Doctor Program Attributes:
All physicians qualify with zero down payment up to $1,000,000 (700+).
A 5% down payment is available for properties up to $1,000,000 (680+).
Five percent down payment for properties up to $1,500,000 (700+ credit score)
Ten percent down payment up to two million dollars (700+)
Refinancing the same loan for rate and term at the purchase amount
Debt-to-income ratio up to 50%
Two months’ reserve requirement for loan amounts less than $1,000,000
Gift funds permitted for reserves for amounts under $1,000,000
Six months’ reserves required for loan amounts of $1,000,000 or greater
Gift funds may be applied toward closing costs and prepaid expenses.
May have less than 24 months of self-employed income if practice was acquired.
Asset dissipation underwriting permitted
Can utilize unencumbered assets to demonstrate additional income or qualification
If utilizing resident or colleague income, student loans may be disregarded.
Is it possible to project future income if a physician secures new employment within 90 days of the closing date?
Exceptions may be granted if the extension is only marginally longer.
Authorize J1 and H1B visas contingent upon evidence of ongoing employment.
Lending is available in all 50 states for Private Banking clients (all other terms remain unchanged: FL, IL, IN, KY, MI, OH, TN, WV, GA, NC, SC). Over $2,000,000 in assets maintained with the bank for Private Banking
No initial payment required for condominiums
Relationship rate discounts commencing at $25,000 in assets with the bank
For additional information from our National, Regional, and Local Physician Lenders, please complete the form below. We will be in touch with you momentarily to discuss the most suitable doctor program in your State.