiveness for Healthcare Workers

Medical Loans for Bad Credit in the UK

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