The Federal Savings Bank

Our home loan for Medical Professionals or Physicians was designed to help those in the medical profession achieve their dreams of homeownership. At The Federal Savings Bank, 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!

Loan Officers

Upen Patel (NMLS #1374243)
STATES:  AK, CA, CO, FL, HI, ID, IL, LA, MD, MA, MS, NJ, NY, PA, TN, TX, UT, VA, WA, WY, DC
EMAIL:  [email protected]
PHONE:  571-331-5161

Terms:

0% down up to $1 MM loan amount
5% down up to $1.5 MM loan amount
10% down up to $2 MM loan amount

Min FICO – 660 (lower FICO will not affect your rate)

Owner occupied Primary Residence
1-4 unit residential property
Rental income can be used to meet DTI requirement

No MI
No Reserve Requirement
No Prepayment Penalty

ARM loan options
Can close up to 90 days prior to start of new job
Student loan payments deferred for 12+ months are not included in DTI
No limit on the number of years out of residency
Non-occupant co-borrower allowed
Gift funds allowed from family members
Up to 6% seller credit allowed
US Citizens, Permanent Resident Aliens, Work Visa

Professions:

MD, DO, DDS, DMD, Resident, Fellows, PA, NP, DVM, CRNA, DNAP, OD, DPM, APRN, CNM, Pharmacist, Psychologist

Strengths:

Min FICO – 660 (lower FICO will not affect your rate) – Can ask for exception for lower

Serving medical and healthcare professionals nationwide
Wide coverage of professionals – We value the contribution of healthcare professionals and want to support as many as possible to achieve the dream of homeownership
Qualify with few funds – low down payment & NO Reserves
Lower rate compared to a traditional mortgage
Program is open to all qualifying professionals regardless of years in practice

Loan available for Cash-out Refi as well (with lower LTV)

Disclaimer:

Subject to credit approval. Terms and conditions may apply. Property insurance is required for all loans secured by property.
The Federal Savings Bank | Co. NMLS# 411500 | All Rights Reserved | thefederalsavingsbank.com
Member FDIC | Equal Housing Lender