EMRA Resident Offers

Notice: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. All mortgage products are subject to credit and collateral approval. Mortgage products are available in all 50 U.S. states and Washington, D.C. Hazard insurance and, if applicable, flood insurance are required on collateral property. Actual rates, fees, and terms are based on those offered as of the date of application and are subject to change without notice.

1. GradFin and Laurel Road are brands of KeyBank N.A.

2. GradFin members that met the requirement for PSLF qualified for an average of $116,160.92 in student loan forgiveness as of 8/21/2023.

3. Member Name members get a $50.00 discount on an annual Public Service Loan Forgiveness (“PSLF”) program membership with GradFin (“Offer”). The discount will be applied on the current annual membership fee of $249.00 and will automatically apply at checkout. This Offer is only available to current Member Name members, is non-transferable and cannot be applied to previous membership purchase(s). This Offer cannot be redeemed for cash or combined with other offers and is subject to cancellation at any time and without notice.

4. To qualify for PSLF, you must be employed by a U.S. federal, state, local, or tribal government or not-for-profit organization (federal service includes U.S. military service); work full-time for that agency or organization; have Direct Loans (or consolidate other federal student loans into a Direct Loan); repay your loans under an income-driven repayment plan; and make 120 qualifying payments. For full program requirements, visit: https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service.

5. Estimated Student Loan Refinance Post-residency Payment Examples

   Borrowers employed full time as an intern, resident, fellow, or similar postgraduate trainee at the time of loan disbursement are eligible to make $100 monthly payments throughout their training (“Residency Period”). These payments may not be enough to cover all of the interest that accrues on the loan. Unpaid accrued interest will be added to the loan principal and monthly payments of principal and interest will begin when the Residency Period ends. Assumptions: Repayment examples shown below are based on an original loan amount of $100,000 and assume that you make $100 monthly payments during the Residency Period of 36 months before the full repayment term begins. Repayment examples do not include any discounts.

   Fixed Rate Loans
   Term	Interest Rate	APR	Monthly Payment	Total Payments
   5 years		3.93% - 5.53%	36 months of $100 60 months of $1,998 - $2,181	$123,506 - $134,441
   7 years	4.35% - 5.85%	4.26% - 5.68%	36 months of $100 84 months of $1,514 - $1,656	$130,755 - $142,743
   10 years	4.59% - 6.03%	4.51% - 5.88%	36 months of $100 120 months of $1,147 - $1,273	$141,188 - $156,336
   15 years	4.81% - 6.33%	4.74% - 6.19%	36 months of $100 180 months of $866 - $994	$159,391 - $182,595
   20 years	4.91% - 6.63%	4.84% - 6.50%	36 months of $100 240 months of $728 - $876	$178,294 - $213,828

   Variable Rate Loans
   Term	Interest Rate	APR	Monthly Payment	Total Payments
   5 Year	3.98% - 5.62%	3.90% - 5.44%	36 months of $100 60 months of $1,994 - $2,170	$123,256 - $133,780
   7 Year	4.25% - 5.75%	4.17% - 5.58%	36 months of $100 84 months of $1,505 - $1,647	$129,982 - $141,921
   10 Year	4.40% - 5.93%	4.32% - 5.78%	36 months of $100 120 months of $1,131 - $1,264	$139,272 - $155,248
   15 Year	4.65% - 6.23%	4.58% - 6.10%	36 months of $100 180 months of $853 - $986	$157,078 - $181,001
   20 Year	4.90% - 6.53%	4.83% - 6.40%	36 months of $100 240 months of $727 - $867	$178,100 - $211,642

   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 30-day Average Secured Overnight Financing Rate (“SOFR”) and changes in the SOFR index may cause your monthly payment to increase. Although the rate will vary after you are approved, it will never exceed 15.00%. There is no limit on the amount your interest rate can increase at one time. The Index is currently published by the Federal Reserve Bank of New York (“New York Fed”). If the Index is no longer available, it will be replaced by a replacement Index according to the terms of the promissory note.

6. The 0.25% Member Name member interest rate discount is offered on new student loan refinance applications from active Member Name members. The Member Name discount is applied to your monthly payment and will be reflected in your billing statement. The Member Name member discount is only available at loan origination and at no other time, and will go into effect on the date the loan funds are disbursed. This offer cannot be combined with any other discounts from Laurel Road affiliated partners or employers.

7. The Laurel Road Linked Checking discount is available to borrowers who open a Laurel Road Linked Checking account simultaneously while refinancing their student loans with Laurel Road. You may also be able to utilize a checking account opened simultaneously with a prior Laurel Road student loan refinance to obtain a discount on your new Laurel Road student loan refinance. Borrowers will receive a 0.25% rate discount for their first three monthly billing cycles. Starting with the fourth billing cycle and continuing with each billing cycle thereafter, the rate discount applied to each billing cycle will be based on the amount deposited via qualifying Automated Clearing House (ACH) transactions into the Laurel Road Linked Checking account during the preceding calendar month; 0.25% for deposits between $2,500 and $7,499 per month and 0.55% for deposits $7,500 or greater per month. Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits. To continue to receive the discount for the fourth billing cycle, you must begin making qualifying ACH deposits to your Laurel Road Linked Checking account during the second month after your loan funds. Note that the discount is only available to the primary checking account owner and is not available to a joint checking account owner. If the primary account owner is no longer an owner on the checking account or the account is closed, the discount on their student loan will cease. Discounts subject to change without notice and cannot be combined with the Laurel Road Linked Savings discount. For more information on the Laurel Road Checking Account visit www.laurelroad.com/refinance-student-loans/checking/#rates-fees-jump.

8. 0.80% discount includes a 0.55% discount for monthly qualifying direct deposits of $7500 or more credited to a Laurel Road Linked Checking account, and a 0.25% discount for AutoPay. The Laurel Road Linked Checking discount is available to borrowers who open a Laurel Road Linked Checking account simultaneously while refinancing their student loans with Laurel Road. You may also be able to utilize a checking account opened simultaneously with a prior Laurel Road student loan refinance to obtain a discount on your new Laurel Road student loan refinance. Borrowers will receive a 0.25% rate discount for their first three monthly billing cycles. Starting with the fourth billing cycle and continuing with each billing cycle thereafter, the rate discount applied to each billing cycle will be based on the amount deposited via qualifying Automated Clearing House (ACH) transactions into the Laurel Road Linked Checking account during the preceding calendar month; 0.25% for deposits between $2,500 and $7,499 per month and 0.55% for deposits $7,500 or greater per month. Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits. To continue to receive the discount for the fourth billing cycle, you must begin making qualifying ACH deposits to your Laurel Road Linked Checking account during the second month after your loan funds. Note that the discount is only available to the primary checking account owner and is not available to a joint checking account owner. If the primary account owner is no longer an owner on the checking account or the account is closed, the discount on their student loan will cease. Discounts subject to change without notice and cannot be combined with the Laurel Road Linked Savings discount. For more information on the Laurel Road Checking Account visit (laurelroad.com/refinance-student-loans/checking/#rates-fees-jump. If you choose to make monthly payments automatically by electronic fund transfer (EFT) from a bank account, the rate will decrease by 0.25% and will increase back if you stop making monthly payments (or we stop accepting) automatically by EFT from your bank account. The 0.25% AutoPay/EFT Discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.

9. You must open a Laurel Road Checking account simultaneously while refinancing your student loan with Laurel Road by 01/08/2024 at 11:59 p.m. (ET) and make one or more qualifying direct deposits via an Automated Clearing House (ACH) transaction into the Laurel Road Checking account totaling at least $2,500 within the first 60 days after account opening to receive the $300, which will be deposited into your account within 60 days of meeting requirements. Applications are subject to approval and processing times. Click here for current Laurel Road Checking Rates. Normal account service charges and miscellaneous charges may apply to the Laurel Road Checking, which may reduce earnings. Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits. Limit one bonus per qualifying account and per individual. If you were the primary owner on any Laurel Road checking account within the prior 12 months before opening the new checking account, you are not eligible for the bonus offer. The value of the bonus may be reported to the IRS on Form 1099-INT. Accounts must be in good standing and cannot be overdrawn or closed at the time of bonus payment. Offer is subject to cancellation without notice and cannot be combined with any other bonus offer. Laurel Road is not responsible for, and will not honor, promotional offers that appear on third-party websites that are not authorized by Laurel Road.

10. Checking your rate with Laurel Road only requires a soft credit pull, 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.

11. After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for forbearance of payments for one or more 3-month time periods (however, a minimum of twelve (12) months are required between any two forbearance periods). Borrowers with a loan term of at least ten (10) years are eligible for up to twelve (12) months of forbearance over the life of the loan; borrowers with a loan term less than ten (10) years are eligible for one (1) month for every year of the loan term (e.g., if a borrower’s loan term is five (5) years they are eligible for up to five (5) months of forbearance over the life of the loan). Borrowers seeking an economic hardship forbearance due to unemployment must have made twelve (12) consecutive monthly payments prior to a forbearance request to be eligible. For any other forbearance due to economic hardship, borrowers must have made nine (9) consecutive monthly payments prior to a forbearance request to be eligible. All requests for forbearance are subject to review, including the review of 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. Unless otherwise noted, at the end of the forbearance period, any unpaid accrued interest will be capitalized and be added to the remaining principal amount of the loan.

12. AutoPay / EFT Discount: If you choose to make monthly payments automatically by electronic fund transfer (EFT) from a bank account, the rate will decrease by 0.25% and will increase back if you stop making monthly payments (or we stop accepting) automatically by EFT from your bank account. The 0.25% AutoPay/EFT Discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.

13. The 0.25% mortgage interest rate discount (the “Discount”) is available to borrowers that are an active Member Name member no less than five (5) days prior to at time of closing. The Discount cannot be combined with any other interest rate incentives, applies only to new Loan applications and becomes effective at closing. For fixed-rate Loans, the Discount is a permanent interest rate reduction reflected in the Promissory Note. For adjustable-rate Loans, the Discount is reflected in the interest rate applicable to the initial fixed rate period and in the maximum amount the interest rate can increase over the term of the Loan. Other restrictions may apply.

14. Only available to interns, residents, fellows, doctors, dentists, clinical professors, researchers, or managing physicians with a current license and a degree of Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), Doctor of Podiatric Medicine (DPM), Doctor of Dental Surgery (DDS), or Doctor of Dental Medicine (DMD). Doctors and dentists that are not actively practicing are ineligible. Additional conditions and restrictions apply.

15. No Processing/Application fee represents a savings of $1,095. Other loan fees apply. Refer to your Loan Estimate for all other potentially applicable fees. See FAQ for more details.

16. Laurel Road offers up to $650 in lender's credit towards your mortgage closing costs with participation in the Rewards Program during the application process. Credits cannot exceed borrowers' actual costs to close. For more information on how to obtain the $650 credit, refer to the Rewards Program information here https://www.laurelroad.com/healthcare-banking/mortgage/#disclaimer.

17. The 0.50% Member Name member interest rate discount (“Member Discount”) is offered to personal loan applicants who are active Member Name Members. An additional 0.25% interest rate discount is also available to Member Name members who make personal loan payments through reoccurring electronic fund transfers (EFT) ( “AutoPay Discount”). The Member Discount and AutoPay Discount are only available at loan origination and at no other time, and will go into effect on the date the loan funds are disbursed. The Member Discount cannot be combined with any other offer, except the AutoPay Discount. Theses offers are subject to change without notice. This offer is not guaranteed if you do not meet Laurel Road’s personal loan or AutoPay Discount criteria. Laurel Road is not responsible for, and will not honor, promotional offers that appear on third-party websites that are not authorized by Laurel Road.

18. AutoPay/EFT Discount: if the borrower chooses to setup monthly payments automatically by electronic fund transfer (EFT) from a bank account before closing, the interest rate will decrease by 0.25%. The discount will be reflected in your monthly payment.