Physician Construction Loans


Regional bank

  • 100% financing for loan amounts $0 - $750,000

  • 95% financing for loan amounts $750,001 - $1,000,000

  • 85% financing for loan amounts $1,000,000 - $1,500,000

  • 80% financing for loan amounts $1,500,001 - $2,000,000

  • Must be a licensed MD, DO, DDS, DPM, or DMD

  • Primary or Second Homes (second homes are slightly lower loan-to-values)

  • Future income allowed. Must start new job within 60 days of loan closing

  • No Private Mortgage Insurance Required (No PMI)

  • Eligible Products: 15 and 30 Year Fixed Rate, 3/1, 5/1, and 7/1 Adjustable Rate

  • One-Time Close (Close one-time with one set of fees as opposed to getting a construction loan and then having to refinance the construction loan to a permanent loan when construction is complete)

  • Permanent rate is locked prior to construction close. (This eliminates the uncertainty of rising interest rates)

  • Lending in FL, GA, AL, MS, SC, NC, and TN

 

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