A doctor’s career can be segmented into three phases:
- School years
- Post-graduate training year
- Practicing years
Borrow Money in the School Years
- Relocation following graduation
- Initial housing outlay – first month rent, last month rent and security deposits
- Down payment on a home (when it beats renting)
- Engagement and wedding expenses
- Car purchase or repair costs
Borrow Money in the Training Years
- Childcare expenses
- Moving expenses (when it can’t be negotiated in an initial employment agreement)
- Refinancing of credit card debt
- Oocyte cryopreservation
Borrow Money in the Practicing Years
- Unexpected emergency expenses (that exceed your personal emergency fund)
- Home improvements (when saving beforehand is not possible)
- Credit card consolidation
- Career development
Should I borrow money?
The first question to ask when considering whether to borrow is: “Can I do what I need to do without additional debt?”
If the answer is “no”, then Doc2Doc can help you get to where you need to be.
Applying for pre-approval through Doc2Doc will not impact your credit and will provide you with a preliminary interest rate. After receiving your pre-approval, you should have the information necessary to know if a Doc2Doc loan is right for you.