Physician Lenders Available in Texas
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.
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.
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.