The Physician Home Loan
The Physician Mortgage Loan
Only available at Physician Bank, this mortgage loan for home purchases is available in all 50 U.S. states. Physician applicants must be licensed with one of the following medical degrees: Medical Doctor (MD), Doctor of Dental Surgery (DDS), Doctor of Medicine in Dentistry (DMD), Doctor of Optometry (DO), Doctor of Osteopathic Medicine (OD), Doctor of Podiatric Medicine (DPM), Doctor of Veterinary Medicine (DVM), or Registered Pharmacists (PharmD). The Physician Home Loan offers unique benefits compared to many traditional mortgage types, including:
- 100% financing1
- 90 day locks2
- Leniency towards student loan debt during decisioning3
- No private mortgage insurance fees (PMI)
- DTI up to 45%4
- Single family dwellings, townhome, condo and 4-unit owner occupied purchases
Additionally, qualified physicians can obtain mortgage financing up to $4,000,0005. Medical residents and practicing physicians may apply. To get started, simply submit your information and one of our in-house physician loan specialists will contact you.
More Than Mortgages
Physician Bank offers a suite of financial products and services for physicians including personal loans, private banking and deposit accounts.
Account Features
- Earn our highest interest rate on qualifying balances up to $100,0001
- Automatic Refunds on ATM fees, up to $25 per month
- No Minimum Balance
- No Service Charges2
- Free Digital Banking, Debit Card, Online Bill Pay and more
Simply meet 3 easy requirements to qualify for incentive rates:
- Use your debit card for monthly purchases of $2,000 or more3.
- Have at least one direct deposit or automatic payment (ACH) each month
- Enroll to receive eStatements4
paper statements being sent to you by US Mail)
Our Jumbo Deposit Account is an interest bearing account with flexible options to ensure deposits up to $7 million can be fully FDIC insured.
Current Jumbo Deposit Account Rates:
- 3.02% APY1 with $230,000 minimum balance (On balances up to $4,000,000)
- 2.04% APY1 with $100,000 minimum balance
- 1.01% APY1 with $.01 minimum balance
Deposits insured by the FDIC to the maximum allowed by law:
Minimum Opening Deposit: $1,000.00
Minimum Balance: $0.01
Interest: Compounded and credited monthly
This is an all-electronic account that must be managed online. No checks or debit cards are available with this account. No maturity date; no early withdrawal penalty.
1The annual percentage yield (APY) is accurate as of 11/07/2022. The interest rate is variable and may change after the account is opened.
Fees may reduce earnings on the account. $15 per month fee if paper statements are mailed through the US Mail. $30 wire transfer fee waived for one outgoing domestic wire transfer per month. Unlimited incoming domestic wires at no charge. No financial institutions and brokers.
HSA FEATURES
- $50 minimum deposit to open account, waived if regular ACH deposits established at account opening
- Earn interest on the full balance of your HSA with tiered interest
- $50 setup fee ($30 setup fee if done online); to be paid at the time HSA is established, may be deferred for up to 30 days
- No monthly service charge on account.
Additional Features and Requirements
- Variable interest rate may change daily; Interest calculation is based on daily (collected) available balances and is compounded monthly
- Free eStatements or $4 per month if paper statements are mailed
- Free debit card; no checks with account
- Overdrafts & NSF: $33 per item
- $30 fee if account is closed within 6 months of opening
- Transfer money electronically to or from your account…anytime, online
- External Transfer: $50
- IRS corrections: $10
- Excess contributions: $20
- Make tax-free distributions from your HSA for qualified medical expenses using:
- Debit card at merchants and service providers—FREE
- ePay online bill pay—FREE
- In bank withdrawal—$10.00 each
Flexible Financing
Mortgage and banking solutions for physicians in all 50 states.
Flexible
Financing
Flexible
Financing
Mortgage and Banking solutions for physicians in any career stage are available in all 50 states through Physician Bank.
The 100% financing option while we started our first post-residency job, their rapid and efficient response rate to our questions and our numerous changes in schedule that occurred with our builder, and the absence of PMI were all extremely helpful.
Dr. David Ogden, UT