+ LR-Icons

AMA Member Benefits

Reward yourself with special offers just for members.

As a part of the American Medical Association you're eligible to receive special offers on Laurel Road products.

Student Loan Refinancing

AMA Members get a 0.25% rate discount.1

Variable APRs for AMA members from 2.18% up to 6.40%2. Fixed APRs for AMA members from 3.25% up to 6.77%.2 Discover your personalized rate options online in only a few minutes—with no impact to your credit score!3

Check My Rates

Low fixed and variable rates available when refinancing student loans

Up to 12 months of forbearance is available4

We don't charge any application or origination fees or prepayment penalties

Additional 0.25% discount when automatic monthly payments are made from a bank account5

Mortgage Lending for Physicians

AMA Members get up to $1,650 off closing costs.6

Secure, online home loans with clear options, transparent fees, and the human support you need, when you need it. Check your rates today—with no impact to your credit score!3

Check My Rates

0% down payment options available7

No private mortgage insurance required – for lower monthly payments

Flexible and low interest rates – with fixed and variable options

Clear terms and fees online, with human support when you need it

Personal Lending

AMA Members get a 0.25% rate discount.1

Borrow up to $80,000 with a personal loan if you're in practice or within 12 months of completing training and have a signed contract to practice. Fixed APRs for AMA members 5.25% APR up to 9.74%.2

Check My Rates

Low fixed rates available across various terms

We don't charge any application or origination fees or prepayment penalties

Additional 0.25% discount when automatic monthly payments are made from a bank account5

What Our Customers Think

I have refinanced other loans, but never as easily as with Laurel Road. The online services they offered made this refi a snap, and their rates were lower than other banks, too.

Dr. Peterson

Doctor, Student Loan Refi Customer

Applying to refinance my loan with Laurel Road was so easy! I only needed to collect a few documents and upload them to the website.

Chandy R.

Doctor, Student Loan Refi Customer

Disclaimers

Notice: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. Information and offer are subject to change without notice. All loans are subject to credit approval. Mortgage is also subject to collateral approval.

  1. The 0.25% AMA member rate discount is offered for applications from AMA members in good standing. The rate discount will end if AMA notifies Laurel Road that borrower is no longer in good standing. Offer cannot be combined with other offers, including the Referral Program.
  2. APR stands for “annual percentage rate.” Rates listed include a 0.25% Automatic Payment discount and an additional 0.25% discount available only to current AMA members in good standing. Variable rates may increase after consummation (Variable rates only offered on Student Loans) . Interest rates as of 4/4/2019. Rates subject to change. A borrower's actual rate will be based on loan term and a variety of factors including credit history, current debts, presence of a co-signer, length of residency, and other factors.
  3. For preliminary rates and options a soft credit pull will be conducted, which will not affect your credit score. To proceed with an application, a hard credit pull will be required, which may affect your credit score. Preliminary rates mean a delivery of personalized rates for those individuals who provide sufficient information to return a rate.
  4. After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for full or partial forbearance of payments for one or more 3-month time periods (not to exceed 12 months in the aggregate during the term of your loan), provided that we receive acceptable documentation (including updating documentation) of the nature and expected duration of the borrower's economic hardship. During any period of forbearance interest will continue to accrue. At the end of the forbearance period, any unpaid accrued interest will be capitalized and be added to the remaining principle amount of the loan.
  5. The 0.25% Automatic Payment discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.
  6. Laurel Road is offering up to $1650 in lender's credit towards mortgage closing costs for applications from AMA members in good standing. A $1000 credit will be applied at application and up to $650 can be earned as a "Reward". Credits cannot exceed applicant's actual costs to close. Offer cannot be combined with other offers. More information on “Rewards” see the Mortgage Rewards Program below.
  7. No down payment options available only when purchasing a primary residence and loan amount does not exceed $750,000 and borrower meets credit requirements. Not available in California.

Student Loan Refinance Payment Examples

Fixed Rate Loans
Term Interest Rate APR No. of Payments Monthly Payment Total Payments
5 Year 3.75% – 5.80% 3.75% – 5.80% 60 $183.04 - $192.40 $10,982.35 - $11,543.96
7 Year 4.25% - 6.25% 4.25% - 6.25% 84 $137.84 - $147.29 $11,578.71 - $12,372.11
10 Year 4.55% - 6.65% 4.55% - 6.65% 120 $103.88 - $114.31 $12,465.55 - $13,717.52
15 Year 4.85% - 7.05% 4.85% - 7.05% 180 $78.30 - $90.16 $14,094.03 - $16,229.27
20 Year 5.30% - 7.27% 5.30% - 7.27% 240 $67.66 - $79.16 $16,239.37 - $18,998.12

 

Variable Rate Loans
Term Interest Rate APR No. of Payments Monthly Payment Total Payments
5 Year 2.50% - 6.30% 2.50% - 6.30% 60 $177.47 - $194.73 $10,648.42 - $11,683.56
7 Year 4.00% - 6.35% 4.00% - 6.35% 84 $136.69 - $147.77 $11,481.80 - $12,412.62
10 Year 4.25% - 6.40% 4.25% - 6.40% 120 $102.44 - $113.04 $12,292.50 - $13,564.78
15 Year 4.50% - 6.65% 4.50% - 6.65% 180 $76.50 - $87.94 $13,769.88 - $15,828.74
20 Year 4.75% - 6.90% 4.75% - 6.90% 240 $64.62 - $76.93 $15,509.37 - $18,463.39

Assumptions: Repayment examples above assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include the 0.25% AutoPay Discount.

Annual Percentage Rate (“APR”): This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.

Interest Rate: A simple annual rate that is applied to an unpaid balance.

Variable Rates: The current index for variable rate loans is derived from the one-month London Interbank Offered Rate (“LIBOR”) and changes in the LIBOR index may cause your monthly payment to increase. Borrowers who take out a term of 5, 7, or 10 years will have a maximum interest rate of 9%, those who take out a 15 or 20-year variable loan will have a maximum interest rate of 10%.

Mortgage Rewards Program

As used throughout this Mortgage Rewards Program, the term “Lender” means KeyBank National Association and its affiliates, agents, guaranty insurers, investors, assigns, and successors in interest.

Lender offers applicants the opportunity to participate in a reward-based program (the “Rewards Program”) throughout the Lender’s mortgage loan application process using the Lender’s online mortgage platform. Through the Rewards Program, applicants may have the opportunity to accrue points that will be redeemable and applied towards costs at closing.

The accrued points are earned by choosing certain specified options to complete the mortgage loan application process. The most cost effective and efficient tasks lead to the greatest amount of points. When you close your mortgage, the total amount of points earned are awarded and then converted into a lender credit. The dollar amount of the lender credit is then applied toward eligible non-recurring closing costs or disclosed fees.

Your participation in the Rewards Program is voluntary, and is expressly conditioned on compliance with the Program Rules and with all present and future Program Rules, terms, regulations, policies, and procedures that Lender may, in its discretion, adopt from time to time.

ACCRUING POINTS AND/OR CHOOSING CERTAIN SPECIFIED OPTIONS TO COMPLETE THE MORTGAGE APPLICATION PROCESS DOES NOT AFFECT THE REVIEW OF THE BORROWER’S MORTGAGE APPLICATION, LENDER’S ULTIMATE DECISION REGARDING THE BORROWER’S MORTGAGE APPLICATION, OR ANY TERM OF A LOAN OFFERED BY LENDER OTHER THAN A REDUCTION OF NON-RECURRING CLOSING COSTS OR DISCLOSED FEES.

RULES

  • Only available to individuals legally eligible to obtain a mortgage loan. Proof of age is required at closing.
  • Points are accrued based on tasks performed within a given application. Earnings are accrued per task. Points are earned once per task.
  • Borrowers can accrue up to 650 points per loan transaction. Total points accrued and/or available are located in the “My Rewards” widget.
  • Points are converted on a one-to-one basis to lender credits that will be reflected on the Closing Disclosure and applied to eligible non-recurring closing costs at Lender’s discretion. The maximum available lender credit that may be obtained for the Reward Program is $650.
  • Points accrued during the process may be converted into rewards at the closing of an approved Lender loan, provided the applicants’ application remains active until the time of closing.
  • Points are non-assignable and non-transferable.
  • Accrued points have no cash value, are non-negotiable, and are not redeemable either in whole or in part for cash. Applicants cannot receive cash back from rewards applied at closing. Accrued points have no value in the event that the applicant withdrawals the loan application, the application is withdrawn by Lender as incomplete, or the application is denied.
  • Applied lender credits may not exceed limits that may be imposed on lender credits by investor or program guidelines. Applied lender credits may be modified if the total amount of credit exceeds the maximum allowed under the applicable guidelines.
  • DETERMINATION OF TAX LIABILITY OF REWARDS IS THE RESPONSIBILITY OF THE APPLICANT. APPLICANTS SHOULD CONTACT THEIR TAX ADVISORS WITH ANY TAX RELATED QUESTIONS.
  • Lender has the right, in its sole discretion and without notice, to change, update, revise, limit, supplement and otherwise modify the terms of the Reward Program and impose new or additional terms and conditions on the applicant’s use of the reward program, at any time, at its discretion, with or without notice, even though such changes may affect the accumulation of points or the ability to obtain the reward. Lender reserves the right to change the Program Rules at any time in its sole discretion without prior notice to borrower, including but not limited to: (i) the qualifications for eligibility; (ii) the value of Points earned by the applicant; (iii) the number of Points needed to earn a Reward; and (iv) the Rewards available to be earned. Each such modification will be effective upon posting on the Site.
  • Lender reserves the right, in its sole discretion and without notice, to terminate or cancel the Rewards Program, in whole or in part, or an individual applicant’s participation in the Program for any reason and at its sole discretion, with or without cause. “Termination” means ending the Rewards Program, with no further ability to earn Points and/or convert points at closing by any applicant; “Cancellation” means the expiration or revocation of an individual applicant’s eligibility, for any reason, with or without cause. Neither Termination nor Cancellation of the Rewards Program affects the applicant’s pending loan application(s).

Questions or Concerns Regarding Rewards
If you have questions or concerns regarding rewards, please call at 877-801-4686 or email mortgage@laurelroad.com.

KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This information is current as of October 1, 2019. Information and rates are subject to change without notice.

Terms and Conditions

REFINANCE LOAN – RATE DETAILS, TERMS, AND CONDITIONS

As used throughout these Terms & Conditions, the term “Lender” refers to KeyBank National Association and its affiliates, agents, guaranty insurers, investors, assigns, and successors in interest.

FEE INFORMATION

There are no origination fees or prepayment penalties associated with the loan. Lender may assess a late fee if any part of a payment is not received within 15 days of the payment due date. Any late fee assessed shall not exceed 5% of the late payment or $28, whichever is less.  A borrower may be charged $20 for any payment (including a check or an electronic payment) that is returned unpaid due to non-sufficient funds (NSF) or a closed account.

LOAN AMOUNT

For bachelor’s degrees and higher, up to 100% of outstanding private and federal student loans (minimum $5,000) are eligible for refinancing. If you are refinancing greater than $300,000 in student loan debt, Lender may refinance the loans into 2 or more new loans.

For eligible Associates degrees in the healthcare field (see Eligibility & Eligible Loans section below), Lender will refinance up to $50,000 in loans for non-ParentPlus refinance loans.  Note, parents who are refinancing loans taken out on behalf of a child who has obtained an associates degrees in an eligible healthcare field are not subject to the $50,000 loan maximum, refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for more information about refinancing ParentPlus loans.

ELIGIBILITY & ELIGIBLE LOANS

Borrower, and Co-signer if applicable, must be a U.S. Citizen or Permanent Resident with a valid I-551 card (which must show a minimum of 10 years between “Resident Since” date and “Card Expires” date or has no expiration date); state that they are of at least borrowing age in the state of residence at the time of application; and meet Lender underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements).

Borrowers may refinance any unsubsidized or subsidized Federal or private student loan that was used exclusively for qualified higher education expenses (as defined in 26 USC Section 221) at an accredited U.S. undergraduate or graduate school. Any federal loans refinanced with Lender are private loans and do not have the same repayment options that federal loan program offers such as Income Based Repayment or Income Contingent Repayment.

All loans must be in grace or repayment status and cannot be in default.  Borrower must have graduated or be enrolled in good standing in the final term preceding graduation from an accredited Title IV U.S. school and must be employed, or have an eligible offer of employment.  Parents looking to refinance loans taken out on behalf of a child should refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for applicable terms and conditions.

For Associates Degrees: Only associates degrees earned in one of the following are eligible for refinancing: Cardiovascular Technologist (CVT); Dental Hygiene; Diagnostic Medical Sonography; EMT/Paramedics; Nuclear Technician; Nursing; Occupational Therapy Assistant; Pharmacy Technician; Physical Therapy Assistant; Radiation Therapy; Radiologic/MRI Technologist; Respiratory Therapy; or Surgical Technologist. To refinance an Associates degree, a borrower must also either be currently enrolled and in the final term of an associate degree program at a Title IV eligible school with an offer of employment in the same field in which they will receive an eligible associate degree OR have graduated from a school that is Title IV eligible with an eligible associate degree and have been employed, for a minimum of 12 months, in the same field of study of the associate degree earned.

MORTGAGE TERMS AND CONDITIONS

Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. Mortgage lending is not offered in Puerto Rico. All loans are provided by KeyBank National Association, Member FDIC and Equal Housing Lender.

As used throughout this Mortgage Terms and Conditions, the term “Lender” means KeyBank National Association and its affiliates, agents, guaranty insurers, investors, assigns, and successors in interest.

Lender complies with the Federal Fair Housing Act. Lender does not engage in business practices that discriminate on the basis of race, color, national origin, religion, sex, disability, marital status or family status (including having children under the age of 18 and pregnant women). Lender also does not discriminate because all or part of your income may be derived from a public assistance program or because you have in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that monitors Lender’s compliance with the Federal Fair Housing Act is the Office of the Comptroller of the Currency.

PHYSICIAN & DENTAL PERSONAL  LOAN – RATE DETAILS, TERMS AND CONDITIONS

Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. Mortgage lending is not offered in Puerto Rico. All loans are provided by KeyBank National Association.

As used throughout these Terms & Conditions, the term “Lender” refers to KeyBank National Association and its affiliates, agents, guaranty insurers, investors, assigns, and successors in interest.

ANNUAL PERCENTAGE RATE (“APR”)

This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.

FIXED APR – PERSONAL LOAN FOR DOCTORS AND DENTISTS

Loans are available in terms ranging from 3 to 7 years.  APRs range from 5.75% per year to 8.24% per year for a 3 year loan, 6.75% per year to 9.24% per year for a 5 year loan, and 7.75% per year to 10.24% per year for a 7 year loan. APRs assume a loan of $80,000 for the highest APR and a loan of $10,000 for the lowest APR.

PAYMENT EXAMPLES

Monthly payments can range from $154.62 to $313.32 for a $10,000 loan.  Monthly payments can range from $1,246.90 to $2,515.78 for an $80,000 loan.

INTEREST RATES

The interest rate you are offered will depend on your credit profile, income, and total debt payments. If you are a doctor or dentist, your rate will also depend on whether you have secured employment for after residency and length of training remaining.

AUTOMATIC PAYMENT

Authorizing the loan servicer or lender to automatically deduct monthly payments from a bank of your choice. Borrowers receive a 0.25% rate discount if they pay via Automatic Payment.

FEE INFORMATION

Lender has no origination fees.

LOAN AMOUNT

If you are a doctor or dentist, minimum loan amount of $5,000. Maximum amount of $80,000 for those in practice or residents in training with a contract to practice to start within 12 months. Maximum amount of $45,000 for those in training without a contract to practice to start within 12 months.

ELIGIBILITY

Must be a U.S. Citizen, or Permanent Resident with a valid I-551 card and meet Lender underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements). If you are applying for a doctor or dentist personal loan, you must also have a degree of MD, DO, DMD, or DDS. You are also eligible if you are in your final academic year and have a match letter or contract that requires one of the aforementioned degrees.

DISBURSEMENT OPTIONS

The repayment of any loan will commence immediately after disbursement by Lender.

KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.

This information is current as of April 4, 2019  and is subject to change.