Physician Lenders Available in Virginia

KEYBANK MORTGAGE

• Fixed- and variable-rate options available

• Loan amounts up to $3.5 million

  
95% loan-to-value (LTV) to $1 million 
90% loan-to-value (LTV) to $1.5 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

Keybank Program 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.

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 and DPM accepted.
Non-Occupant Co-Borrowers Allowed

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.

BBVA

The program is available for practicing physicians, CPA's, Dentists and Attorneys with a 700+ FICO score who are purchasing a single family detached home.

95% loan to $1M with no mortgage insurance
90% loan to $1.25M with no mortgage insurance
85% loan to $1.5M with no mortgage insurance
80% loan to $1.75M obviously with no mortgage insurance.
30, 20 and 15 year fixed loans as well as a 5 and 7 year ARM.
MD, DO, DDS, DMD, Attorneys, And CPA's
Approved Condominiums are acceptable

*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.