physician loan refinance
Tailored mortgage solutions for Healthcare Professionals
Traditional mortgage rate and terms often fail to meet the unique financial needs of physicians, but we provide solutions specifically tailored to you.
What is a Physician Loan Refinance?
Physician mortgage refinancing allows you to replace your existing loan with a new one specifically tailored to benefit medical professionals, offering better terms. Whether your goal is to lower your monthly payments, shorten your loan term, or consolidate multiple mortgages, we provide seamless and stress-free refinancing solutions that cater to your unique financial circumstances.
Before refinancing, Consider the following
Why Should you Refinance your Loan?
Refinancing your mortgage can be a powerful financial strategy, particularly for physicians who often encounter challenges like high interest rates, substantial student debt, and lengthy loan terms. These factors can complicate the balance between financial goals—such as building wealth or saving for retirement—and everyday expenses. However, refinancing allows you to reshape your financial future by adjusting your mortgage to better align with your current needs. By refinancing, you can enjoy significant advantages such as:
Lower interest rates
flexible payment options
cash out equity
reduce loan terms
fixed & adjustable rate options
when should you consider
refinancing a loan?
Refinancing isn’t just about securing a lower rate; it’s also about timing and aligning with your financial goals. Deciding to refinance can save you money, improve your financial flexibility, or even shorten the term of your mortgage. Consider these common situations where refinancing might be a wise financial decision:
CONSOLIDATE DEBT
CASH OUT FOR RENOVATIONS
ADJUSTABLE TO FIXED RATE
What are the costs of refinancing?
Understanding the costs involved in refinancing is crucial to making an informed decision. Typical refinance fees include:
CONSOLIDATE DEBT
PROCESSING &
UNDERWRITING FEES
TITLE & CLOSING FEES
Working with physician Bank
Choosing the right lender is critical to a successful refinancing experience. At Physician Bank, we specialize in physician mortgage refinance, offering tailored solutions that align with your financial goals and professional needs.
next steps for a physician mortgage refinance
Ready to take control of your financial future? Contact us today to learn mor about how refinancing can benefit you. Our team of experts is here to guide you through every step of the process, ensuring that you make the most informed decisions.
CONTACT YOUR LENDER & APPLY
LOCK IN YOUR RATE & TERMS
DUE DILIGENCE PERIOD
GET
‘CLEAR TO CLOSE’
CLOSING DAY
let us do the math for you
When it comes to refinancing, the numbers can be overwhelming – but that’s where we come in. With our white glove service, we’ll handle the heavy lifting and create a refinancing plan that suits your financial situation perfectly. You can trust us to manage the numbers, allowing you to focus on what matters most to you.
Take the guesswork out of refinancing – let us do the math for you.
frequently Asked Questions (FAQ)
How do I know if refinancing is right for me?
Refinancing could be the right choice if you face high monthly payments or want to shorten your loan term. Our mortgage experts will do the math for you and help you decide.
Are there any special qualifications for physicians?
Yes, our refinancing options are specifically tailored to meet the unique financial needs of medical professionals, considering factors like student loans, residency income, and more.
How can I get started?
Fill out our contact form, and one of our refinancing experts will reach out to discuss your options.
How important is Credit Score with refinancing?
Your credit score plays a pivotal role in securing favorable refinancing terms. The higher your credit score, the better your terms.
Who pays closing costs when refinancing?
Typically, you pay the closing cost when refinancing. If you qualify, you may roll it into your loan amount.
How soon can you refinance a mortgage?
The timing of refinancing a mortgage depends on several factors, including your current loan type, the loan type you want to refinance into, and your current lender’s specific requirements. Some loans have waiting periods.
More Than Physician Loans
Alongside physician mortgage loans and refinancing, we have high-interest checking and savings accounts with competitive rates and low fees. You can also take advantage of our interest-bearing health savings account (HSA) to reduce your medical expenses. With our HSA, you can contribute pre-tax dollars and use them to pay for qualified medical expenses without any additional taxes. Start saving today!
Ready to achieve your financial goals? Choose from our selection of financial products – one or all – and start your journey towards success. Get in touch with us today and discover more about our offerings.
PAYROLL PLUS ACCOUNT
Give your paycheck a boost!
Get the best of both worlds – the convenience of Direct Deposit and an excellent rate of return.
JUMBO DEPOSIT ACCOUNT
Your savings, safe and secure.
Maximize your savings potential with our high-yield savings account, offering flexibility and full FDIC insurance for up to $7 million in deposits.
HEALTH SAVINGS ACCOUNT
Convenient health funds.
An interest-bearing account specially designed to help you save up for current and future qualified medical expenses. (Can be paired with a high-deductible health insurance plan to maximize savings.)
PHYSICIAN HOME LOANS
Your path to home ownership.
Get up to $2 million in mortgage financing with custom solutions crafted specifically for doctors.
Give your paycheck a boost!
Get the best of both worlds – the convenience of Direct Deposit and an excellent rate of return.
Your savings, safe and secure.
Maximize your savings potential with our high-yield savings account, offering flexibility and full FDIC insurance for up to $7 million in deposits.
Convenient health funds.
An interest-bearing account specially designed to help you save up for current and future qualified medical expenses. (Can be paired with a high-deductible health insurance plan to maximize savings.)
Your path to home ownership.
Get up to $2 million in mortgage financing with custom solutions crafted specifically for doctors.
Disclaimers:
All credit products are subject to approval. Program terms and conditions are subject to change without notice. Other restrictions and limitations may apply.
Physician Bank does not provide tax or legal advice, please consult with your own tax and legal advisors.
Debt consolidation and credit card refinancing involve using a new loan to pay off your existing balance. This does not eliminate debt but replaces one debt with another. While personal loan rates generally are lower than credit card interest rates, you may pay more in origination fees and interest over the life of the loan, depending on other loan terms. Please consult a financial advisor to determine if refinancing or consolidating is right for you.
Important Information
Procedures for Opening an Account Mandated by the USA PATRIOT ACT
To help the government fight the funding of terrorism and money laundering activities, the USA PATRIOT ACT, a Federal law, requires all financial institutions to obtain, and record information that identifies each person who opens an account.
What this means for you:
When you open an account, we will ask you for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
