Physician Loans
Which Loan is Right for You?
Finding the right financing can be the most challenging aspect of finding a home for anyone with significant student debt, especially for young doctors. Our team can help you find the right loan, and the right home.
There are many mortgages and financing options out there for physicians, and even some for other licensed medical professionals. However, the difficulty is in determining which loan is right for you. We know the advantages and disadvantages of every physician loan on the market and can help you find the loan that's right for you and your family.
- Low down payments - 0% to 5%
- High loan limits, up to $1 million or more
- Deferred Student Debt is not included in debt ratios
- No Private Mortgage Insurance (PMI) Required
- Closing cost can vary by thousands of dollars between lenders
- Interest Rates
- Availability varies by location
- The "Doctor Loan"
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Offering the best terms on Home Loans designed for physicians - whether you are a resident, fellow or attending you can get:
- 5% Down Payment
- Loans up to $850,000
- No Private Mortgage Insurance (PMI)
- Deferred Student Debt not counted in debt-to-income ratios
- Free Appraisal
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When you purchase a home through this partnership, Bank of America will cover the cost of the appraisal of your new home.
- Seller Paid Closing Costs
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With a Bank of America mortgage, the seller can pay your closing costs, up to 3% of the value of the home.
- Leveraging Signing Bonuses
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What if the signing bonus you offered new staff encouraged them to remain a member of the practice even after their contract expired? We can help you make that happen. Click the "Contact Bank of America" tab below and contact us for more details.
- Contact Bank of America
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You can contact us with the form below or use the Bank of America Online Mortgage Center.
- For Established Physicians
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Offering the best terms on Home Loans designed for established physicians out of fellowship or residency:
- 0% Down Payment on loans to $650,000
- 10% Down Payment up to $2 million
- No Private Mortgage Insurance Required!
- For Residents and Fellows
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Unique home loan program for current Residents and Fellows and recent graduates:
- 0% Down Payment on loans to $500,000
- 5% Down Payment up to $1 million
- Deferred loans not counted in debt ratio
- No Private Mortgage Insurance Required!
- 90 days prior to your contract start date
- Other Medical Professionals
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Home Loans for the Medical Community:
Licensed, Accredited or Certified Healthcare Workers: Medical Technicians, Therapists, Nurses, Pharmacists, Radiology Technicians- 3% Down Payment on loans to $417,000
- Deduct .125 from the interest rate
- Ask about reduced closing cost options
- 1% Interest Rate Reduction
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Reduce your interest rate with these options:
- Temporary Reduction of 1% for first year
- Permanent Rate Reduction of 1/8%
- First Time Homebuyers
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First Time Homebuyer? We'll walk you through the home buying process to help you make a confident, informed decision.
- Do's and Don'ts of buying your first home
- What to expect from your lender & Realtor
- Special loan and down payment options
- Benefits of owning vs. renting
- Contact Fifth Third Bank
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