You focus on your patients. We'll focus on you.
As a resident, you may need a little extra help covering monthly expenses. As an established physician, you may be looking to grow your practice or you may want to consolidate higher rate balances. No matter what your need is, a SunTrust Physician Loan can help you move forward in your career with confidence. Interest-only payments options1 mean you can get the financial support you need without taking on another demanding monthly payment.
- Fixed or variable-rate pricing
- Generous repayment terms
- Interest-only payment options1
- No application or origination fees, no prepayment penalties, no credit life insurance requirements and no hidden charges2
- What can you use this loan for?
- Loan Amount
- Interest Rate
- Loan Term
- How to Apply
- Access to Funds
- Fees
- This loan can help physicians and dentists—in residency or starting in practice—pay for various costs, like living and relocation expenses, consolidate debt and more.
- $5,000 to $100,000 3,4
-
Variable rates as low as Prime + 2.50% (currently 6.75% APR5)
Fixed rates as low as 7.20% APR5 - Generous repayment terms up to 10 years—interest only options6
- Apply online or by phone
- Receive your check within days of your approval
- No application or origination fees, no prepayment penalties, no credit life insurance requirements and no hidden charges2
To begin, you'll need the following information:
- Your sources of income
- Information on your financial obligations, including balances and payment amounts
- Asset information such as deposit accounts, 401(k) or brokerage accounts
- Information from your co-borrower, if applicable
- If you prefer to apply over the phone, call us at 800.241.6905
Apply in 4 easy steps.
Apply Online or by Phone
Apply in less than 15 minutes.
Preliminary Loan Decision
If approved, a SunTrust representative will contact you within 24 hours to discuss the details and documents required.
Loan Processing
SunTrust reviews your submitted documents, and will contact you with any additional questions.
Final Decision & Loan Closing
Review the final approved terms and schedule a convenient day/time to send the loan documents for signing.
Important Information About These Products
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 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.
3 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.
4 PGY I – Up to $25,000, PGY II – Up to $30,000, PGY III – Up to $35,000, PGY IV and Fellows – Up to $40,000, Final year of Training and Employment Commitment – Up to $50,000. Physicians and Dentist in Practice – Up to $100,000
5 Annual Percentage Rates (APRs) are determined by creditworthiness and other factors, so your APR may differ.
Fixed rates range from 7.20% to 13.20% APR for doctors in practice and from 10.45% to 15.95% APR for doctors in training. Variable rates range from 6.75% (Prime + 2.50%) to 12.75% (Prime + 8.50%) APR for doctors in practice and from 10.00% (Prime + 5.75%) to 15.50% (Prime + 11.25%) APR for doctors in training. For variable rates, the APR is based on the Prime Rate plus a margin and is subject to increase or decrease during the loan term. The Prime Rate means the highest per annum "Prime Rate" of interest published by The Wall Street Journal in its "Money Rates" listings, which was 4.25% as of 6/15/17. 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.
6 For example, on a $5,000 loan with variable 11.45% APR and a 10-year term, your 48 monthly interest-only payments would vary from $43.92 to $48.62, followed by 72 monthly installments of $96.35.
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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