Physician Loan

  • Physician handing candy to a child

    • The SunTrust Physician Loan provides interest-only payments1 and a fixed rate to help cover extra costs as you build your career.

    • If you prefer to apply over the phone, call us at 800.241.6905

    Important Information About These Products

    Subject to credit approval, eligibility and credit qualifications.

    1 Physician Loans are subject to credit approval. The interest-only payment option for loans is subject to qualification. You may qualify for interest-only payments up through your second year in practice. Renewal option contingent upon still being in training or in first two years of practice.

    2 Medical students in their final year of medical school are eligible to apply for a physician loan four months prior to graduation as long as they have received a residency program assignment.

    3 The SunTrust Physician Loan cannot be used to consolidate private or federal educational loan debt.

    4 The maximum loan amount available in Illinois is $40,000. The minimum loan amount available in Massachusetts is $6,001. The minimum loan amount available in Wisconsin is $25,001. The minimum loan amount available in Oklahoma is $5,101.

    5 Residents, 4th year medical students who have received their residency match, and Fellows – Up to $50,000. Physicians and Dentist in Practice – Up to $100,000

    6 Annual Percentage Rates (APRs) are determined by creditworthiness and other factors, so your APR may differ. Fixed rates range from 7.99% to 12.99% APR for doctors in practice and from 9.99% to 15.95% APR for doctors in training. Term limitations apply. Subject to standard credit approval. If you are self-employed, on commission, or a substantial portion of your income is from a source other than salary, you may need to provide us a copy of your last two years' Federal tax returns. Exclusions and limitations apply. Rates and/or Program subject to change without notice. The SunTrust Physician Loan cannot be used to consolidate private or federal educational loan debt.

    7 For example, on a $25,000 loan with fixed 9.99% APR and a 10-year term, your 48 monthly interest-only payments would be $208.00, followed by 72 monthly installments of $463.00.

    8 If you are a physician-in-training, interest-only payments may be available for up to the first 48 months of your loan if you qualify. You may be able to apply to renew this option through your second year in practice. Renewal contingent upon physician still being in training or first year in practice. Repayment terms up to 10 years may be available, consisting of 4 years of interest-only payments, followed by 6 years of principal and interest payments. For example, on a $25,000 loan with fixed 9.99% APR and a 10-year term, your 48 monthly interest-only payments would be $208.00, followed by 72 monthly installments of $463.00. Term limitations apply. Subject to standard credit approval. If you are self-employed, on commission, or a substantial portion of your income is from a source other than your salary, you may need to provide us with a copy of your last two years' federal tax returns. Exclusions and limitations apply. Rate and/or program subject to change without notice.

    If you are a dentist or doctor-in-practice, interest-only payments may be available for up to the first 24 months of your loan if you qualify. Repayment terms up to 10 years may be available, consisting of 2 years of interest-only payments, followed by 8 years of principal and interest payments. For example, on a $25,000 loan with fixed 7.99% APR and 10-year term, your 24 monthly interest-only payments would be $166.00, followed by 96 monthly installments of $353.00. Term limitations apply. Subject to standard credit approval. If you are self-employed, on commission, or a substantial portion of your income is from a source other than salary, you may need to provide us a copy of your last two years' federal tax returns. Exclusions and limitations apply. Rates and/or program subject to change without notice.

    9 For loans signed or executed in the state of Florida, Florida Law requires payment of a documentary stamp tax calculated on the loan amount. SunTrust will collect and forward this tax to the Florida Department of Revenue.

    Exclusions and limitations apply. Rates and/or program subject to change. SunTrust Physician Loans are not available in Vermont or the U.S. Territories. Relationship pricing and ACH discounts are not available on loans offered through SunTrust’s Physician Lending group.

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