States: FL, IL, IN, KY, MD, MI, NC, OH, PA, SC, TN, VA
Terms:
First Federal of Lakewood Physician Loan program allows for 100% financing on loan amounts up to $1,000,000, 95% financing on loan amounts up to 1.25MM and 90% financing on loan amounts up to 1.5MM First Federal Lakewood Physician Loan program allows for 100% on purchases up to $1,000,000. This program has no monthly mortgage insurance (PMI).
Professions:
M.D., D.D.S., D.M.D, D.O., DVM/Veterinarian, DPM/Podiatrist and O.D./Ophthalmologist.
Strengths:
First Federal Lakewood’s physician loan program is very competitive with other lenders in this space when comparing interest rates and fees. There are a couple unique pieces of our loan program that other lenders do not offer.
- First Federal Lakewood can close a physician loan based on an employment contract if the start date is within 12 months. Many of our competitors will only use new employment start dates within 30-60 days.
- Construction draw loans available in 5 states (KY, IN, MI, OH, PA)
- Long term locks up to 12 months available
Eric Veronica (NMLS #83197) can be reached at 419- 318-8985 or [email protected]