Doctor Home Loans

Doctor Home Loans

Specialized Home Loans for Doctors

Doctor Home Loans* from Physician Bank make it easier for physicians to realize their homeownership dreams. With flexible terms, low down payments, and exclusive benefits, these loans are designed to give doctors the financial support they need to purchase a home. Whether you’re an experienced doctor or just getting into medicine, you can make use of our Doctor Home Loans to secure the home of your dreams. Get started today!

*Loans are subject to credit approval.

GET STARTED ONLINE

AVERAGE RESPONSE TIME <10 MINUTES

Financing Options for Medical Professionals

When it comes to securing a home loan, medical professionals have a lot of options to choose from. However, doctor home loans are unique in that they offer a number of advantageous features that are specifically tailored to the needs of physicians. Through Physician Bank, medical professionals can access favorable terms, including:

  • Higher loan amounts: Physician Bank considers a doctor’s anticipated income along with current earnings. This gives you more flexibility to qualify for a larger loan.
  • Reduced down payment requirements: Enjoy the benefit of low down payment requirements as low as 0-5% of the home’s purchase price. Our loans enable doctors to become homeowners while still conserving their savings or investing in other areas.
  • Waived private mortgage insurance (PMI): With Physician Bank, Private Mortgage Insurance (PMI) is paid by the lender. With a doctor home loan, you can avoid the burden of an extra monthly payment, even with a down payment of less than 20%. Don’t miss out on this opportunity to save money and simplify your finances.
  • Flexible debt-to-income ratios: We take into account your potential future earnings and offer more flexible requirements for debt-to-income ratios. This is especially beneficial for those with significant student loan debt or other financial obligations.
  • Favorable interest rates: Save money on your home loan with competitive interest rates designed specifically for doctors. With our doctor home loans, you’ll benefit from lower rates that reflect the stability and earning potential of medical professionals.
  • Streamlined underwriting process: Physician bank recognizes the distinctive financial circumstances medical professionals face. With streamlined underwriting methods honed for the medical field, getting the green light on your loan is faster and more effective than ever.

Doctor Home Loans: Breaking Down Myths and Misconceptions

As a medical professional, you may be hesitant to consider specialized mortgage options due to common misconceptions. Don’t worry, we’ll set the record straight. Let’s clear up misunderstandings about limited eligibility, high interest rates, and complicated applications. Our aim is to provide you with a clear understanding of our doctor home loans and the benefits in reality.

  1. Myth: Only established doctors qualify. Fact: If you’re a resident, fellow or newly licensed doctor, you too can benefit from a doctor home loan. These loans are tailored to meet the unique needs of medical professionals, regardless of their level of experience.
  2. Myth: Doctor home loans have higher interest rates. Fact: Physician Bank actually offers competitive interest rates that are often similar to or lower than traditional mortgages. This is because we recognize the stability and earning potential of medical professionals.
  3. Myth: Doctor home loans require a large down payment. Fact: Physician Bank makes homeownership more accessible by offering lower down payment requirements. With programs available that allow doctors to finance their home with little to no down payment, getting the keys to your dream home has never been easier.
  4. Myth: Doctor home loans have restrictive eligibility criteria. Fact: Physician Bank home loans are tailored to your financial needs and situations. We take into account your future income potential, student loan debt, and employment contracts when determining eligibility. Find out more about how to qualify.
  5. Myth: The application process is complex and time-consuming. Fact: We are experts in the physician loan field and offer a streamlined and convenient application process tailored to the medical profession. Now you can easily apply and get approved quickly without the hassle of a traditional home loan.
Get Started With a Doctor Home Loan

Take the first step towards owning your dream home with a doctor home loan! Our easy-to-follow steps will guide you through the journey to homeownership. Don’t wait any longer, start the process and secure your future today.

  • Gather your financial information: Organize your finances before applying for a doctor home loan – Check your credit score, income statements, and outstanding debts.
  • Research different Physician Bank loan options: Check out the interest rates and repayment terms we offer, and keep an eye out for any fees. Take the time to choose the option that best fits your needs.
  • Contact Physician Bank: Ready to apply? Let us know what you’re looking for and we’ll get started. Don’t forget to gather your financial information from step 1. We’re ready when you are!
  • Complete our application: Don’t miss out on your chance to secure a loan! Be sure to submit your application with precise and thorough details. This information is crucial in determining your eligibility.
  • Wait for approval: Once you’ve submitted your application, we’ll review your details diligently. This process could take up to a few weeks, but we promise to get back to you as soon as we can.
  • Receive funds: Get the funds you need for your expenses by getting approved for a loan with us. Remember to use the funds wisely and make payments on time to protect your credit score.
More Than Doctor Home Loans

Looking for financial products that can help you save money? Look no further! In addition to our doctor home loans, we offer high-interest checking and savings accounts, and a Health Savings Account (HSA).

Our accounts boast highly competitive interest rates and low fees, allowing you to put more money towards your savings. Meanwhile, our HSA lets you contribute pre-tax dollars to cover qualified medical expenses tax-free.

Whether you’re looking to buy a home, save for the future, or manage your health care costs, we have products that can help. Get in touch today to learn more!

PAYROLL PLUS ACCOUNT

Give your paycheck a boost!

Get the best of both worlds – the convenience of Direct Deposit and an excellent rate of return.

Physician eCentive Checking Account

JUMBO DEPOSIT ACCOUNT

Your savings, safe and secure.

Maximize your savings with our high-yield interest-bearing account specifically designed for doctors. With flexible options, you can rest easy knowing deposits up to $7 million will be fully FDIC insured.

Physician Jumbo Savings Account

HEALTH SAVINGS ACCOUNT

Convenient health funds.

Save for medical expenses with ease! Our interest-bearing HSA account for eligible doctors is designed to be used alongside high-deductible health insurance plans. Start investing in your health today.

Physician Health Savings Account
New! 4.04% APY* on checking.
*APY = Annual Percentage Yield

Accessibility Toolbar

Payroll Plus Checking Account

*APY = Annual Percentage Yield. Fees may reduce earnings. Interest rate is variable and may change after the account is opened. Rate applies to balances between $0.01 and $100,000

To earn 4.04%, you must:

  1. Have at least $5,000 in direct deposit each month from payroll, social security, investment income, or other forms of monthly income.
  2. Have monthly debit card purchases posted to your account equaling a minimum of $500. Please note that ATM transactions do not count toward the debit card purchase requirement.
  3. Enroll and receive monthly eStatements. With eStatements, you must have a valid email address to enroll. $4 per month fee applies if not enrolled in eStatements and paper statements are sent through U.S. Mail.

Payroll Plus Rates effective as of June 1, 2024. Minimum opening deposit of $100.