Physician Lenders Available in Texas 


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


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. 


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


BBVA

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

  • 100% loan to $650K with no mortgage insurance (FICO 720)

  • 95% loan to $1.0M with no mortgage insurance (FICO 700)

  • 95% loan to $1.25M with no mortgage insurance (FICO 720)

  • 90% loan to $1.25M with no mortgage insurance (FICO 700)

  • 90% loan to $1.5M with no mortgage insurance (FICO 720)

  • 85% loan to $1.5M with no mortgage insurance. (FICO 700)

  • 80% loan to $1.75M with no mortgage insurance. (FICO 700)

  • 30, 20 and 15 year fixed loans as well as a 5 and 7 year ARM.

  • Can be used for Refinance / Cash out to 85%

  • MD, DO, DDS, DMD (other designations maybe acceptable)

  • Approved Condominiums are acceptable

  • One-Time Close Construction/Renovation loans/Lot Loan

    **20 Point FICO Exceptions Available if qualified**

*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. 


Opes Advisors
(A Division of Flagstar Bank)

DOCTOR PROGRAM FEATURES:

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

  • Low down payment on loans up to $1.5M

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

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

  • Purchase and rate/term refinance for primary residence.

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

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

  • Non-occupant co-borrowers

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

 

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