Physician Mortgage (“Doctor Loan”) Details
Interested in a physician mortgage? Let’s talk about money.
More than 80 percent of medical students borrow money for their education. And it’s a lengthy education. Four years in an undergraduate program. Another four in med school. After that, residency and training for three to seven years. Then board exams, and certification! From there, perhaps a partner in a practice, working up to an independent practice, or research or a specialty.
The average person jokes about how much doctors make, but they rarely realize how much time and money it takes to get there and to stay on top of your field.
We understand your needs, because money is our concern, too. It’s more, it’s our job. Call in a specialist: our Physician Mortgage Program.
What is it? It’s mortgage financing for residents, interns, practicing doctors and pharmacists.
Physician Mortgage Loan Features:
- Available for purchase and refinances
- Fixed rate and adjustable rate loans with interest-only options
- No private mortgage insurance (PMI) required. Save a bundle on this!
- Competitive pricing and special relationship discounts
- Closing costs can be paid by seller, up to 3%, or come from a gift
Licensed medical physicians who have completed their residency within the last six years:
- Up to 100% financing for loan amounts up to $650,000
- 95% financing for loan amounts up to $1 million
- 89.9% financing for loan amounts up to $1.5 million
For Residents, Interns and Fellows:
- Up to 100% financing
- Maximum loan amount of $417,000
- Deferred Student Loans are not counted in debt
Eligible States: Alabama, Arkansas, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, Washington, DC and West Virginia
Contact us today to find out more about our physician mortgage program and how it can help you.
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