You probably won’t have tons of cash early in your career. Loans and lower income often delay life decisions, including getting engaged or married. Because of this, doctors and dentists may fear that important, life-changing decisions are years, if not decades, away. When one event gets delayed, other life events get delayed too, such as buying a home, starting a family, and settling down in their favorite town.
Knowing this reality, the team at DOC2DOC lending created a wedding loan and engagement loan program, designed specifically to help doctors kick start their personal and financial future. The idea is all about equipping doctors and dentists with the funds they need to pursue marriage and start their family without medical debt or cash flow getting in the way.
Why We Created this Program
We created this program because, as doctors and dentists ourselves, we understand that your long term financial prospects are better than your current situation. You’re ready to start your new life and build your family, but your current financial situation puts all that on hold.
This is especially important because doctors, on average, get engaged and married later than the general public.And it’s no surprise why: Doctors and dentists want to give their partner the best engagement, wedding, and home possible, but so many of them feel held back by their career.
We don’t believe they should. We believe that getting married, buying a house, and starting a family are all enriching goals that only improve your life, personal and professional. Your career prospects don’t have to interfere with pursuing personal life goals.
Here’s how it works:
Instead of waiting to get engaged or married because you don’t have the cash on hand, you can apply for a wedding or engagement loan through us. We process a “soft” credit check, which doesn’t affect your credit score in any way. We do this because we know how essential it is to build your credit as early as possible.
We quickly review your application to determine your “physician-preferred” rate. Once you get approved, you’ll quickly get to use that loan toward engagement rings, your wedding, honeymoon, and other costs to help you get started on the right foot with your spouse. That way, you won’t spend years waiting for your income to rise before moving forward with your personal life. If you enrich your personal life, you accelerate your career and make more money sooner.
Wedding and engagement loans are personal installment loans, so your physician-preferred interest rate generally provides a lower interest rate and helps you avoid racking up costly credit card debt. This is critical to know because the average credit card debt in the U.S. stands at $5,934 as of Q4 2021. At the same time, overall credit card debt is $860 billion.
Plus, because your application doesn’t impact your credit score, your installment loan payments help you significantly improve your credit score. Finally, once your career takes off, and you’ve established your income, you have the freedom to pay off your loans at any time without any prepayment penalties. This way, you have a lender who understands your trajectory and helps you get there faster.
If you’re interested in learning more about our services, or how we can help you with your finances as a new or training medical professional, contact us here.