Doctor Home Loans

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.

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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.

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.
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.
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.
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.
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.

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.

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.

140 North Phillips Avenue #101A, Sioux Falls

4.8 76 reviews

Katie Moore ★★★★★ a month ago
I feel so incredibly lucky to have been able to work with Nikki Rydberg for my physician home loan. She repeatedly went above and beyond the call of duty to help me. She not only was the one who discovered a long-standing error in my credit … More report that even I had somehow missed (my medical student loans were reported in duplicate!), but she helped correct that error for the sake of this loan, and additionally helped me figure out next steps to take for permanent dispute of this reporting error for the sake of my credit in general. She was available to me around the clock for any and all questions, and I truly could not have asked for a better partner in navigating this stressful time. @Heritage Bank and @Physician Bank, you are incredibly lucky to have Nikki on your staff – I do not have enough positive things to say about my experience working with her!
Randy Cox ★★★★★ a month ago
Julie was great to work with through the mortgage process! She was very attentive, responsive, and supportive through the entire process. Highly recommend her and will be working with her in the future for any new home purchases or refinances! … More
Kazvin Marfatia ★★★★★ a year 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 🙂
Dr. CRP ★★★★★ a month ago
I need to provide a big thank you to Julie. I had an extremely hard time finding a lender who would provide a preapproval after relocating for work. All the other lenders were immediately dismissive since I have complicated finances due … More to owning multiple rental properties and the way lenders have been tightening their approvals. Julie straight up told me: I will find a way to get it done. And she followed through with that statement. Now I am typing my review in the comfort of my new home. It wasn't an easy process due to how complicated the structure of my properties are, but complicated and not having a home are two completely different scenarios. No one else could do it, but Julie did. A much deserved should out and 5 star review for getting the job done that no one else could. I am grateful.
Kelly Newton ★★★★★ 4 months ago
We had a lot of life changes and purchasing a new home was one of them. Julie was patient, knowledgeable, and walked us through every part of the process. Julie is an excellent communicator and was available at random times around my schedule. … More I highly recommend her and we now have the house of our dreams!
Chase Jackson ★★★★★ a month ago
Excellent & easy to work with. The smoothest process we've ever had dealing with any bank transactions. Julie made closing a breeze…we were in and out in less than 30 minutes at closing.
Tessa LaBounty ★★★★★ 7 months ago
I can not thank Julie Velline enough for the service she provided us during the home buying process. With the help of Julie and Physician Bank my husband and I were able to build our dream home. Julie was extremely knowledgeable and able … More to answer all of our questions (which as first time home buyers we had a lot of). She made the entire process run smoothly. I would definitely recommend Julie to anyone looking to buy or build a home, especially physician's who are interested in building their dream home as Physician Bank made the construction loan process so easy and seamless.
Brent Berry ★★★★★ 4 months ago
Julie is INCREDIBLE!! She is efficient and sooooo knowledgeable. The best part I would say is she cares!! She Pays close attention to each of my clients details and puts them in the best product to fit each buyers needs. Above all else … More she is the most kind and genuine person I know!
Brent Berry
eXp Realty
Fernanda Morais ★★★★★ 4 months ago
Julie was such a pleasure to work with. She was able to get everything we needed done quickly and smoothly (and responds during off hours) – even our realtor mentioned how efficient Julie was in making this process super easy.
Antoinette Hunt ★★★★★ 2 months ago
Nikki was a pleasure to work with. She made the transaction smooth to the closing. She is a professional and was responsive whenever needed to all parties concerned. She cares about her clients. I would highly recommend her for any of your … More loan needs.
Antoinette Hunt
Boukari Realty
Alachua Fl
Cristina Toledo-Cornell ★★★★★ a year 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 ★★★★★ a year 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 ★★★★★ a year 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.
Carolyn Lussenhop ★★★★★ a year ago
I had a wonderful experience with Physician Bank and they worked very closely with me to help me purchase my first home. My mortgage officer, Chris, was extremely helpful throughout the entire process. She is very knowledgeable, accountable, … More and went above and beyond to ensure that we closed on our home very quickly. We will continue to work with Physician Bank in the future, and I would absolutely recommend them to anyone!
Carrie Nemeh ★★★★★ a year ago
We just closed on our new home today and couldn't be more impressed with the service provided by Ryan at Physician Bank! He was incredibly responsive from start to finish. This was our first time buying a home so we had a lot of questions … More and Ryan was so patient and helped us every step of the way. We were able to get into our first choice home and close within 30 days. After extensive research we were most impressed by the choices and service provided by Ryan at Physician Bank which is why we ultimately chose this lender. Thank you!
Jonathan Wolf ★★★★★ a year ago
Jean at Physicians Bank was amazing. She got my wife and I in our forever home and helped us navigate the loan process. She made herself available to answer all our questions and helped make the lending process as stress free as possible. … More A true pleasure to work with and will be recommending her to others.