Physician Lenders Available in Kentucky  


KEYBANK MORTGAGE

  • -0- down payment up to $750,000 (700 min credit score)

  • 5% down payment up to $1,000,000 (700)

  • 10% down payment up to $1,500,000 (680)

  • 15% down payment up to $2,500,000 (700)

  • 25% down payment up to $3,500,000 (700)

  • Min credit score can be lowered if compensating factors are met (case by case)

  • Products available (Purchase and Rate and Term Refinance):

  • 30-year fixed

  • 25-year fixed

  • 20-year fixed

  • 15-year fixed

  • 10/1 ARM

  • 7/1 ARM

  • 5/1 ARM

  • Single Family, PUD, Townhome, and Warrantable Condos are eligible

  • Close on loan up to 90-days prior to employment start date

  • Eligible Medical Doctors: MD, DO, DPM

  • Eligible Dentists: DDS, DMD

  • Eligible Veterinarian: DVM, VDM

  • Debt Ratio Limit: 45% (Up to 50% with compensating factors)

  • Student Loans: Count IBR payment or 1% of balance

  • Down Payment CAN be a gift

  • Reserves CAN be a gift: 2-6 months depending on situation and timing


Fifth Third Bank

NEW Physician Loan Program- Graduating Med Student/ Resident/ Fellow/ Attending Physician for less than 1 year (Self-employed is allowed if 2+ years)

  • 0% down payment up to $750,000

  • 5% down payment required up to $1MM

  • 700+ credit score required for 0% Down Payment up to $500,000, 720 needed if up to $750,000 (if 680-699, 5% down payment is required)

ESTABLISHED Physician Program- Attending 1+ years/ Self Employed 2+ years AND Dentists

  • 0% down payment up to $750,000

  • 5% down payment required if greater than $750K up to $1MM

  • 15% down payment required if greater than $1MM up to $1.5MM

  • No limit of years after training

  • Refinance Loans available

  • 720 Credit score required

  • DENTISTS are eligible

DOCTOR and DENTIST PROGRAM FEATURES:

  • MD, DO, DPM, DDS or designations only

  • Fixed Rate (30, 20, 15 year terms) and Adjustable Rate (10, 7, 5 year terms) available

  • No Private Mortgage Insurance required

  • Allowed Property types: 1-unit, Single Family, PUD, Freddie/Fannie approved condos. Must occupy as Primary Residence

  • Construction END LOANS are available

  • Non-Permanent Resident Alien with a H1 Work VISA are acceptable (must demonstrate continued employment per guidelines)

  • Program allows physician to have a CURRENT doctor loan

  • There is no time limit on the amount of years after Residency/Fellowship

*Please complete the form to connect with the lender of choice. 


CHEMICAL BANK

STATES FINANCING IS OFFERED IN (WRITE AS MANY AS YOU KNOW): 

Ohio, Indiana, Illinois, Kentucky, Pennsylvania, West Virginia, Michigan

PLEASE SHARE AS MANY GUIDELINES AS YOU ARE AWARE OF: 

  • 100% financing up to $1m purchase or refinance

  • 95% financing up to $1.5m purchase or refinance

  • No Private Mortgage Insurance required (PMI)

  • Construction to perm financing 100% up to $1m, 95% up to $1.5m

  • 1-2 units for primary residence

  • 1 unit for 2nd homes

  • 680 minimum credit score

  • Condos warrantable and non-warrantable

  • 15 year fixed loans as well as a 5, 7 & 10 year ARM's

  • MD, DO, DDS, DMD, DPM, DC, or DVM.


FLAGSTAR BANK

The program is available for practicing physicians with a 700+ FICO score who are purchasing a single family detached home.

  • 100% loan to $850,000 with no mortgage insurance (720 FICO)

  • Low down payment on loans up to $1.5M (710 FICO)

  • Deferred medical student debt may not affect your qualifying loan amount.

  • 80% loan to $1.75M obviously with no mortgage insurance.

  • Purchase and rate/term refinance for primary residence.

  • 5/1 and 7/1 Adjustable Rate Mortgages (ARMs)

  • MD, DDS, DMD, DO, DPM and Veterinarians accepted.

  • Non-Occupant Co-Borrowers Allowed


Regions Bank

DOCTOR PROGRAM FEATURES:

  • Offers mortgage loans to medical physicians, including Residents, Fellows, Doctor of Dental Medicine (DMD/DDS) or Doctor of Osteopathy (DO).

  • Doctors who have been self-employed for a minimum of 3 years are eligible. For self-employed physicians, income will be averaged based upon the most recent two years business and personal tax returns.

  • 1099 income with contract is allowed – must have minimum monthly income guarantee.

  • Mortgages are available for purchases and refinances.

  • They offer fixed rate and ARMS. Available ARMS are 5, 7 and 10 years fixed. Loan terms are 30 years for ARMS.

  • Loan terms are 15 and 30 year for fixed rate mortgages.

  • No private mortgage insurance (PMI).

  • 100% financing is available.

  • For loan amounts less than $750,000, 100% financing is available. For loan amounts up to $1,000,000, 95% financing is available.

  • Student loans are not included in the debt to income ratio with sufficient documentation supporting that the student loans are currently in deferment/forbearance.

  • This loan is for primary residences only, single-family residences, and townhomes.

  • Minimum credit score is 720 for loan amounts above $453,100.

  • Minimum credit score is 700 for loan amounts below at or below $453,100.

  • Residents entering medical profession are required to have a copy of the executed written agreement as evidence of employment or future employment.

*Please complete the form to connect with the lender of choice. 


Citizens Bank

DOCTOR PROGRAM FEATURES:

  • Up to 95% financing with no mortgage insurance for loan amounts up to $850,000

  • Up to 89% financing with no mortgage insurance for loan amounts up to $1,000,000

  • Up to 85% financing with no mortgage insurance for loan amounts up to $1,500,000

  • Student loan debt deferred or on reduced payment plan for at least 12 Months excluded from debt-to-income ratio

  • Construction-to-permanent financing eligibility – maximum 85% financing

  • Primary residence only

  • PUDs, Condos and Co-Ops

  • Close on your home up to 60 days prior to new employment start date (with signed contract)

  • Eligible professions include Residents, MD, DDS, DMD, DPM and DO

  • Eligible Products: 10, 15, 20, 25 and 30 Year Fixed Rates. 3/1, 5/1, 7/1 and 10/1 ARM

700 Minimum Credit Score – Doctor Loan only

LTV < 90% maximum DTI is 43%

LTV >/= 90% maximum DTI is 40%

*Please complete the form to connect with the lender of choice. 


National Lender

(The name of this bank has been omitted to comply with their trademark policies)

DOCTOR LOAN PROGRAM FEATURES:

  • 95% Financing up to $1,000,000 (some restrictions apply)

  • 90% Financing up to $1,500,000 (some restrictions apply)

  • Maximum Loan Amount ** $1,500,000

  • Private Mortgage Insurance Not Required (No PMI)

  • Close on your home up to 60 days prior to new employment start date (with signed contract)

  • Eligible professions include Residents, MD, DDS, DMD,OD, DPM and DO

  • Student loans deferred for at least 12 months after closing not included in debt ratios.

  • Eligible Property Types One-unit Single Family, Warrantable Condos and PUDs

  • Eligible Products: 15 and 30 Year Fixed Rates. 5/1, 7/1 and 10/1 ARM (Fully Amortizing)

  • 720 credit score required

*Please complete the form to connect with the lender of choice. 

 

Fill out the form below to connect with us

Name *
Name
Cell Phone *
Cell Phone