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SunTrust Physician Loan
|SunTrust Physician Loan is a unique type of loan program specially designed to fulfill the financial needs of those talented individuals who are involved in training or practicing as doctors, pharmacist and dentists. A physician loan program can be availed to meet financial needs from living expenses, relocation costs, paying taxes and buying equipments. Physician loan is also popularly known as doctor loan and it can provide the extra money that will help you to fulfill your professional needs. You can use this loan amount to consolidate credit card debt and lower the monthly payment amount of your mortgage loan.
Physician loans are made available for newly established physicians, doctors-in-training, pharmacists and dentists. Borrowers with any other professions are not eligible to apply for this loan option. This unsecured loan is tailored to meet the credit needs and financial obligations for those who are committed to serve the nation. Some of the attractive features of physician loan are:
- Fixed as well as variable-rate pricing
- Affordable repayment terms
- Interest-only payment options
- Loan amount ranging from $5,000 to $75,000 based on the number of years in practice and the level of training
- No origination or application fees, no prepayment penalties, no hidden charges or no credit life insurance requirements.
Moreover, the borrowers enjoy a number of benefits by availing a physician loan from SunTrust Bank. Firstly, you are not required to put any collateral as it is unsecured type of loan. You can also make early payment as there is no prepayment penalty. In addition, the bank allows you to make interest only payments for the first 48 months while your training is on. Also enjoy the flexibility of variable or fixed interest rates depending on your affordability.
On the other hand, established doctors can obtain personal line of credit ranging from $25,000 to $75,000 from SunTrust Bank. PLC Plus line of credit is available only on variable rates and borrowers can enjoy interest only payments and no prepayment penalties. The application process of physician loan and line of credit is so hassle free. You can easily apply online, by phone, fax or through mail. It is advisable for you to keep the following information ready before making your application:
Speak with a bank representative by calling at 800.241.69.05 for more information or check loan reviews by visiting the bank website.
- Income information from different sources
- Information on financial obligations
- Asset information
- Details of co-borrower