Physician Lenders Available in Indiana
KEYBANK MORTGAGE
• Fixed- and variable-rate options available
• Loan amounts up to $3.5 million
• No Private Mortgage Insurance (PMI) required
• Personalized service
• Loan options available for purchase, as well as rate/term and cash-out refinances
• Eligible property types include owner-occupied primary residences and second homes
• Available for 1-unit single-family homes, condos or planned unit developments
* Geographic restrictions may apply. Ask us for details.
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.
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.