Purchasing a home in Colorado presents a distinctive challenge for physicians, given their specific financial situations.
The extensive education and accumulated student loan debt often pose obstacles, making it hard for many doctors to qualify for a conventional mortgage. However, there's a solution in the form of physician mortgage loans, which offer favorable terms and minimal or no down payment requirements.
As of July 2023, the median home value in Colorado stands at approximately $543,143, according to Zillow.
To aid you in taking the next step towards homeownership, we have compiled a list of the finest physician home lenders catering to doctors in Colorado.
Best Doctor Mortgage Loans in Colorado
In Colorado, where the housing market can be competitive, it can be even more challenging for doctors to secure a mortgage that meets their unique financial needs.
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 Colorado.
Here are the best physician mortgage loans available to medical professionals in Colorado.
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
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.
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: 231-463-6700
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
BOK Financial Mortgage ↑
Whether you are just starting out or are established in your professional career, BOK Financial Advanced Medical Professional (AMP) loan program provides innovative, in-house home financial solutions for select medical professionals. We offer fixed and variable rate options on primary home purchases and refinances. We can offer an additional 0.125% discount on interest rate when you open a BOK Financial checking/savings account and make your mortgage payment from that account.
With our program, you can be eligible for:
0% Down Payment for loans up to $1,500,000
5% Down Payment for loans up to $1,750,000
10% Down Payment for loans up to $2,000,000
15% Down Payment for loans up to $2,250,000
- No Mortgage Insurance
- Discounted Rates
- Float-Down rate options
- If the subject property is new construction, you may be eligible to receive a lender concession towards your closing costs or buy down the rate
- Receive a .125% reduction on your rate by opening a BOKF checking/savings account & if an ACH payment draft is set up on the BOKF account for the mortgage payment
- When you become a BOK Financial client after closing, you will not pay lender fees (processing and underwriting) for future refinances or purchases
- There is no pre-payment penalty
- Recast options are available
- We will not sell your loan
- After closing, refinance once rates improve without a time limit or monetary penalty
- We will always service your loan
- A minimum FICO score of 700 is required
- Purchases or refinances (no cash out)
Please note: Our program is only applicable to primary residences, one-unit Single-Family Homes (detached and attached), Agency-eligible condos, and PUDs.
MD, DO, DDS, DMD, Resident, Fellows, CRNA, DNAP, DPM
Phone: 469-578-4550
BOK Financial® are trademarks of BOKF, NA. Member FDIC. Equal Housing Lender. ©2024 BOKF, NA. Programs, rates, terms and conditions are subject to change without notice. Other terms and conditions apply. All loans are subject to credit approval.
Academy Bank ∑
Academy Bank has established a top-tier Professional Loan Program. With extensive experience in the mortgage field and a specialized focus on serving Physicians, Dentists, and various other Professionals, Cole Griggs leads the way. Our commitment is to provide a seamless and expert experience for all buyers, guiding them from start to finish.
- 100% Financing up to $1 million, 97% Financing up to $1.25 million, 95% financing up to $1.5 million, 90% financing up to $2 million.
- No Private Mortgage Insurance.
- Financing available for Single Family Residences.
- Available to US Citizens, Permanent Residents, and Non-Permanent Residents.
- 720 Minimum Credit Score Required.
- Available to many other professions as listed below.
MD, DO, DDS, DMD, Resident, Fellows, NP, DVM, CPA, OD, Pharmacist, Attorney
- Student Loan Debt omitted in debt ratios if deferred at least 12 months.
- Ability to use income based repayment schedule if not deferred for 12 months.
- No restriction on time in the field.
- Gift Funds allowed for closing costs, down payment, and reserves.
- Retirement Accounts acceptable for reserves.
- 1099 Income without a 2 year history allowed with a guaranteed minimum.
Phone: 317-446-0904
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.
Bell Bank Mortgage
We are one of the largest privately held banks in the country. We pride ourselves by going above and beyond. From your first interaction with us we simplify a process that’s often complex. We understand that your time is precious and our technology allows us to work together as efficiently as possible. We are also very competitive in finding you the lowest rate possible with the lowest possible costs and fees. We understand there may be real estate agents that don’t understand the physician loan program and we like to educate them on the benefits of using this program.
Bell Bank offers home financing options geared specifically for physicians and dentists with term options of a 30 year fixed. In addition we also offer ARM options with a 5, 7 and 10 year ARM. Depending on your loan amount you would have 3 options.
Option #1
Loan amounts up to $1,000,000
Requires a 5% down payment
Requires 3 months of reserves
No mortgage insurance
Option #2
Loan amounts from $1,000,000 to $1,500,000
Requires a 10% down payment
Requires 6 months of reserves
No mortgage insurance
Option #3
Loan amounts from $1,500,000 to $2,000,000
Requires a 15% down payment
Requires 6 months of reserves
No mortgage insurance
Above options require:
Minimum credit score of 720
US Citizen
Must be an active medical doctor or resident or dentist
Fully executed employment contract with no contingencies is allowed for income verification. Application must start work within 90 days of loan closing.
MD, DO, DDS, Resident, Fellows
Low fixed and variable APRS. Streamlined approval and application process. Here at Bell Bank we also service all of our loans and do not sell or transfer the loans to another servicer. Student loan payments can be omitted from the debt structure if we can show the payments will be deferred for at least 12 months.
Phone: 651-248-1936
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: 872-313-5551
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.
PhysicianLoans
Read below to learn more about us. But if you are on a short time-line and are looking for information quickly, go to www.physicianloans.com, click on Get Started and take one minute to complete the short form.
PhysicianLoans originated as a family business in 1993 and after being a pioneer in the physician loan space, grew to become one of the most trusted brands for doctors. Our loan officers specialize in working with doctors and are true experts on financing for Doctors. Our team can assist you in 47 states
PhysicianLoans is an approved member benefit for the AMA, AOA and SOMA. We are a trusted name in home financing for doctors.
We are also more than just a place for rate shopping. If expertise, advice and customer service are important to you, always be sure to speak with a PhysicianLoans loan officer.
Visit www.physicianloans.com, click on GET STARTED, and take one minute to complete the short form. Or call us at 877-593-9313. We will be in touch quickly and get you what you need to successfully move forward.
Not a hard sales pitch. Just the advice and information you need.
No Money Down, No PMI, 50% DTI, Special Underwriting, ARMs and Fixed
MD, DO, DDS, DMD, DVM
Pioneers in this space, Best Customer Service, Experienced
Phone: 877-593-9313
U.S. Bank ††
Phone: Office- 916-498-3402 / Cell- 916-837-4531
Equal Housing Lender. Member FDIC.
UMB Bank
Phone: 636-207-2015
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: 586-904-5555
Physician Group at Neo Home Loans
We Close the Impossible Loans!
Move your family into your dream home quickly (we close in as little as 14 days), confidently, and without the stress that typically accompanies a new home purchase. Even if you are newly self-employed, 1099'd, or have been declined by another lender.
“NEO Home Loans was a game-changer for us. Despite the challenges common for 1099 professionals, they navigated the process seamlessly and made success achievable.” – Dr. Lance ⭐⭐⭐⭐⭐
At NEO Home Loans, we specialize in turning the impossible into possible for physicians and other medical professionals seeking home financing. We recognize your unique financial situations and are dedicated to simplifying the home loan process. Our tailored programs offer not just competitive rates and lower down payments but also waive mortgage insurance premiums, offering substantial long-term savings.
Understanding the diverse employment circumstances typical among medical professionals, such as self-employment or fluctuating income, our expert mortgage specialists are committed to securing flexible loan solutions that address your specific needs.
Request a FREE consultation at https://www.medicalprofessionalhomeloans.com/wcihomeloans/
100% financing options available with fixed or adjustable terms for clients with 720 credit score or better with minimal down payment for medical professionals with credit scores down to 680. Can now help 1099 independent contractors with no previous experience as self-employed, 100% loan to value to $1M, 95% loan to value to $1.25M and 90% loan to value to $2M loan amount. 50% max DTI. Can close anytime prior to a new job start date. Flexible with student loan debt.
PROGRAMS FOR MD, DO, DDS, DMD, DPM, DVM
100% financing up to $1M for physician home loans
95% financing up to $1.25M for doctor mortgages
1099 guaranteed income with less than 2 year history
Utilize gift funds for your down payment
Close before your employment start date
Student loan debt solutions available
Zero mortgage insurance for added savings
PROGRAMS FOR CRNA, PA, NP, RN, CNS, DPT, & other Medical Professionals
97% financing up to $850,000
95% financing up to $1M
90% financing up to $1.5M
Save thousands with reduced or no mortgage insurance
1099 guaranteed income with less than 2 year history
Credit scores as low as 620
MD, DO, DDS, DMD, Resident, Fellows, PA, NP, DVM, RN, CRNA, DPM
The biggest challenge in the mortgage industry right now is speed to close, with housing inventory at an all-time low, we’ve focused on helping our clients close their loans in as little as 17 days (depending on the program and down payment amount).
Phone: 855-260-9932
Laurel Road ~
- Medical Professional loans up to $3.5 million with no PMI1.
- Conventional Financing up to 97% LTV with max loan amount of $766,550
- Our signature Silver Key Loans up to 85% LTV with no PMI for loan amounts greater than $766,550 up to $2.5M
- Relationship discounts of .25%2
- Key Community Loans up to 100% Financing NO PMI†
Get Prequalified or Apply Today! Check your rates!
†geographic restrictions apply
MD, DO, DDS, DMD, Resident, Fellows, DPM
Phone: 216-427-0532
NOTICE: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. All
home lending products, including mortgage, home equity loans and home equity lines of credit, are
subject to credit and collateral approval. Not all home lending products are available in all states. Hazard
insurance and, if applicable, flood insurance are required on collateral property. Actual rates, fees, and
terms are based on those offered as of the date of application and are subject to change without notice.
Mortgage and Home Equity Lending products offered by KeyBank are not FDIC insured or guaranteed.
1) Only available to actively practicing interns, residents, fellows, doctors, dentists, clinical professors,
researchers, or managing physicians with a current license and a degree of Doctor of Medicine (MD),
Doctor of Osteopathic Medicine (DO), Doctor of Podiatric Medicine (DPM), Doctor of Dental Surgery
(DDS), or Doctor of Dental Medicine (DMD). Employment Start Date up to 90 days from Note Date.
Additional conditions and restrictions apply.
2) To receive relationship benefits on a new KeyBank mortgage loan, which provides a 0.25% interest
rate reduction, you must have owned a Relationship Account at any time during the mortgage loan application process, but no later than seven (7) business days prior to the closing of the mortgage loan.
This Interest rate reduction is available on new KeyBank mortgage loan applications only.
As an alternative to the relationship benefit, you may obtain a 0.25% interest rate reduction if you
complete and submit, no later than seven (7) business days prior to the closing of the mortgage loan,
the Monthly Automatic Payment form to have your recurring mortgage payment for your KeyBank
mortgage loan automatically deducted from a Laurel Road branded checking account or an “Eligible
KeyBank Consumer Checking Account”. Refer to the Monthly Automatic Payment form for more details.
For fixed-rate mortgages, the 0.25% interest rate reduction will be reflected in the interest rate on the
Promissory Note. For adjustable-rate mortgages (“ARMs”), the 0.25% interest rate reduction will apply
to the initial fixed interest rate period and will be reflected in the maximum amount the interest rate
can increase of the term of the loan, subject to the minimum interest rate that may be charged per the
terms of the Promissory Note or Agreement.
“Relationship Account” means (A) an open Eligible KeyBank Consumer Checking Account with five (5) or
more Qualifying Transactions posted to a single Eligible KeyBank Consumer Checking Account in a
calendar month, which may not be aggregated across other accounts you own, OR (B) an open Key
Private Bank Checking or Key Private Bank Personal Checking account.
An “Eligible KeyBank Consumer Checking Account” means: any KeyBank consumer checking account
designated as a personal checking account by KeyBank, including KeyBank’s Hassle-Free checking
account, but excluding a health savings account and Laurel Road branded deposit accounts.
“Qualifying Transactions” include, but are not limited to, point of sale transactions, bill payment(s), ATM
transactions, check, cash or direct deposits, and electronic funds transfers. Qualifying Transactions
exclude adjustments, advances, reversals, refunds, account to account transfers, person-to-person
transfers, interest, service charges, and service fees. Qualifying Transactions must be completed at least
three (3) business days prior to application to be eligible for inclusion in determining whether you met
the “Relationship Account” portion of the “Bank with Key” criteria.
The 0.25% interest rate reduction may not be combined with certain other discounts or promotions and
may not be available for all home lending products. Other terms, conditions, and/or limitations may
apply. Contact KeyBank Home Lending for more details.
Interest rate discount may not be available for all products. May be combinable with other offers. Ask us
for details.
† In some states, a conventional loan option with Private Mortgage Insurance (PMI) may offer better
priced loan terms than a Physician Mortgage for down payments less than 20%. Financing options
presented upon checking rates offer lowest rate and payment options available based on information
provided and may not be a Physician Mortgage.
Laurel Road is a brand of KeyBank National Association. All products offered by KeyBank N.A. Member
FDIC. NMLS # 399797. Equal Housing Lender. © 2024 KeyCorp® All Rights Reserved. Laurel Road is a
federally registered service mark of KeyCorp. 3 Corporate Drive. 4th floor Shelton, CT 06484, USA.
Green State Mortgage ∅
Green State Mortgage is a boutique lender with access to the most competitive rates and programs. Allow us to tailor a lending program that meets your needs!
0% down up to $1,000,000, 5% down from $1,000,000 to $1,750,000, 10% down from $1.750,000 to $2,500,000. 1-2 Unit Properties, Condos, Townhouses, PUDs, Modular Homes. No PMI. No Prepayment Penalty. Non-Warrantable Condos to 90%. Fixed and adjustable rates (7, 10, and 15-Year ARM) available. No time restrictions on when a client starts their new employment vs. the closing date if they have enough reserves for W2 positions. 60 days prior to start date for 1099 positions.
MD, DO, DDS, DMD, Resident, Fellows, PA, NP, DVM, OD, DPM, Pharmacist
No time restrictions on when a client starts their new employment vs. the closing date if they have enough reserves. Most other lenders limit the purchase date to 60-90 days before starting a new position. We also allow business assets and gift funds for the down payment, closing costs and reserves. Debt-to-income ratios up to 50%. No 2-year history is required for physicians hired as a contractor or 1099 employee. Available nationwide (except CA), 2-unit properties eligible, flexibility for newly self employed.
Phone: 630-788-4048
Green State Mortgage – A division of Green State Credit Union
First Community Mortgage >
First Community Mortgage offers a product menu second to none with a 100% customer service centric approach to anything and everything that we do. Our physician loan offering in particular offers very competitive terms and includes 100% financing up to $1M, 5% down up to $1.75M, and 10% down up to $2.5M, ALL with no mortgage insurance! Keep in mind that we are going to tailor our loan offerings for each individual client based on what fits their needs the best. This will include very competitively priced jumbo loan offerings that can accommodate larger loan amounts, creative financing approaches available as well for those with credit challenges, income challenges, etc.
Our physician loan offering is going to come with very competitive terms, which include the following:
100% financing up to $1M
5% down up to $1.75M
10% down up to $2.5M
ALL with no mortgage insurance!
Gift funds are acceptable
These great terms are available with a 30-year fixed loan, a 7-year ARM, or a 10-year ARM. These ARMs will be on 30-year amortizations with a fixed rate period of either 7 or 10 years. Financing is available for primary residences for 1-to-2-unit residences, condos, PUD’s, townhomes, and approved modular homes (pre-fabricated homes built to state and local building codes).
Our physician loan program is available for eligible physicians beginning residency after loan closing, with the following required documentation:
- A fully executed/signed employment contract or offer letter in which all contingencies have been met
- Verification that our borrower will have sufficient income or cash reserves to support the mortgage payment and any other obligations between the first payment due date and the start of employment.
MD, DO, DDS, DVM, DPM
To recap our physician loan offering comes with the following strengths:
- 100% financing up to $1M
- 5% down up to $1.75M
- 10% down up to $2.5M
- ALL with no mortgage insurance!
- Gift funds are acceptable
- 30 year fixed, 7 year and 10 year ARMs all available
- Very competitive interest rate offerings
First Community Mortgage also offers an extensive list of products that even outside of our physician loan program will allow us to customize and tailor the best possible loan offerings for each and every client that we work with. We are committed 100% to best-in-class customer service and will make sure each and every client is afforded the opportunity to understand all best case options that are available to them.
Phone: 423-802-4242
Loan approval and terms are dependent upon borrower’s credit, documented ability to repay, acceptability of collateral property, and underwriting criteria. This loan product is offered by First Community Mortgage and administered through a broker relationship. For licensing information, go to: www.nmlsconsumeraccess.org.
262 Robert Rose Drive, Murfreesboro, TN 37129
BMO Bank
BMO Bank has developed a class leading Physician & Dentist Mortgage Loan Program. The below Loan Officers have decades of experience not only in the mortgage industry but also working specifically with Physicians and Dentists. We are dedicated to ensuring a qualify experience to all buyers, from start to finish.
Loan Officer Info:
Please contact the listed Loan Officer based on the state in which you are purchasing.
100% financing to $1MM, 95% to $1.5MM, 89.99% to $2MM, less than 5 years practicing for less than 5% down payment, less than 10 year practicing for less than 10.01% down payment(not including residency or fellowship). Primary Residence SFR, Condo, 2 Unit properties eligible. Can close up to 89 days prior to employment start date with signed contract or signed offer letter. 30 yr fixed rate options along with shorter term fixed and ARM’s. No PMI/MI. Rate/Term Refi or Purchase only. Gift funds allowed for down payment, closing costs, & reserves. We are now able to use 1099 contract income for doctors who have a guaranteed minimum salary in their contract, even without a 2 year history of income established as a 1099 employee. Must be actively seeing patients. For properties located in the following states, AL, AK, AR, CT, DE, GA, HI, KY, LA, ME, MD, MA, MI, MS, MT, NC, NH, NJ, OH, PA, RI, SC, TN, VA, VT, WV, & DC borrower must have a minimum of a 6 month established relationship with BMO prior to the application date.
MD, DO, DDS, DMD, Resident, Fellows
BMO Bank developed and began offering a physician loan program in 2015. The program has been expanding and growing for the past 8 years. All of the Loan Officers listed specialize in the physician loan product. These 3 loan officers have a wealth of knowledge and experience to handle any scenario imaginable. We can quickly determine what options are available within BMO’s loan options to structure a loan to fit your needs. We have dedicated processors and underwriters to ensure a smooth lending process and quick closing. We look forward to earning your business!
Phone: 920-831-7721
How Do Colorado Physician Mortgages Work?
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 Colorado and can help make their dream of homeownership a reality.
Choosing a Conventional vs Doctor Mortgage When Buying a Home in Colorado
Once you've made the decision to purchase a home and have the intention of residing in Colorado for an extended period, giving serious thought to putting down 20% and opting for a conventional mortgage is highly advisable. By doing so, you'll unlock enhanced monthly cash flow, granting you significant financial flexibility to invest and even indulge in expenses.
If you're going to buy a home in Colorado 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.