Medical and Dental Financing with a Personal Line of Credit

FAQs when financing medical or dental expenses.

• Why should I choose a Personal Line of Credit over medical loans?

  First Republic’s Personal Line of Credit offers several unique features that may not be available with medical loans, including:

  Access to revolving credit: Personal Line of Credit offers access to revolving credit, which allows you to borrow funds up to a preset limit during a two-year draw period.

  Make interest-only payments: With a Personal Line of Credit you have the option to pay interest only on what you draw for the first two years. Learn more about the draw period feature.

  Refinance other eligible debt: Unlike medical loans, a First Republic Personal Line of Credit can help you with other expenses — including minor home improvements, student loan refinancing, auto loans and more.

• How else can I use my Personal Line of Credit?

  First Republic’s Personal Line of Credit can be used as a great cash management tool to keep your savings untouched. From covering elective surgeries to IVF treatments and more, it is designed to help you in more ways than one.

  You can use a Personal Line of Credit to:

  -  Cover minor home improvements
  -  Refinance student loans
  -  Buy or refinance a car
  -  Plan for your family's future
  -  Other: Contact a First Republic banker to learn more about the other ways of using a Personal Line of Credit.

  Please note, only debts that appear on your consumer credit report or student loans can be repaid at origination.

  The Personal Line of Credit cannot be used (among other prohibitions) to refinance or pay any First Republic loans or lines of credit, to purchase securities or investment products, for speculative purposes, for business or commercial uses, or for the direct payment of post-secondary educational expenses. This product cannot be used to payoff credit card debt at origination.

  Note: Currently, all payments for certain types of federal student loans are suspended potentially until June 30, 2023, per an executive order by the President. Interest will not accrue during this time period. For more information, please visit ed.gov.

• Is there a Personal Line of Credit calculator to estimate my monthly payments?

  Use our calculator to see your fixed interest rate options and estimated monthly payments when using a First Republic Personal Line of Credit for medical/dental expenses.

  The Personal Line of Credit calculator will need your date of birth and Social Security number to complete a soft credit pull. This will not affect your credit score.

• How are my loan payments structured?

  The Personal Line of Credit offers a two-year draw period with interest-only payments, followed by a repayment period (sometimes referred to as the amortization period) based on your loan term. During the two-year draw period, you will pay interest only on what you draw and you are able to make principal payments at any time (with no origination or prepayment fees). Principal amounts repaid during the two-year draw period are available to be borrowed again. During the repayment period, you make principal and interest payments throughout the remainder of your loan term.

• What are the requirements to receive the lowest listed rates?
  • You must have a First Republic ATM Rebate Checking account ("Account") with auto-debit for your Personal Line of Credit payments and direct deposit of your main source of income for a 2% relationship-based pricing discount. If the Account is closed, the rate will increase by 5.00%.
  • The lowest available rate includes a relationship-based pricing adjustment for maintaining 20% of the approved amount in your ATM Rebate Checking account with the option to deposit up to half of that 20% into an Eagle Invest account.
  • If you do not opt in to any relationship-based pricing adjustments, a minimum $500 is required to open an ATM Rebate Checking account. A monthly service fee (currently $25) will apply if a $3,500 required minimum average balance is not maintained. 
• I have more questions about Personal Line of Credit and how to use it.

  Get answers to all your product specific questions here.

  For FAQs around how to use a Personal Line of Credit, follow the links below:

  - Cover minor home improvements
  - Refinance student loans
  - Buy or refinance a car
  - Plan for your family's future
  - Other: Contact a First Republic banker to learn more about the other ways of using a Personal Line of Credit.