Commerce Bank Medical Refinance Loan FAQs
What will be the interest rate on my refinanced loan?
- Variable rates | 7.125% APR2 for a 10-year term1 | 7.375% APR2 for a 20-year term1
- Fixed rates | 6.50% APR3 for a 10-year term1 | 7.00% APR3 for a 20-year term1
Will I be charged loan origination fees?
Will I be charged early repayment fees?
What is my best refinancing option?
How much can I save by refinancing?
Should I just consolidate my loans?
A Commerce Bank Medical Refinance Loan, on the other hand, allows you to consolidate the sum of your federal and private student loans totaling $30,000 - $400,000 into one loan with a new, possibly lower interest rate or a term that better suits your current financial situation.
Will I lose my federal loan repayment benefits if I refinance?
10-year variable rate example: a borrower with a $190,000 loan and a variable APR of 7.369% will make 120 monthly payments of $2,242.37 for an estimated total in payments of $269,084.40. 20-year variable rate example: a borrower with a $190,000 loan and a variable APR of 7.621% will make 240 monthly payments of $1,544.76 for an estimated total in payments of $370,742.40.
Information advertised valid as of 2/25/19.
COMMERCE BANK RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.
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