Our Loan Details

The charts and descriptions below describe each loan type and depict the range of loan options for interest rates, APR (annual percentage rate), number of payments, monthly payments, and total payments based on a hypothetical $10,000 loan amount. your own interest rate will depend on the term you choose, as well as your financial and professional profile.

Loan SpecificsPrincipal & InterestHybrid
Interest Rate Ranges3.99 – 13.99%5.99 – 15.99%
APR Ranges4.43 – 14.91%6.45 – 16.94%
Repayment Terms5 and 10 years* 5 and 10 years*
Loan Amounts$5,000 – 50,000 $5,000 – 50,000
Loan Type Personal Personal
Minimum Monthly Payment$75***$75***
ACH Discount0.25%**0%
Type of RateFixedFixed

Doctor Bridge Loan: Principal + Interest

These loans have a lower total cost to borrow but have a larger monthly payment in the beginning than the Interest Only/Principal & Interest Hybrid loans.

Traditional loans offer a fixed monthly payment for the entirety of the loan. Principal and Interest loan would have a fixed payment for each month of the term. A portion of each payment lowers the outstanding monthly balance. 

Principal & Interest Loan: ($9,800 +$200 Fee = $10,000 Total)

TermOrigination Fee Fixed Interest Rate Fixed APR No of Payment Monthly Payments Total Payments

5 Years

$200

3.99 – 13.99%

4.82 – 14.9%

60

$184.12-$232.63

$11,047.19 – 13,957.88

10 Years

$200

3.99 – 13.99%

4.42 – 14.52%

120

$101.20-$155.21

$12,143.59 – $18,624.29

Principal & Interest Loan with ACH Discount: ($9,800 +$200 Fee = $10,000 Total)

Term Origination Fee Fixed Interest Rate Fixed APR No of Payment Monthly Payments Total Payments

5 Years

$200

3.74 – 13.74%

4.57 – 14.65%

60

$182.99 -$231.34

$10,979.70 – $13,880.10

10 Years

$200

3.74 – 13.74%

4.17 – 14.26%

120

$100.01 -$153.71

$12,001.84 – $18,444.45

Doctor Hybrid Bridge Loan: Interest Only and Principal + Interest

First half of loan term will be low interest-only payments; the second half will be principal and interest. These loans have a much lower monthly payment during the interest-only portion and can be easier to manage upfront on a tight budget.

Hybrid Loan – 5 Year: ($9,800 +$200 Fee = $10,000 Total)

TermOrigination Fee Fixed Interest Rate No of Payments Monthly Payment Total Payments

First 30 Months

$200

5.99% – 15.99%

30

$75.00 – $133.25

$2,250-
$3,997.50

Second 30 Months

5.99 – 15.99%

30

$330.59 – $406.57

$9,919.79- $12,197.17

Total Cost of 5 Year Hybrid Loan: $12,169.75 – $16,194.67
APR Over Life of the Loan: 6.86% – 17.01%

Hybrid Loan – 10 Year: ($9,800 +$200 Fee = $10,000 Total)

Term – 5 YearsOrigination FeeFixed Interest RateNo of PaymentsMonthly PaymentTotal Payments
First 60 Months $200 5.99 – 15.99% 60 $75 – $133.25 $4,500- 
$7,995
Second 60 Months 5.99 – 15.99% 60 $159.52-$243.13 $9,569.75-
$14,587.65

Total Cost of 10 Year Hybrid Loan: $14,069.75 to $22,582.65
APR Over Life of the Loan: 6.39% – 16.42%

*The charts and descriptions describe each loan type and depict the range of loan options for interest rates, APR (annual percentage rate), number of payments, monthly payments, and total payments based on a hypothetical $10,000 loan amount. Your own interest rate will depend on the term you choose, as well as your financial and professional profile.

**ACH discount is available only if you agree to make monthly principal and interest payments by automatic electronic payment. Use of autopay is not required to receive a Doc2Doc program loan from the Bank of Lake Mills.

***Minimum Monthly Payment applies to Principal and Interest Loans and Hybrid Loans.