The Physician Home Loan
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)
- 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 and condo purchases
Additionally, qualified physicians can obtain mortgage financing up to $3,000,0005.
May Also Include:
To get started simply Submit Your Information Below 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.
Meet these 3 easy qualifications:
- Total monthly debit card purchases posted to your account equaling a minimum of $2,000*
- Have at least one direct deposit or automatic payment (ACH) each month
- Receive monthly eStatements
Monthly incentives:
- Earn our highest yielding checking interest rate on balances up to $100,000**
- Automatic refunds up to $25 per month (Refunds for domestic ATM fees charged by other ATM owners and MasterCard cross border/currency conversion fees for debit card foreign transactions)
Physician eCentive® Account Features:
- No minimum balance
- $100 minimum to open account
- Monthly eStatements required; Must have valid email address to enroll ($4 per month if you fail to enroll and paper statements are sent to you through U.S. Mail)
- Debit card included
Additional Features and Requirements
- Primary account-holders (based on social security numbers) are limited to two (2) Physician eCentive® accounts at Physician Bank.
- Overdrafts & NSF: $33 per item
- Free Digital Banking, Mobile Banking, ePay online bill pay and more!
- Transfer money electronically to or from your account…anytime, online
- $30 fee if the account is closed within 6 months of opening
- Interest rate is variable and may change after the account is opened
*Please note that ATM transactions do not count toward the debit card purchase requirement.
**When the Physician eCentive® Account qualifications are met, balances up to $100,000 will earn that qualification rate for the entire statement cycle. Balances of $100,000.01 and above will receive that qualification rate for the entire month. If applicable, sales tax will be applied to service charges for accounts opened in Iowa.
| 1.52% APY1 (Interest Rate: 1.01%) | Qualifying balances $0.01 – $100,0002 |
| 0.14% APY1 | Qualifying balances $100,000.01 and greater2 |
| 0.05% APY1 | Base Interest Rate (non-qualifying) |
1 APY = annual percentage yield. Fees may reduce earnings. Interest rate may change after the account is opened. Interest Rates Effective Since March 1, 2023.
2 Must meet monthly requirements to receive qualifying interest rates. Once you meet the monthly qualifications, interest will be recalculated at the appropriate interest rate and eligible fees will be refunded.
Our Jumbo Deposit Account is an interest-bearing account with flexible options to ensure deposits up to $4 million can be fully FDIC insured.
Current Jumbo Deposit Account Rates:
- 1.72% APY1 with $230,000 minimum balance (On balances up to $4,000,000)
- 1.64% APY1 with $100,000 minimum balance
- 0.01% 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.
1APY = Annual Percentage Yield. Fees may reduce earnings. Interest rate is variable and may change after the account is opened. Interest Rates Effective Since September 1, 2022.
$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
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
- One free debit card (additional cards $10 each); 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
- ePay online bill pay
- In bank withdrawal—$10.00 each
** Please consult your tax preparer for eligibility and contribution limits.
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