This type of loan is based upon your credit and income, and does not use collateral to guarantee the loan. The bank, or loan company, will determine how much you may borrow and at what rate, as well as the terms of repayment. This type of loan is harder to get than a home equity loan and typically has a higher interest rate. Your surgeon may also be affiliated with a loan program, but be sure to compare interest rates with other sources if you qualify for this type of loan.
Pay close attention to the interest rate and compare it to your other options. If you have a credit card that offers a very low rate, the credit card may actually be a more attractive option.
