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Medical Refinance Loan

Commerce Bank Medical Refinance Loan

♢ Rate offer shown of 4.875% assumes excellent borrower credit history and reflects a rate discount of 0.25% for automatic payments. Rates without automatic payment discount can range from 5.125% - 9.75%. depending on borrower credit history and repayment option chosen.
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Get 3 payments* on us.

We’ll pay you a lump sum equal to 3 times your first monthly loan payment amount due. Apply by 4/30/19**!

Apply now Get details

Start your career on solid financial footing.

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With our competitive rates and flexible terms, you could save thousands of dollars over the life of your loan. It’s a smart, easy way to simplify your financial life.

  • No origination fee or prepayment fees

  • Ability to refinance federal and private student loans into one loan with a single monthly payment1

  • A dedicated private banker assists you through the process

Term Fixed APR2 Variable APR3

10 year♢

 4.875% – 9.50%4 4.875% – 9.50%5

20 year♢

 6.250% – 9.50%4 6.125% – 9.50%5
♢ Rate offer shown of 4.875% assumes excellent borrower credit history and reflects a rate discount of 0.25% for automatic payments.6 Rates without automatic payment discount can range from 5.125% - 9.75%. depending on borrower credit history and repayment option chosen.

Solutions for busy medical professionals

  • Doctor of Optometry (O.D.)

  • Doctor of Medicine (M.D.)

  • Veterinary Medical Doctor (V.M.D.)

  • Doctor of Podiatry (D.P.M.)

  • Doctor of Physical Therapy (D.P.T.)

  • Doctor of Medical Dentistry (D.M.D.)

  • Doctor of Osteopathic Medicine (D.O.)

  • Doctor of Pharmacy (Pharm. D)

  • Doctor of Nurse Practitioner (D.NP)

  • Doctor of Veterinary Medicine (D.V.M.)

  • Doctor of Dental Surgery (D.D.S.)

  • Doctor of Dental Science (D.D.S.)

To qualify, you must also:

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  • Be currently employed or have an employee contract pending by a medical hospital, practice or clinic.
  • Be a U.S. citizen or non-citizen permanent resident of the U.S.
  • Meet minimum debt-to-income and other basic credit criteria.
  • Have qualified student loans between $30,000 -$400,000 for refinancing.

Learn about your student loan repayment options.

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Offer details

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A dedicated private banker to help you plan for the future.

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Additional savings icon

Additional savings when you enroll in autopay6

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Disclosures

* Borrower must make the first full monthly loan payment by the payment due date before receiving the bonus payment. The amount received from Commerce Bank will be a lump sum equal to three (3) times the amount of the first monthly payment amount. Borrower will receive an email from Commerce Bank within 10 days of the date the payment posts with instructions on how to receive the bonus through our payment portal. If Borrower does not respond within 30 business days of the date of the email, a check will be mailed to the home address listed on Borrower’s application. Borrower must make all scheduled loan payments.
** Application must be submitted on or before 4/30/19. Offer valid on approved and funded Commerce Bank Medical Refinance Loans only.

  1. For information on the Federal Direct Consolidation program, visit https://studentaid.ed.gov/sa/repay-loans/consolidation. By refinancing your federal student loans through a private refinance loan program, you will forgo certain benefits and options currently available to you such as federal Income-Driven Repayment plans, deferment, forbearance, and loan forgiveness options.

  2. If you choose a fixed rate option the rate will not increase or decrease for the life of the loan.

  3. If you choose a variable rate option your rate will vary with the market based on the one-month London Interbank Offered Rate (LIBOR) as published by Reuters on its Reuters Screen LIBOR01.

  4. 10-year fixed rate example: a borrower with a $30,000 loan and a fixed APR of 9.75% will make 120 monthly payments of $392.37 for an estimated total in payments of $47,084.40. 20-year fixed rate example: a borrower with a $30,000 loan and a fixed APR of 9.75% will make 240 monthly payments of $284.60 for an estimated total in payments of $68,304.00.

  5. 10-year variable rate example: a borrower with a $30,000 loan and a variable APR of 9.75% will make 120 monthly payments of $392.37 for an estimated total in payments of $47,084.40. 20-year variable rate example: a borrower with a $30,000 loan and a variable APR of 9.75% will make 240 monthly payments of $284.60 for an estimated total in payments of $68,304.00.

  6. Borrower must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month, and may therefore be suspended during a hardship forbearance period.
Information advertised valid as of 3/18/19. COMMERCE BANK RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. To view or print a PDF file, Adobe® Reader® 9.5 or above is recommended. Download the latest version.