Purchasing a home in Virginia can pose significant challenges for physicians, given their unique financial situations characterized by extensive education and student loan debt. Securing a traditional mortgage can be difficult due to these financial hurdles.
Fortunately, physician mortgage loans offer a solution, providing doctors with favorable terms and the opportunity for little to no money down.
How Do Physician Mortgages Work in Virginia?
Physician loans, also known as doctor mortgages, are designed specifically for medical professionals who may have unique financial situations. These loans offer favorable terms such as low or no down payments, no private mortgage insurance, and flexible debt-to-income ratios. Typically, lenders who offer physician loans will take into account a doctor's potential future income when considering their eligibility, rather than just their current income and debt. This is because medical professionals often have high earning potential, but may also have significant student loan debt that can impact their current financial standing. By taking this into account, physician loans can help make homeownership more accessible for doctors who may not be able to qualify for traditional mortgages. Physician loans are an option for doctors who are looking to purchase a home in Virginia and can help make their dream of homeownership a reality.
Best Doctor Mortgages in Virginia
Physician mortgage loans have emerged as a popular option for medical professionals who are looking to purchase a home.
Doctor mortgages offer favorable terms, such as low or no down payments, no private mortgage insurance, and flexible debt-to-income ratios, making homeownership more accessible to physicians in Virginia.
Here are the best physician mortgage loans available to medical professionals in Virginia.
BCU *
- Variety of portfolio products available.
- Student loans may be excluded from your debt ratio.
- Up to 100% financing – no mortgage insurance required.
- Home equity, bridge loans, and construction loans also available.
MD, DO, DDS, DMD, Resident, Fellows, PA, NP, OD, Pharmacist
Phone: OFFICE - 224-207-2603/ CELL– 916-601-8782
Disclaimer:
Federally insured by NCUA. We Do Business in Accordance with the Federal Fair
Housing Law and the Equal Credit Opportunity Act
Atlantic Union Bank *
At Atlantic Union Bank, we recognize the hard work you put into getting where you are today as a medical professional. Whether you have years of experience as a doctor or are a recent grad with a contract for employment, we have a home loan program designed to fit your needs.
0% down for loans up to $1M; 5% down from $1M to $1.5M; 10% down from $1.5M to $2M
No mortgage insurance
No limit on the length of time out of residency
Student loans deferred for at least one year may be excluded from debt-to-income qualifications
Qualify using future income with an employment contract and a start date within 90 days of closing
Eligible for interest rate discount with an automatic payment from an Atlantic Union Bank deposit account
Fixed and adjustable-rate options
MD, DO, DDS, DMD, Resident, Fellows, DVM, DC, OD, DPM, Pharmacist
Combine our Medical Professionals Home Loan with our Certified Buyer Pre-Approval Program, which isn’t your standard pre-qualification. We’ll fully underwrite your loan to determine how much you could be approved for by verifying your information and documentation. This can make you as attractive as a cash buyer when negotiating for your home and may even make the difference between your offer being accepted over another!
Close your loan in as little as 10 business days after pre-approval. Compete directly with cash buyers and remove the need for a financing contingency.
Phone: 615-484-6690
*Maximum loan amount for licensed medical residents and interns is $750,000.
Atlantic Union Bank NMLS #551889. This is not a commitment to lend or extend credit. All loans, credit and collateral are subject to approvals. Terms, rates, data, programs, information and conditions are subject to change without notice. Specific program restrictions may apply so please consult your dedicated Mortgage Loan Officer for complete details. Owner-occupied residences only (single family homes, Fannie/Freddie warrantable condos and townhomes). Borrower(s) may only have one (1) Medical Professionals Program serviced by Atlantic Union Bank at any time. Not all loans or products are available in all states.
United Bank – Mortgage *
United Bank understands that as a medical professional, you may be in a unique financial situation that may make this program a good option for you. We combine personal care with a seamless digital homebuying experience designed to provide you with a customized, secure, and transparent mortgage solution. You will know where you are in the process and you can easily upload, sign, and submit required documents all in one place using our secure interface. We are with you every step of the way. Our intuitive technology allows you to connect with our trusted mortgage professionals from any location, on any device, anytime.
Professional Program1
- No down payment options available depending on loan amount and product type
- Primary Residence Only
- No Private Mortgage Insurance Required
- Adjustable Rate or Fixed options available
1Loan program is available in the following lending territory: VA, MD, DC, DE, GA, NC, SC, WV , KY**, OH**, and PA**
**Property must be located within 90 miles of a United Bank branch
Qualified doctors include PharmD, MD, DD, DMD/DDS, psychiatrists licensed as MDs and veterinarians (DVM or VDM). This program is also available to applicants still in residency, internship or fellowship (with certain restrictions).
MD, DO, DDS, DMD, Resident, Fellows, DVM, Pharmacist
Low Down Payment Options
No Private Mortgage Insurance Required
Purchases or No Cash-Out Refinances
Adjustable Rate or Fixed options available
Phone: 919-480-2075
United Bank | NMLS# 522399 (www.nmlsconsumeraccess.org) | Equal Housing Lender | Member FDIC. ADVERTISING NOTICE – NOT A COMMITMENT TO LEND – SUBJECT TO PROGRAM AVAILABILITY. This is not a commitment to lend. All loan applications are subject to credit and property approval. Annual Percentage Rate (APR), programs, rates, fees, closing costs, terms and conditions are subject to change without notice and may vary depending upon credit history and transaction specifics. Other closing costs may be necessary. Flood and/or property hazard insurance may be required. To be eligible, buyer must meet minimum down payment, underwriting, and program guidelines.
Guaranteed Rate Affinity *
If FICO Score is 720 or above, the following options are available:
- 100% financing to $1,000,000 no PMI
- 95% financing to $1,750,000 no PMI
- 99% financing to $2,500,000 no PMI
If FICO Score is 680-719, the following options are available:
- 95% financing to $750,000 no PMI
- 99% financing to $1,500,000 no PMI
- 75% financing to $2,500,000 no PMI
30 Year & 15 Year Fixed
5,7,10 & 15 Year Adjustable Rate
MD, DO, DDS, DMD, DVM, DPM
No Cost Pre-Approval with soft- credit pull.
1-2 unit properties, Condos (warrantable/non-warrantable), PUD, Townhouses, Modular Homes
DTI up to 50%
Available to US Citizens, Permanent Resident Aliens, Non Permanent Resident Aliens, and Foreign Nationals
Flexible underwriting guidelines such as the ability to use future employment, 1099 contract income, and gift funds.
Besides our Medical Professional Program, we also have conforming and jumbo mortgage programs for:
- Purchase or Refinancing
- Primary residence
- Second Home/Vacation Home
- Investment
- HELOC, HELOANS, 2nd Mortgages
- VA (Purchase/IRRL)
- FHA
- USDA
- DPA – Down Payment Assistant
- Non-QM offerings
- DSCR
- Asset Utilization
- Business and Personal Bank Statement loans
- P&L, 1099 Loans
- Bridge Loans
- Reverse Mortgages (HECM & Purchase Reverse)
- Fix & Flip
- ITIN
- CashReady
Phone: 914-434-5036
Guaranteed Rate Affinity: 1800 W Larchmont Ave Chicago, IL 60613 NMLS ID: 87100
For more information about this or any of our loan offerings for medical professionals, please speak with a Guaranteed Rate Affinity loan officer. Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Refinancing your mortgage may increase costs over the term of your loan. Restrictions may apply.
Guaranteed Rate Affinity, LLC is a subsidiary of Guaranteed Rate, Inc.; NMLS #1598647; For licensing information visit nmlsconsumeraccess.org. Equal Housing Lender. Conditions may apply.
Fairwinds Credit Union *
Tailored Home Financing for Medical Professionals
You serve the community, we serve you. The FAIRWINDS Physician Loan Program makes it easy for doctors, dentists, and other medical professionals to achieve their homeownership dream. From medical school debt to other financial challenges, we understand the unique mortgage needs of healthcare workers. That's why we exclusively offer options for lower monthly payments without PMI premiums on everything from new home purchases to refinancing.
When you get a mortgage through FAIRWINDS, we'll help you get approved with no PMI, meaning you can save hundreds of dollars each month. Plus, we offer a variety of loan solutions to help you find one that fits both your budget and long-term goals.
Speak with a lending expert and start your journey towards home ownership and financial freedom today:
- Primary Residence Purchase or Rate/Term Refinance
- Fixed Rate 30, 20, 15 or 10 year Term
- Variable Rate 10/6 & 5/5 Term
MD, DO, DDS, DMD, DPM
- 100% financing up to $1 million
- 95% financing up to $1.5 million
- 90% financing up to $2 million
- No private mortgage insurance required, helping you save more each month
- Use your future income to qualify—even up to 90 days before your job starts
- Deferred student loan payment calculated at just 0.50% of the balance
- Newly self-employed (1099) ? Only one year of tax returns required, or emp contract
- Save Money with no application fee and biweekly payments
- On-time closing guarantee
- Rate Re-Lock Program
- Max dti 50%
- Min score 680
Phone: 904-860-5564
Federally insured by NCUA. Equal Housing Opportunity.
FAIRWINDS NMLS #715408
Novus Home Mortgage *
Our home loan for Medical Professionals or Physicians was designed to help those in the medical profession achieve their dreams of homeownership. At Novus Home Mortgage, we are committed to finding the right mortgage for our customers, including those who are committed to save lives. We understand your unique needs. You might have accumulated debt to become a healthcare professional, but we are here to help you! Our offering will help you buy a home early in your career, and sometimes even before you start your new job!
We are a nationwide portfolio and correspondent lender with in-house underwriting providing quicker closings.
We offer services for:
- Purchase
- Refinance
- Construction
For:
- Primary residence
- Second Home/Vacation Home
- Investment (LTR)
- Short Term Rental (STR)
- Multi-family and Mixed-use properties up to 8 units
Other products offered:
- Fannie Mae & Freddie Mac – Conventional, and High Balance
- Community Reinvestment Act (CRA)
- VA – No Loan Limit, No DTI Limit
- Jumbo – as low as 10% down
- FHA
- USDA
- ITIN – as low as 10.01% down
- Construction loans – Conventional & FHA (min 5% down), VA (min 0% down), Jumbo (min 20% down)
- DPA for qualified borrowers
- Non-QM – DSCR (LTR & STR), Business and Personal Bank Statement, 1099, Asset Depletion, etc
It’s attention to the “details” that sets apart the finest Loan Officers. Please reach out 24×7. My team and I are here to understand your mortgage and financial needs and find the best financing solution for you.
0% down up to $1 MM loan amount
5% down up to $1.75 MM loan amount
10.01% down up to $2.5 MM loan amount
Min 720 FICO to qualify for above min down payment
Can go as low as 680 FICO – with higher down payment
Owner occupied Primary Residence
1-2 unit residential property – Single Family, Townhome, PUD, Condo, Duplex
Non-Warrantable Condos are covered – min 10.01% down
Modular Homes
Rental income can be used to meet DTI requirement
50% Max DTI
No MI
No Prepayment Penalty
MD, DO, DDS, DMD, Resident, Fellows, DVM, DPM
We say YES!
Yes to 1099 income without 2 yr history (conditions apply)
Yes to using future income to qualify – don’t have to wait to be within 90 days of start of new job (additional reserve requirements will apply)
Yes to all covered professionals – No limit on the number of years out of residency/fellowship
Yes to US residents including work Visa holders – Permanent Residents Aliens, H-1B, J-1, TN NAFTA and others
Yes to acreage (normal for the area)
Yes to you owning multiple properties (additional reserve requirements will apply)
Yes to significant other and/or family to be co-borrower/co-signer to help you qualify, even if they will not occupy the property
Yes to gift funds from family members
Yes to DPA funds if you qualify (hint hint residents!!!)
Yes to Bridge loan if you have equity in the current house and need to access it to purchase new home
Yes to a Construction loan to build your dream home
Phone: 571-331-5161
Subject to credit approval. Terms and conditions may apply. VA is subject to VA eligibility requirement. Property insurance is required for all loans secured by property.
Novus Home Mortgage is a division of Ixonia Bank, NMLS #423065 | All Rights Reserved | novushomemortgage.com
Member FDIC | Equal Housing Lender
Genisys Credit Union *
Genisys Credit Union Offers a Custom Tailored Physician Mortgages with loan amounts up to $5,000,000. Common sense approach based on demonstrating (ATR) ability to repay. We offer the lowest rates with highest LTV in the industry to qualified Physicians. We are full service financial institution offering all services from deposit to car loan. Our Specialty is high end Mortgages.
0% down to $1,500,000, 10% down to $2,000,000, 15% Down to $2,500,000, 20% to $4,000,000+ No Adjustments for Condos or New Construction Loans
5/6 ARM
7/6 ARM
10/6 ARM
10 Year Fixed
15 Year Fixed
20 Year Fixed
30 Year Fixed
MD, DO, DDS, DMD, Resident, Fellows, DVM, CRNA, DNAP, DPM, Pharmacist, PhD
Common sense approach to underwriting.
Ability to offer bridge financing when trying to sell a current home and buying a new one.
Genisys Credit Union offers Physician Construction Loans under the same terms as purchase.
No reserves required on most products.
GREAT RATES
Phone: 586-764-1826
Federally insured by NCUA We Do Business in Accordance With the Federal Fair Housing Law and the Equal Credit Opportunity Act
Oak Leaf Community Mortgage ∑
Powered by North Shore Trust and Savings 100+ years in banking, we are excited to guide you along your home financing journey. We are committed to understanding your unique scenario to uncover the optimal solution for you and your family. Expanded access to a plethora of mortgage options ensures if there is a solution, we will find it to get you home. Client satisfaction is paramount, and my team will strive to exceed your expectations with our knowledge, communication, and on-time execution.
100% Financing up to $1 Million
95% Financing to $1.75 Million
89.99% to $2.5 Million
30 Fixed, 15 Fixed, 15/6 ARM, 10/6 ARM, 7/6 ARM, 5/6 ARM, 3/6 ARM and 1/6 ARM
MD, DO, DDS, DMD, Resident, Fellows, DVM, DPM
Available in 46 of 50 States (Excludes AK,CA,HI,NV, DC)
No Points (unless quoted), No PMI, No Prepayment Penalty
680+ credit score solutions available
No Limitations on Time in Practice
W2 employees close up to 90 days in advance of start date * Conditions Apply
1099 employees close up to 60 days in advance of start date * Conditions Apply
Gift Funds OK for down payment, reserves or closing costs
Up to 50% DTI
Cash Out Refinance Financing Available
1-2 Unit Primary Residence including Townhomes, Warrantable Condos and Non-Warrantable Condos *
Conditions Apply
Phone: 708-250-9627
Oak Leaf Community Mortgage – Powered by North Shore Trust and Savings
Company NMLS# 438265, Equal Housing Lender, Member FDIC
Additional Information available at www.myoakleaf.com
All Loans Subject to Credit Approval. Terms and Conditions Apply, Program Terms and Availability Subject to Change
Alliant Credit Union ∅
Alliant Credit Union has created an industry leading Medical Professional Loan Program available in all states except Maryland.
No PMI. Closing available 90 days before employment starts. Minimum FICO score of 700 to qualify. Maximum debt to income ratio 45%. Medical Professionals may borrow 100% up to $1,250,000, 95% financing up to $1,500,000, and 90% financing up to $2,000,000. Most lenders require that you have completed training within the last 10 years, Alliant Credit Union has no such limit.
Conforming & Non-Conforming
Fixed & Adjustable Rate
30- & 15- Year Fixed, 5/6, 7/6, 10/6 ARMs
MD, DO, DDS, DMD, Resident, Fellows, DVM, DPM
Student Loan Debt omitted in qualifying ratios if deferred at least 12 months
Ability to use income based repayment schedule if not deferred for 12 months
No limit on time elapsed since the completion of training
Financing available for single family, condos, and two family owner occupied residences
Warrantable and non-warrantable condos allowed
Available to US Citizens, Permanent Resident Aliens, Non Permanent Resident Aliens, and Foreign Nationals
For other professionals we have Our First Time Homebuyers program with up to 100% financing available with no PMI.
Second Home Financing available up to 90% financing.
Construction Financing available up to 90% financing (AZ, CO, IL, IN, MI, NC, SC, and WI)
Please contact the Mortgage Loan Officer listed above covering the state in which you are purchasing.
Phone: 630-240-2203
Alliant Credit Union NMLS#: 197185.
Rates, terms, and conditions are subject to change. The 5/6, 7/6 and 10/6 ARMs offer a fixed rate for the initial period of the loan and adjust to a 6 month ARM after that period. The interest rate and monthly payment may adjust bi-annually based on the 30 day average Secured Overnight Funding Rate (SOFR), plus a margin of 2.75 percentage points with a 5% life time cap.
Rates can vary based on risk factors which include but are not limited to LTV, credit score, and debt to income ratio.
Mortgages available in all states except Maryland. Loan approval, interest rate, and downpayment required based on creditworthiness, amount financed, and ability to repay. Rates, terms, and conditions are subject to change and are subject to credit and collateral approval.
Rates can vary based on risk factors which include but are not limited to LTV, credit score, and debt to income ratio.
CrossCountry Mortgage ∉
Mortgage Solutions Aren’t One-Size-Fits-All
At CrossCountry Mortgage, we separate ourselves from other mortgage lenders by offering exceptional customer service and a broad selection of home financing products. In addition to Physician Mortgages, our portfolio has an extensive range of products — from conventional and jumbo mortgages, to government-insured programs for veterans and rural home buyers, to programs that enable you to make full-cash offers — each homebuyer is different, so we make sure there is a solution for every lifestyle and personal situation.
7, 10 and 15 year ARM. 15 and 30 Year Fixed
MD, DO, DDS, DMD, Resident, Fellows, DVM, DPM
CrossCountry’s Physician Loan Program offers low and no down payment options for Medical Doctors, Dentists and Veterinarians. Our program includes flexible underwriting guidelines such as the ability to use future employment, 1099 contract income, gift funds, and relaxed student loan qualifications.
We value your contributions as healthcare professionals, so we also offer our Preferred Mortgage Savings to members of the White Coat Investor community. Through this affinity program, we will waive our lender and appraisal fees, providing a savings of up to $2198.
Ready to get started? Contact the loan officer for your state to learn more and complete our online application.
Phone: 617-429-2059
Liberty Federal Credit Union ∀
Liberty Federal Credit Union is a member-owned financial institution focused on returning value through innovative products and services. Liberty has been recognized on a state level by Forbes as one of Indiana’s best financial institutions. In recent years, the credit union has also received acclaim on a national level, including being named the nation’s Best Credit Union for Checking by Investopedia in 2021 and appearing on Newsweek’s list of America’s Best Banks in 2022.
Liberty Federal Credit Union excels in providing value through better loan options for borrowers. For instance, the credit union offers an uncommonly wide variety of mortgage options to ensure the best fit for its members. According to the American Credit Union Mortgage Association, Liberty FCU was the Midwest’s top credit union in 2021 total first mortgage originations.
Program features:
- No Private Mortgage Insurance (PMI)
- 100% financing up to $970,800 loan amounts
- 95% financing for $970,801 to $1,500,000 loan amounts
- 90% financing for $1,500,001 to $2,000,000 loan amounts
- Purchases and rate/term refinances are eligible
- Low credit score requirement of 680, plus free in-house credit repair
- We are committed to offering your lowest rate. If you find a lower rate, we’ll match it.1
Receive a gift card worth up to $500 on closing! 2 Plus, pair your mortgage with your Liberty FCU checking account and debit card to receive a 1/8% APR interest rate discount. 3
MD, DO, DDS, DMD, Resident, Fellows, OD, DPM, Pharmacist
Whether you just began your residency or you are an established physician, Liberty FCU is dedicated to helping you secure the home of your dreams.
This program is available to residents, fellows, new, and established physicians alike. 4 We will gladly work with you and your busy schedule. Pre-qualification can be done easily online or through email.
Phone: 502-767-7867
Loans are subject to credit review and approval. Closing costs may apply. Liberty FCU mortgage lending product availability may vary based on property location. A sample principal and interest payment on a (7)-year $500,000 adjustable-rate loan amount with a 3.500% interest rate (3.575% APR) is $6,719.93. Taxes and insurance are not included; therefore, the actual payment obligation will be greater. Actual interest rate may vary based on credit history. Additional rates and programs available. Visit us online for current rate information. Contact a Liberty FCU mortgage loan officer for more details.
1 Rate Match Guarantee available for new purchases and refinanced first mortgage loans of primary residences with conventional conforming financing. Certain product exclusions may apply. Loan Estimate from competing lender must be dated and received within three calendar days prior to locking your interest rate at Liberty FCU. The terms of the competing loan must be identical to Liberty FCU’s loan. If the loan does not close within the commitment period, the rate match may be voided. This offer is subject to credit approval and may change or terminate without notice. Offer is not applicable to government loans, including FHA, USDA, and VA financing. Not valid in combination with 1/8% rate discount. Product offerings may vary by state or region.
2 Gift card offer is available on financing of purchase or construction loans for primary residences only. Purchase or construction loan amounts up to $149,999 will receive a $250 gift card. Purchase or construction loan amounts of $150,000 or greater will receive a $500 gift card. Not valid in combination with any other offer.
3 Discount available on conventional conforming financing of purchases for primary residences only. Offer available for new primary mortgage loans and mortgage loans already established at Liberty FCU when refinanced with at least $10,000 new money. Closing costs may apply. Liberty FCU verifies the past checking history of applicants with ChexSystems, a national consumer reporting network. Information obtained from the report could result in checking account denial. Certain product exclusions may apply.
4 Available to residents, fellowship, newly established, or established physicians with MD, DO, DDS, DMD, OD, or DP credentials. Rates listed are specific to the Physician Loan mortgage program. Standard mortgage rates may vary.
U.S. Bank ††
Residents with 6 months or less left in their residency or Fellowship programs who have accepted permanent positions or doctors that have completed residency within the past 10 yrs are eligible for the physician mortgage loan.
MD, DO, Resident, Fellows
Phone: Office- 916-498-3402 / Cell- 916-837-4531
Equal Housing Lender. Member FDIC.
Citizens Bank
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $226.7 billion in assets as of December 31, 2022. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,400 ATMs and approximately 1,100 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities.
Borrowers may be self-employed physicians (2 year history needed) or medical researcher
Up to 95% financing up to $850,000/89% to $1M/85% to $1.5M on purchase & refinance
Up to 85% on Construction to Permanent loans with 12, 15 or 18 month build & one-time close
NO Private Mortgage Insurance Required
Non US Citizens are eligible
Can use employment contract income & close on your home 90 days prior to start date
SPECIAL banking relationship discount through a Citizens Bank Account
Seller Contributions Allowed
RECAST option available
30yr, 20yr, 15yr and 10yr fixed rate loans, 5,7 or 10 yearARMs.
Minimum credit score of 700
Student Loan Debt omitted in qualifying debt ratios if deferred at least 12 months following closing.
Ability to use IBR payment if not deferred for 12 months
Borrowers must have completed residency or fellowship within the last ten years, be a newly licensed
medical resident or about to begin new employment or residency within 90 days of closing.
MD, DO, DDS, DMD, Resident, Fellows
Superior service, loan exceptions available and flexibility in underwriting.
Working exclusively with medical professionals.
Offer both fixed and adjustable rates with low down payment and no PMI
Also offer construction to permanent loan
Flexibility with student loan payments
Phone: 603-828-1743
First Horizon
Currently we offer several physician programs. Our most popular product will allow the following:
- 100% financing up to a $1.5 million loan amount
- No PMI
- No restrictions for time out of residency
- Very low reserve requirements
- Minimum credit score of 680
- Can close up to 6 months prior to employment start date
MD, DO, DPM, OMS
Clearly a strength is our product is more flexible than most of our peers. We have been able to help several physicians who were turned down elsewhere for the product recently. Allowing physicians to be greater than 10 yrs out of residency and still qualify has been helpful to many. The opportunity to provide 100% financing up to $1.5 million, and 95% financing up to $2 million, and 90% financing up to $2.5 million has been strong compared to competitors. Condos are allowable under the product.
Phone: 813-603-4255
Truist
Phone: 866-810-4404
First Citizens Bank
Thank you for your interest in First Citizens Bank! We offer physician loans at 100% financing to $1,000,000, 95% to $1,250,000, as well as higher loan sizes with tiered down payments. Options include purchase and refinance of primary and secondary residence as well as construction to permanent financing. There is no PMI on our Medical Mortgage products and no limit on years in practice for established physicians. The minimum credit score for this program is 680. Treatment of student loan payments in calculating debt to income ratios can often be of concern to physicians; but we are very flexible on how we underwrite deferment and income based repayment. Loans may close up to 60 days prior to employment start date. This program is open to US citizens, permanent, and non-permanent residents.
Fixed rate and ARM options depending on loan amount and occupancy type. Primary residence – 100% financing up to $1,000,000; 95% up to $1,250,000; 90% up to $1,500,000; 80% up to $2,000,000; 75% to $3,000,000. Second home – 89.99% financing up to $1,250,000; 85% up to $1,500,000; 80% up to $2,000,000. Construction and Renovation – 89.99% financing up to $1,500,000; 85% up to $1,750,000. Minimum credit score – 680. Eligible borrowers include US Citizens, Permanent Resident Aliens, and Non-Permanent Resident Aliens
MD, DO, DDS, DMD, Resident, Fellows, PA, NP, CRNA, OD, DPM
Program is open to all qualifying doctors regardless of years in practice, flexible underwriting on student loans, down payment and reserves may be gifted, excellent client service, and retained loan servicing. I specialize in physician lending and have over 20 years of experience in mortgage loan originations. I also have prior experience in loan processing and underwriting. Our origination and fulfillment teams have a great partnership environment and I’m confident in our ability to deliver a smooth and stress free experience. Apply online here.
Phone: 864-630-0921
First National Bank of Pennsylvania ∉
0% down to $1.25 million with 720 score, 10.01% down to $1.5 million. 30 and 15 Fixed, 15/6, 10/6, 7/6, 5/6 ARM’s.
Purchase or Refinance.
Federal student loans are excluded from Underwriting for Interns, Residents, and Fellows.
Seller Assist permitted up to 4% at 90% LTV or higher, 6% on LTV below 90%.
No PMI.
Conventional and Jumbo Financing Available.
MD, DO, DDS, DMD, Resident, Fellows, DVM, CRNA
Construction/Permanent available with 15% down, no PMI.
80% Financing up to $1.5 million for Second/Vacation Homes
1099 Contracted employees acceptable (upon review)
Phone: 412-951-6793
Equal Housing Lender. Member FDIC. Rates and Programs can change anytime without notice.
Fulton Mortgage
With over 22 years of mortgage banking experience and having helped well over 1000 family’s originating nearly one billion dollars in residential loans. This experience will provide important assistance for someone who needs help during the home buying process.
Fulton Mortgage Company offers zero down up to $1,500,000, 5% down for loans from $1,500,001 to $2,000,000, 10% down Loans from $2,000,001 to $3,000,000.
No mortgage insurance with the loan and no restrictions for prepayments. Can close 90 days before the start of a new salary guaranteed job using that income to qualify. Gift funds from family member allowed for closing cost / prepaid expenses or down payment.
Must be US Citizen or have Valid Green Card. Student loans not counted in Debt-to-income ratio for Residents as long as 6 months or more remaining in residency. IBR payments used for doctors after residency training. Allow Doctors to be out of training up to 15 years. If relocating and taking new job time out of residency not applied. Must purchase with in one year of relocation if out of residency more than 15 years.
Terms: 15 year and 30 year fixed. 5/6 ARM , &/6 ARM, 10/6 ARM, 15/6 ARM
MD, DO, DDS, Resident, Fellows, DVM, DPM, Pharmacist
Low down payment for high loan amounts, No Reserves for 60 Day close, future employment contract 90 days from start date, family co-signer for Residents / Fellows.
Phone: 240-620-1414
Choosing a Conventional vs Doctor Mortgage When Buying a Home in Virginia
If you've decided to buy a home, and you are committed to living in Virginia for more than five years, you should give serious consideration to putting 20% down and getting a conventional mortgage. The improved monthly cash flow will allow you a great deal of financial freedom and the ability to invest (and even spend). You'll save hundreds of thousands on interest over the life of the loan, all guaranteed, unlike investing a potential down payment elsewhere.
If you're going to buy a home in Virginia AND you can't or don't want to put 20% down, then a doctor mortgage loan is a reasonable option and at least as good as the other non-20%-down options.
When comparing conventional vs. doctor mortgages, physician loans do have lots of advantages, but those primarily revolve around easier underwriting requirements. A doctor mortgage can help you qualify for a loan you otherwise couldn't get.
Conventional mortgages are more difficult to qualify for, but there’s a reason for that. If you can qualify for a conventional mortgage, especially if you can make a sufficient down payment to avoid paying PMI, you’ll usually get a lower interest rate and fees. That means a lower monthly payment and a lower overall cost for your loan.