Physician Lenders Available in Wisconsin
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.
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
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.
