A secured medical loan is one secured by a collateral (assets belonging to the borrower in order to decrease the risk assumed by the lender). This collateral may be fortified if the borrower fails to meet the loan requirements.
Secured medical loans applications are more quickly accepted due to a smaller perceived risk to the medical lender. Interest rates associated with secured medical loans can be lower than unsecured loans. Also, the amount of medical loan that can be obtained is higher in case of a secure loan. Secured medical loans are more accessible to those with bad or no credit history.
Approval of your medical loan depends upon your credit rating, your employment and financial status, your income, your outgoings, and the level and type of collateral.
Secured Medical Loan Options
Medical Tourism Corporation has a leading medical loan processing company as affiliate to provide secured and unsecured loans. The medical loan application is confidential and secure.
With one medical loan application the patient gets their application processed by multiple lenders. The application usually takes about two hours to process. Loans with twelve (12) month interest, zero down with low monthly payments are available. Also, there is no prepayment penalty.
United Medical Credit
This company offers medical loans for various healthcare specialties, such as:
- Plastic and cosmetic surgery (including body lift, face lift, scar removal, nose job, breast augmentation, liposuction, and hair transplantation, among others)
- Dental work (such as implants, veneers, bridges, gum surgery, and dental whitening, among others)
- Weight loss surgery (such as gastric sleeve, bypass, and lap band)
- Infertility treatments (including but bot limited to IVF, sperm and egg freezing)
- Other procedures such as hernia repair, spinal decompression, dermal procedures, etc.
You can get more information on their website at United Medical Credit – a leading medical financing company with a track record over 30 years. United Medical Credit offers:
- Easy-on-the-pocket monthly payments
- Competitive interest rates
- Zero prepayment penalty
- Multiple choice of plans
- Interest-free financing also available (terms and conditions apply)
We hope this page will assist you in finding the medical loan you are looking for.
Overseas Surgery Medical Loan Approval Guidelines