Home Mortgage Loans for Physicians
Physician Home Loans
Home buying and refinance loans for doctors and physicians.
Please note: We do NOT offer 100% financing.
The highest LTV is the Conventional 97 loan or FHA 96.5% loan.
If you are a physician you may qualify for one of the best home loans available on the market today. This includes home loan programs for physicians, which include low money down for home purchases (even if you are a first time home buyer). If you are a dentist, you can learn about similar mortgage programs for dentists. Additionally, your interest rate may be lower will be lower than a typical mortgage (someone with similar qualifying factors as you, but in a different profession would not receive the same preferential rates and terms that we will provide you as a physician).
Physician First Time Home Buyer Loan Programs:
If you are a first time home buyer, we have programs that will finance your home purchase up to 96.5% – that means you would only have to pay 3.5% as your down payment. So if you intend to purchase a home for $400,000 this would require a $14,000 down payment. This program is insured through the FHA. We also have several jumbo loan programs for physicians looking to purchase a high end home with a large mortgage balance.
Jumbo Loans for Physicians
A popular choice amongst physicians, jumbo mortgages allow for much higher loan amounts to be received. Any loan amount that exceeds the conforming loan limits for a specific county are considered to be a jumbo loan. The conforming loan limits are county-specific and range from $484,350-726,525. If you are looking to purchase a more expensive home and do not wish to place a substantial down payment in order to reduce the loan size below the conforming limits for your prospective homes location, you should seek jumbo financing. We issue loans to qualifying physicians up to $2,000,000 and offer competitive rates and terms.
FHA Loan Programs for Physicians:
FHA is a great home loan option for many reasons, most notably, the ease by which loans are processed and funded. FHA insured loans require a 3.5% down payment for all home purchases (first time, second home, investment properties). FHA offers great refinancing programs. The FHA streamline refinance could possibly be the most easy and fast refinances of any kind. An FHA streamline does not require an appraisal (your previous appraisal will be used – regardless if your property has maintained it’s value). Additionally, there is very little documentation required in order to process and underwrite the new FHA home loan.
Mortgages Offered for Physicians in the Following States:
Alabama, Arkansas, California, Colorado, Florida, Georgia, Kansas, Louisiana, Iowa, Illinois, Indiana, Maryland, Minnesota, Mississippi, New Jersey, New Hampshire, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington State, Wisconsin, and Wyoming.
Below are some of the physicians that may qualify for our special loan programs:
Primary care physicians (family medicine and internal medicine), surgeons of all kinds, cardiologists, hospitalist, dermatologists, endocrinologist, gastroenterologist, infectious disease specialists, nephrologist, ophthalmologist, obstetrician/gynecologist (OB/Gyn), otolaryngologist, pediatrician, pulmonologist, psychiatrist, and many more. Please contact us today and speak with a home loan specialist who will answer all of your questions and explain the different special mortgage programs that we provide physicians with. Please note that we also offer home loans for physician assistants. If you would like to learn more about our home loan programs or to prequalify or apply please contact us today.