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Physician Bank Blog

Physician Loan – 42 Answers for Physicians

The purpose of this article is to describe what a physician loan is and how it is used. It will also answer some of the top questions people have regarding physician loans. In addition, we will investigate investment property issues, ...

Physician Bank / physician bank loan, physician loan, Physician Loans, physician loans, physician mortgage loan, physicians loan

How to Monitor and Protect Credit Score During the Homebuying Process

As a physician, you know that buying a home is a major decision, and it’s important to have a good credit score when going through the process. There are many factors involved in monitoring your credit score during this time ...

Physician Bank / physician loan, Physician Loans, physician loans, protect credit score

Costs of Home Ownership

When you're buying a home, there are several upfront and ongoing costs of home ownership outside of your mortgage payment that you’ll want to consider ahead of time, so you can budget accordingly and remain stress-free. Beyond the Purchase Price: ...

Physician Bank / costs of home ownership, physician loan, Physician Loans, physician loans

Navigating the Home Buying Process: Where to Begin

First step of your home-buying journey: Find your Mortgage Loan Originator Are you a physician looking to purchase a home? That's great news! Fortunately, there are mortgage loan options specifically designed for physicians – often referred to as a physician ...

Physician Bank / home buying process, Physician Loans, physician loans

6 Tips for Physicians to Save Money for the Vacation they Deserve!

As a physician, you work hard to provide quality healthcare to your patients. With that said, it's also essential for your health to take time off to recharge and rejuvenate! A vacation can be a perfect way to refresh, but ...

Physician Bank / Physician Loans, saving for a vacation, saving money

Top 7 Expenses for Young Physicians

We dug into Medscape's "Young Physician Compensation Report 2022" to check out where young physicians tend to spend their money. Medscape surveyed 2,000 physicians under age 40. According to the report, compensation is rising for young physicians, yet there are ...

Physician Bank / physician expenses, Physician Loans

Budgeting During Your Residency

Going into residency can mean moving across the country, a lot of changes in your expenses and financial habits, and trying to balance residency and settling into a new home. Setting up a budget during this time can help bring ...

Physician Bank / budgeting, Physician Loans, physician loans, residency

Buy or Rent? What Every Medical Resident Should Know

Are you a resident and trying to decide if you should buy or rent a place? It’s an important decision to make, as it can have a huge impact on your budget and lifestyle. In this article, we’ll discuss the ...

Physician Bank / physician loan, Physician Loans, physician loans

16 Benefits of a Physician Loan

Physicians can have unique financial situations, and physician loans from Physician Bank can be designed specifically with them in mind. Some of the benefits include the ability to finance up to 100% of the purchase price of a home, no ...

Physician Bank / physician loan, Physician Loans, physician loans, physicians loan

Debt-to-Income Ratio and Tips on How to Improve it

When you're applying for a physician home loan, Physician Bank is going to want to know that you can afford the monthly payments. One way they do this is by looking at your debt-to-income ratio. This number tells us how ...

Physician Bank / Physician Loans

What Is PMI and How Does It Work?

Are you feeling confused by all the acronyms that come with mortgages? Let us break down one of the most misunderstood aspects of a mortgage: private mortgage insurance (PMI). This is different from your homeowner’s insurance which covers your property ...

Physician Bank / Physician Loans, physician loans, PMI, Private Mortgage Insurance

Should I Get A Physician Loan?

With high interest rates and home prices, many are questioning whether now is the right time to buy a home. Many individuals and families are getting priced out of the market. Doctors, dentists, vets, pharmacists, and other qualified physicians have ...

Physician Bank / physician loan, Physician Loans, physician loans, physician mortgage loan

Physician Home Loan - Steps to the Buying Process

Physician Home Loan – Steps of the Home-Buying Process

You’ve heard about physician loans and now you’ve decided to get one. Now what? We’ll walk you through every step of the buying process so you know what to expect and you can feel less anxious and more excited about ...

Physician Bank / physician home loan, Physician Loans, physician loans

The Physician Mortgage Loan

If you are a physician looking for a new home, you may be wondering about a physician mortgage loan. What are they and what can I do with them? A physician mortgage loan from Physician Bank is a specific type ...

Physician Bank / physician loan, Physician Loans, physician mortgage loan

12 Steps to a Good Credit Score

If you're thinking about applying for a physician loan, it's important to know what Physician Bank is looking for. A high credit score and a good credit history are two of the most important factors that we consider when approving ...

Physician Bank / credit score, physician loan, Physician Loans

What You Need to Know About Physician Loans

If you are a licensed physician, doctor, dentist, pharmacist, in residency or other qualifying medical licensee, you may be eligible for a Physician Loan. Physician loans are a type of loan specifically designed for doctors and residents to help them ...

Physician Bank / physician loan, Physician Loans, physician loans

What Does Financial Self Care Look Like?

Think self-care is just candles and bubble baths? With financial concerns being one of the most common causes of stress, don’t forget to make time for financial self care. It may seem like a trend, but it can make a ...

Physician Bank / financial self care, Physician Loans

Are Traditional Savings Accounts Dead?

There's no denying that traditional savings accounts are no longer as popular as they once were. Many people are now questioning whether saving money in a savings account is the best option with all the choices out there. Our customers ...

Physician Bank / jumbo deposit, Physician eCentive, Physician Loans, save money, saving money

Physician Bank – 6 Things to Know About Us

We launched Physician Bank in February 2022. You may be wondering how it's going. The short answer is very well! But wait, you are probably wondering who we are. To properly introduce you to Physician Bank, here are 6 things we ...

Physician Bank / physician bank, physician bank loan, Physician Loans

Physician Bank

140 North Phillips Avenue #101A, Sioux Falls

Kazvin Marfatia ★★★★★ 4 months ago

My fiancé and I are so grateful we got to work with Julie! As first time home buyers, the home buying process can be daunting but we honestly could not have had a better experience. Julie is available night and day to address any of our … More concerns and her responses are always very prompt. We valued how organized she is and would recommend her expertise to anyone. Thank you Julie!!! Looking forward to working with you again in the future :)

Kirbi Sullivan ★★★★★ 6 months ago

Matt was the best! Wonderful to work with and made the process so easy. Very responsive and easy to get ahold of 24/7. Great option for first time home buyers and young physicians in residency. My husband looked at several options for mortgages … More and the Physician Bank team was by far the best. Juanita was also wonderful and very helpful! Will definitely be recommending to other physicians looking to buy.

Cristina Toledo-Cornell ★★★★★ 7 months ago

I worked with Teresa DeWolf anf her awesome team and I could not be happier with their professionalism, engagement, efficiency and overral stellar costumer service. I have now referred her and her team at Physicians bank to other colleagues … More and family. She gave ne a great rate and I am a seasoned Buyer (4th home). The process is seameless and the app super user friendly. I could not have asked for a more seameless experience on getting a loan! Thank you!! Picture of my new home bellow!

Fernando Zayas Bazan ★★★★★ 5 months ago

Physician Bank helped me secure a home loan at a great interest rate. We just closed June 12th 2023! Thank you Ryan and Physician Bank for making this sooo smooth!

Trinh To ★★★★★ 2 months ago

We had the utmost pleasure to work with Julie Velline. She is amazing!!! She helped us close the house in 4 days!! She honestly did God's work and made our dream come true. We were with another lender for 2.5 weeks and were not satisfied … More with their service. The previous lender clearly did not specialized in physician loans like we thought they do. Otherwise, they wouldn't have made the process more complicated than what it really is. It was the constant back and forth and none of our goals were being met. You would think there'll be minimal issues when you have 1 pharmacist and 1 medical physician in the household with 2 incomes. We had major headaches with the previous lender before we finally gave up on them and decided to be brave to reach out to a new lender during the buying process!! I called 1-2 other lenders and they all gave me the realistic answer of "No, we need at least 3-4 weeks to gather all the paperwork and process the loan". It was understandable considering we were with another lender for literally 2.5 weeks yet no loan was officially closed. I finally reached out to Julie for one final effort… and it was on Labor Day, 9/4! I did not anticipate any response due to the holiday and clearly all the banks would be closed. However, Julie responded!! She said they were closed for the holiday but she was willing to look over our documentation. I asked her if she can realistically help us close the loan on our closing date & she said "I don't see why not??". I was nearly in shock. My boyfriend and I sent over all the required documents. Julie and her processor literally worked around the clock for 2-3 days straight, I tell you! She was super responsive to her emails and worked like no other. She made sure to take care of us and to meet our goal of closing the house on 9/13/23. Honestly wow. Everyone we encountered during this buying process was nice and enjoyable to work with. They clearly know what they're doing and clearly have worked with other physicians and healthcare professionals before. They know how doctors live their life and their typical situations. They didn't have much questions regarding our background and finances. A+++ for Physician Bank and Julie! We are truly thankful for you.

Tony Captain ★★★★★ 5 months ago

Matt velline was an amazing mortgage loan originator. This was undoubtedly the most flawless and efficient process I have ever been involved in to obtain home mortgage loan. Rather the Spanish inquisition, I encountered a consummate professional … More who embodied sincerety and kindness. He was informative every step along the way and made the experience pleasant and tranquil. Matt made the process seem easy and comfortable. So, indeed wonderful loan mortgage originator that was the most superb!!!! Thank you physician bank for being the best ever in my book!!!! Also, Julie and Juanita were an intricate part of the process and great assets to the team!!! Kudos to all!!!!

4.9 61 reviews

Kazvin Marfatia ★★★★★ 4 months ago
My fiancé and I are so grateful we got to work with Julie! As first time home buyers, the home buying process can be daunting but we honestly could not have had a better experience. Julie is available night and day to address any of our … More concerns and her responses are always very prompt. We valued how organized she is and would recommend her expertise to anyone. Thank you Julie!!! Looking forward to working with you again in the future :)
Kirbi Sullivan ★★★★★ 6 months ago
Matt was the best! Wonderful to work with and made the process so easy. Very responsive and easy to get ahold of 24/7. Great option for first time home buyers and young physicians in residency. My husband looked at several options for mortgages … More and the Physician Bank team was by far the best. Juanita was also wonderful and very helpful! Will definitely be recommending to other physicians looking to buy.
Cristina Toledo-Cornell ★★★★★ 7 months ago
I worked with Teresa DeWolf anf her awesome team and I could not be happier with their professionalism, engagement, efficiency and overral stellar costumer service. I have now referred her and her team at Physicians bank to other colleagues … More and family. She gave ne a great rate and I am a seasoned Buyer (4th home). The process is seameless and the app super user friendly. I could not have asked for a more seameless experience on getting a loan! Thank you!! Picture of my new home bellow!
Fernando Zayas Bazan ★★★★★ 5 months ago
Physician Bank helped me secure a home loan at a great interest rate. We just closed June 12th 2023! Thank you Ryan and Physician Bank for making this sooo smooth!
Trinh To ★★★★★ 2 months ago
We had the utmost pleasure to work with Julie Velline. She is amazing!!! She helped us close the house in 4 days!! She honestly did God's work and made our dream come true. We were with another lender for 2.5 weeks and were not satisfied … More with their service. The previous lender clearly did not specialized in physician loans like we thought they do. Otherwise, they wouldn't have made the process more complicated than what it really is. It was the constant back and forth and none of our goals were being met. You would think there'll be minimal issues when you have 1 pharmacist and 1 medical physician in the household with 2 incomes. We had major headaches with the previous lender before we finally gave up on them and decided to be brave to reach out to a new lender during the buying process!! I called 1-2 other lenders and they all gave me the realistic answer of "No, we need at least 3-4 weeks to gather all the paperwork and process the loan". It was understandable considering we were with another lender for literally 2.5 weeks yet no loan was officially closed. I finally reached out to Julie for one final effort… and it was on Labor Day, 9/4! I did not anticipate any response due to the holiday and clearly all the banks would be closed. However, Julie responded!! She said they were closed for the holiday but she was willing to look over our documentation. I asked her if she can realistically help us close the loan on our closing date & she said "I don't see why not??". I was nearly in shock. My boyfriend and I sent over all the required documents. Julie and her processor literally worked around the clock for 2-3 days straight, I tell you! She was super responsive to her emails and worked like no other. She made sure to take care of us and to meet our goal of closing the house on 9/13/23. Honestly wow. Everyone we encountered during this buying process was nice and enjoyable to work with. They clearly know what they're doing and clearly have worked with other physicians and healthcare professionals before. They know how doctors live their life and their typical situations. They didn't have much questions regarding our background and finances. A+++ for Physician Bank and Julie! We are truly thankful for you.
Tony Captain ★★★★★ 5 months ago
Matt velline was an amazing mortgage loan originator. This was undoubtedly the most flawless and efficient process I have ever been involved in to obtain home mortgage loan. Rather the Spanish inquisition, I encountered a consummate professional … More who embodied sincerety and kindness. He was informative every step along the way and made the experience pleasant and tranquil. Matt made the process seem easy and comfortable. So, indeed wonderful loan mortgage originator that was the most superb!!!! Thank you physician bank for being the best ever in my book!!!! Also, Julie and Juanita were an intricate part of the process and great assets to the team!!! Kudos to all!!!!