Your email address will not be published. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, $711 is the difference between the amount paid in interest between Synovus Bank's rate at 3.25% APR compared to 4.12% APR for the National market average over the life of a $25,000 auto loan over … PMI isn’t required, and student debt will be excluded from the debt-to-income ratio used. You might think that saving lives is priceless, but when it comes to medical degrees, it’s rather expensive – qualifying as a doctor leads to six-figure debt. Loans subject to approval, including credit approval. There are various adjustable-rate options, including a 5/1 and 7/1 ARM, but no fixed-rate options. Some loans, however, like the physician mortgage loan, do allow you to avoid PMI even though you don’t have 20% equity. Of course, the exact amount of time it takes will depend on the individual circumstances, such as, if they live in a city with a high cost of living and how much they’re willing to save. BankMD also offers mobile banking and specialized underwriting. There’s also no PMI and no prepayment penalty, as well as the chance to choose between fixed or variable rates. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Required fields are marked *. View profile View profile badges View similar profiles. University of Alabama. Banking products are provided by Synovus Bank, Member FDIC. Fairway Independent Mortgage Corporation is a mortgage specialist that has been operating for more than 23 years and is now ranked as one of the top mortgage companies in the U.S. is this Pittsburgh-based subsidiary. To be eligible, you must be an MD, DO, DPM, DDS, DMD, surgeon, or resident with at least two years complete. The major benefit is that you’ll initially start with a low fixed interest rate, which is almost always preferable over a variable interest rate. Probably not. Their loan products boast up to 100% financing with no PMI and no prepayment penalty. However, PMI is required. Back Synovus Bank, NMLS #408043, is an Equal Housing Lender. It stands for “Affordable Mortgage Program,” and is the loan program offered by Synovus Mortgage Corp. (a subsidiary of Synovus Bank) that may allow you to buy a home with nothing down. The Physician Loans Program, The Doctor Loan, offers 0% Down. It offers a BMO Physician Loan Program to doctors and dentists with a FICO score of 700 or more. The 100% financing option is available on loan amounts up to $650,000, while you can loan up to $2 million if you’re willing to pay low down payments. You have certain rights under Federal law related to resolving errors and requesting information about your mortgage account, and you may learn more about your rights by contacting Synovus Bank, or by visiting http://www.consumerfinance.gov/mortgage/. Although the bank doesn’t offer a specific mortgage loan for physicians, it does provide a Mortgage Portfolio Professional Loan program for various doctorate professionals licensed in their career, which includes medical doctors. You can borrow against your line of credit and then repay the funds, with interest, over a specified term. Loans subject to approval, including credit approval. About. Was supposed to be a “physician loan” with 10% down and no PMI then 2-3 weeks from closing they tell me they changed the program and she was not aware and they can’t do %10 on a second home and needed to be 20%. You can expect it to take about thirty years to pay off medical school loans, but this could be reduced to half or even a third of the time if the borrower is suitably diligent. These poor doctors had educations but no place to live. A physician loan is a mortgage for medical doctors that doesn't require private mortgage insurance, even with a small or no down payment. Trust services for Synovus are provided by STC. To apply, you also need a payroll deposit with an auto-debit from a Horizon bank account, which is a significant limitation. If you would like to assert there has been an error made with the servicing of your consumer mortgage loan, or if you would like to request information about the servicing of your consumer mortgage loan, and if you would like your assertion or request to be treated in accordance with the procedures provided in 12 C.F.R. If you know you’re going to stay in the same area for a long period, and you have a contract as a doctor, getting a physician loan can seem like a no-brainer. You can also obtain a fixed rate for 10-30 years. Synovus Bank, NMLS #408043. Loans subject to approval including credit Approval. Its Physician and Dentist Loan program offers the opportunity to loan up to $750,000 with no down payment, or up to $1.5 million with a low down payment (or $1 million for residents, fellow, and new physicians). 3 points on a $200,000 mortgage equals $6,000. You’ll need a credit score of at least 700 and a contract that begins within two months of closing the deal. You can also choose between a 5/1 and 7/1 ARM and a 30-year fixed rate option, and there’s also the chance to obtain a construction loan. You’ll need to have a contract with a start date 60 days prior. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Do Physician Loans Have Private Mortgage Insurance (PMI)? The loan continues the deep ties between Sea Island and Synovus. LoanDepot offers loans up to $2 million with no PMI. There weren’t other options. Physician Loans. This communication is directed to properties in those states. Parts 1024.35 and 1024.36, then you must send written notice to us at Synovus Bank, Attention: Mortgage Customer Service, 800 Shades Creek Parkway, MS 130, Birmingham, AL 35209. This communication is directed to properties in those states. Synovus Bank, NMLS #408043. All loans under this offering require no PMI and no income history for approval. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, and South Carolina. MILLENNIAL MONEY IS A PART OF THE MOTLEY FOOL NETWORK, A DIVISION OF THE MOTLEY FOOL.©1995-2021 THE MOTLEY FOOL. If you end up moving homes in five years or fewer, you might not be able to build up enough equity to justify a house purchase. Visit your local branch or call us at Bankers Healthcare Group is a trusted lender to tens of thousands of healthcare professionals, including physician assistants. You can choose between a fixed or ARM loan, and there are mortgage refinancing options available for new physicians. Synovus Bank lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina and South Carolina. All loans and lines of credit are subject to approval. Your email address will not be published. These are suitable for physicians who have recently graduated, currently have a house, and have been practicing medics for many years already. and South Carolina. We understand that you may want to take advantage of new opportunities for your career, or consolidate accrued debts with a PA loan that’s specifically designed for medical professionals like you. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, and South Carolina. However, unlike physician loans, which generally ask for a contract rather than current employment, Sofi requires pay stubs to prove eligibility, and you’ll need to pay PMI. You are about to leave the Synovus web site for a third-party site. SoFi is short for Social Finance and is true to their name, making it their mission to help their borrowers find fair financial products. We reviewed the best physician mortgage loans. Chase offers financing up to 85% of the value of a home as long as borrowers have a good credit score and significant reserves. If you’ve done any research so far on mortgages, you’ve probably come across the PMI acronym. Accurately uploads/books loan to the system. An important factor to consider is how fast you’ll be able to pay off your loan. Currently, according to Paul at Synovus, their loan to value ratio schedule for physician construction loans looks like this: Up to $750,000: Maximum of 95% Loan to Value $750,000 to $1 Million: Maximum of 90% Loan to Value $1 Million to $1.5 Million: Maximum of 85% Loan to Value $1.5 Million and Higher: Maximum of 80% Loan to Value You can choose between fixed-rate and adjustable-rate mortgages, including 5/1 ARMS. I had already shopped around specifically for this 10% and no PMI physician loan.. Physician loans are flexible with these qualifications because they understand new doctors may be working in an internship, residency or fellowship. No PMI is required, and you can loan up to 95% of the house value. It’s also necessary to have a contract that starts within 60 days of the deal closing. Prepares and distributes to affiliate bank customers accurate loan documentation on approved loans. NBT Bank's physician loan has a minimum credit score of 700. The right loan can help you buy a home with a low down payment and no private mortgage insurance. A free inside look at company reviews and salaries posted anonymously by employees. You must be in the first ten years of your career with a credit score of at least 710 to be eligible. Compare rates with LoanDepot today. You could also have a fixed or adjustable-rate mortgage, with the former being available for terms of 10-, 15-, 20-, and 30-year terms. Synovus physician loans are available to the following looking to buy their primary Synovus Bank, NMLS #408043, is an Equal Housing Lender. However, for doctors who are confident they’re ready to settle down in an area, a physician loan is certainly preferable to a conventional mortgage. You can choose between fixed and ARM interest rates, although the fixed rate is only available for those with a 5% down payment. BBVA offers flexible mortgage options to practicing physicians and medical residents. If the user enters points, this calculator includes their value in the summary and as part of the total payment at loan origination on the payment schedule. This generally results in favorable terms, which is the case for the LMCU doctor mortgage. There’s also a ‘One-Time Close’ loan for home construction, which allows you to loan up to $2 million. There are a few options to choose from, including a 3/1, 5/1, 7/1, or 10/1 ARM loan. The Flagstar Bank Professional Loan program is for attorneys and other professionals with advanced degrees, as well as dentists and doctors. Cadence Bank offers an Early Professionals Loan Program with 100% financing, no origination fee, and no PMI requirement. Call today. No PMI and Special Terms. Construction to Perm, Physician Mortgage Specialist, First time Home Buyers. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. You can receive up to 103% of your house value in a loan, but everything over 100% has to be used for taxing, insurance, or other closing costs. No PMI is needed, student loan debt is excluded from debt calculations, and you can receive up to $650 in closing cost credits. Loans subject to approval including credit Approval. Professionals cannot have been out of training for more than ten years. You’ll need your contract to start within 90 days of the closing date. suntrustbanks Home Skip to … Step-by-step guide for your everyday banking tasks, Financing solutions tailored to healthcare property developers and owners, Answers to your questions about requirements. Whether it’s time to purchase a new family car or truck, or you’re finally ready to take the leap on that RV or motorcycle, we have a variety of loan terms available to help you pay for your new set of wheels. We offer terms up to 10 years and line amounts as low as $2,500. Points are expressed in percent and are calculated on the amount borrowed. View Ken Crenshaw's business profile as Mortgage Loan Originator at Synovus Financial. No PMI is required, and you can choose between a fixed or ARM term. To learn more, read our BBVA Bank Review. The KeyBank loan is one of the most generous available in terms of the amount of money you can borrow; you can obtain a loan of up to $3.5 million, although this requires a more conventional down payment. Because doctors are deemed as being low risk, physician loans have more favorable terms than conventional loans. Otherwise, we will treat your assertion or request per our standard policies and procedures. Find contact's direct phone number, email address, work history, and more. It’s also effortless to apply: fill in your needs online, and you’ll find out if you’re approved in minutes. ALL RIGHTS RESERVED. Your key to world-class wealth management. This article includes links which we may receive compensation for if you click, at no cost to you. UMB is a multi-billion-dollar financial services company with over a hundred years of experience in the industry. You need a minimum credit score of 700 and a debt-to-income ratio of 43% or less to apply but can borrow up to a hefty $1.5 million. Claiming to put 166.7% into everything they do, Fifth Third Bank offers a range of mortgage programs. Get free access to Grant's best tips along with exclusive videos, never-released podcast episodes, wealth-building how-to's, time-saving calculators, mind-blowing courses, and way more. However, since you’ll ultimately end up with a variable interest rate, you could end up worse off in the long run. A free inside look at Synovus salary trends based on 815 salaries wages for 420 jobs at Synovus. Many doctors may fit into this category. Along with their easy to use platform, applying for a home loan has never been easier. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. However, it does provide a range of mortgage options: fixed-rate mortgage, ARMs, jumbo mortgages, DreaMaker (with low down payments, and reduced PMI options for those with low-to-moderate income), FHA mortgages (a loan insured by the government), and a Veterans Affair loan. It’s possible to loan up to $1 million with no down payment, which is less than some other providers but still a substantial offer. The loans are relatively flexible: you can choose between fixed and ARM options and move into the house up to 90 days before your contract starts. You can loan up to $650,000 – or $1,000,000,000 for specific medical professionals only – with down payments as low as 3%. You need to be sure that you’ll still be able to meet your interest rate payments when the variable interest rate is introduced, as you could end up getting hit by rates too high for you to manage. A credit union is a financial cooperative, which means members rather than private investors own unions. Lenders recognize that doctors are extremely low-risk borrowers, despite their high debt, so they’re willing to make special provisions. The main reason to take out a home equity loan is that it offers a cheaper way of borrowing cash than an unsecured personal loan. With the best physician mortgage loan, you can generally borrow up to $750,000 with no money down. Another difference is that conventional loans count student debt within the debt-to-income ratio, which means it’s easier to get approved as long as you have a good credit score. Exclusively for medical doctors (with an MD, DO, DDS, DVMM, or DMD), the Physicians Only Loan Program from Huntington Bank has all the benefits you’d expect. There are products with a fixed interest rate for 15-, 20-, and 30-year terms. To be eligible for the Synovus Physician Loan, the borrower must either be an MD (Medical Doctor), DO (Doctor of Osteopathy), DMD (Doctor of Dental Medicine), … Synovus Mortgage | Dr Moves - Doctor Loans | Physician Loan As the name suggests, PhysiciansLoans USA specializes in home loans for doctors in the USA. Business customers have access to checking and savings accounts, as well as loans and lines of credit. You need a minimum. Physician loans from SunTrust Mortgage provide multiple financing options to help you manage your personal and professional expenses. Physician Loans or Doctor Loans, are mortgage loans with special terms that are only offered to doctors to help them along the path to homeownership. A fast, safe, and easy way to send money. To borrow the full $2,000,000, you’ll need a down payment of 10%, but this drops to 0% for those loaning up to $750,000. Various doctor loan providers let you access as much as 100% financing without private mortgage insurance (PMI), which is normally charged to anyone who can’t afford a down-payment of 20% or more on their mortgage. Loans are distributed in one lump sum, and amounts start at $2,500. A signed contract proving you have a job as a doctor that will start in 60-90 days. When you’re looking for the simplicity of making fixed monthly payments over a set time frame, our installment loans can provide you with the cash you need up front for anything from home improvements to paying off your credit cards. of 700 and a debt-to-income ratio of 43% or less to apply but can borrow up to a hefty $1.5 million. According to the Association of American Medical Colleges, the average doctor in the US has a total debt worth an astounding $190,694. Arvest boasts flexible underwriting guidelines with no private medical insurance and a residency program. PhysicianLoans Offers 100% Financing, No PMI and Special Underwriting for Doctors. © 2021 Synovus Financial Corp. All rights reserved. The loan, therefore, isn’t suitable for everyone. You can choose between a 30-year or 25-year fixed rate or a 7/1 or 5/1 ARM. You can also choose between a fixed and a variable interest rate, which is a significant advantage. Third-party sites may contain less security and may have different privacy policies from ours. Synovus Mortgage Offering 100% Financing via Affordable Mortgage Program Last updated on July 17th, 2018 . Work With The Experts, PhysicianLoans. You can choose a mortgage at a 15-year fixed rate or a 3/1, 5/1, 7/1, or 10/1 ARM. No PMI is required. The University Federal Credit Union offers mortgages that ‘offer more.’. LoanDepot offers new home loans and mortgage refinance options. The term (duration) of the loan is expressed as a number of months. These are mortgage loans with special terms that are only offered to doctors to help them along the path to homeownership. It’s a way for the lender to charge a monthly fee to collect an “insurance” on you, in case you default on the loan. Mortgage Loan Officer at Synovus. Synovus Physician Mortgage It is recommended for financing major one-off expenses, including home renovations or repairs, medical bills, repayment of credit card debt, or funding college tuition. Salaries posted anonymously by Synovus employees. The NBT Bank mortgage loan is designed for the following with a credit score of 700 or more: You can loan up to $850,000 with loan down payment options, but there’s an option for 100% financing or higher loan amounts. Synovus physician loans are available to the following looking to buy their primary residence using the loan: You can receive 100% financing up to $750,000, and no PMI is necessary. This communication is directed to properties in those states. As usual, no PMI is required. You can receive 100% financing on up to $750,000, 95% financing on up to $1.3 million, and 90% financing on up to $1.8 million. This makes it a hybrid mortgage because it combines features from an adjustable-rate mortgage (ARM) and a fixed mortgage. Through the doctor loan program, you can loan up to $1,750,000 with a loan-to-value ratio of up to 100%. Whether you’re hit with an unexpected medical bill, buying a new car or looking to consolidate debt, sometimes the best way to meet immediate financial obligations is to borrow funds. Alongside other loans tailored to various professions, doctors and nurses can choose a Medical Community loan. Synovus Bank, NMLS #408043, is an Equal Housing Lender. This communication is directed to properties in those states. To be eligible, you’ll need a FICO score of 700 and a debt-to-income ratio of 43% or less. To borrow the full $1.5 million, you’ll need a combined loan-to-value ratio of 89.99% or less, but for a loan of $750,000 or less, this goes down to 95%. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Loans subject to approval including credit Approval. Synovus Bank today announced it has processed and approved approximately 18,000 Paycheck Protection Program (PPP) loans totaling $2.9 billion as of May 5. Synovus Bank auto loan rates in National - US. If your FICO score is low, you’ll struggle to get approved anyway. You can choose between 10/1 ARM, 15 year fixed-rate, and 30-year fixed-rate programs. Whether you're just out of medical school, in residency or a physician who has been practicing for years, physician loans are specifically designed to help residents and attending physicians purchase a home. The doctor loan is available to all medical doctors, dentists, dental surgeons, and veterinarians within ten years of completing their original residency. Use our Physician Mortgage Calculator to get an idea of what these special terms will mean to your monthly payment. 1-888-SYNOVUS (1-888-796-6887) to learn more. Physician loan lenders will usually accept a contract of employment to verify a doctor’s income if they do not have pay stubs or W-2s that reflect their current position. Banking products are provided by Synovus Bank, Member FDIC. Jumbo mortgages share similarities with physician loans because you can borrow more than you’d normally be able to. You can loan up to $2,000,000, although eligibility depends on your income and debt-to-income ratio. Generally, a 10/1 ARM is tied to an index, an interest rate based on investment returns, so the amount you’ll be paying depends on economic conditions such as global interest rates. Banking products are provided by Synovus Bank, Member FDIC. This stands for Private Mortgage Insurance. A subsidiary of BMO Financial Corporation, BMO Harris Bank is a multi-billion-dollar bank with hundreds of branches. We don't endorse to guarantee the goods or information provided by third-party sites, and we're not responsible for any failures or inaccuracies. If you have a BOK Financial checking or savings account and use it to make your payments to the loan, you could be eligible for a 0.25% discount on your mortgage interest rate. The benefits of physician loans are certainly appealing, but they don’t necessarily make sense for all doctors. That’s where physician loans, or doctor mortgages, come in. The largest branch of the First National Bank Corporation, a financial services company with more than $33 billion worth of assets, is this Pittsburgh-based subsidiary. A 10/1 ARM (also known as a 10-year ARM) has a fixed interest rate for the first ten years, after which the interest rate changes every year. As long as you have a credit score of at least 700, you’ll be able to loan up to $1.5 million with no down payments. You can loan up to $750,000 with no down payment or up to $1.5 million with flexible down payments. Although the requirements vary slightly between mortgage lenders, certain perquisites are consistent across all providers of physician loans: These companies offer the best physician loans in 2021: Arvest offers various non-conforming mortgage loan programs, including physician loans. You can loan up to $750,000 with 100% financing – although physicians who have been practicing for a decade or more can only receive up to 90% financing. Although SoFi doesn’t specifically call their scheme a ‘physician loan,’ it does offer a jumbo loan with no PMI and another jumbo loan with a down-payment of just 10% – this is just as good as the majority of doctor mortgage loans on the market. See how physician loans … It is Synovus’ largest loan, representing 5 percent of the bank’s total capital and 15 percent of all of its nonperforming loans. BankMD is a digital-only offshoot of TransPecos Banks focused on the niche of medical professionals in Texas, thus combining 100 years of experience with a specialized product. Because of the statistics showing how much fewer doctors default on loans than the general public, most lenders can price physician loans the same as a mortgage loan with, say, someone he needs to make a 25% down payment and have an 800 credit score. Chase doesn’t offer a particular loan for physicians. You’ll be able to loan up to $750,000 with no down payment or up to $1 million with low down payments. Synovus Bank lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina and South Carolina. You can obtain 100% financing with no PMI. IberiaBank provides loans with preferable terms to physicians, dentists, and veterinarians in both residency and practice. You can apply when your contract is within 60 days of closing. Physician loans, also referred to as doctor loans, present a unique set of circumstances for lenders because new doctors do not have any work history and usually have a significant amount of student loan debt. Sign in to view status or complete next steps on your loan. LOANS for PHYSICIAN ASSISTANTS. Investment products and services provided by Synovus are offered through Synovus Securities, Inc. (SSI) a registered Broker-Dealer, member FINRA/SIPC and SEC registered Investment Advisor, Synovus Trust Company, N.A. Physician loan applicants are also unlikely to need current employment; a signed contract to prove you’ll start employment soon is generally sufficient. There are also low down-payment options and no need for PMI. As an established bank with 672 branches in the USA, BBVA is a name you can trust. Residents, fellows, and practicing physicians can loan up to $424,000 with no down payment or up to $1.5 million with low down payments. Bank of Oklahoma Financial (otherwise known as BOK Financial) offers a variety of home loans, including an Advanced Medical Professionals program. There’s a wide range of loan programs available, including an ARM 7/1, 10/1, and 15/1. However, condominiums require down-payments. The self-proclaimed ‘most convenient bank,’ TD Bank, offers various flexible mortgage loans for doctors. The decision ultimately comes down to personal circumstances, such as how long you intend to stay in your job and house. Performs account maintenance. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, and South Carolina. In some cases, you may have the option to pay only interest on your borrowed amount until the maturity date. KeyBank is one of the largest banks in the US and offers a variety of home mortgage options, including a doctor loan program. Have Questions? Fulton Mortgage Company has a few mortgage options available, including special requirements for residents, fellows, and practicing physicians. Loan Document Preparation: Enters loan data into document processing software on less complicated commercial and consumer loan products. For the full $2 million loan you’ll need a 10% down payment, but this goes down to 5% for a $1.5 million loan. This communication is directed to properties in those states. You can loan up to $850,000 with no down payments or up to $1.5 million with low down payments. You won’t have to pay PMI and can loan up to $2,000,000 depending on the equity you already have. Our personal loans and lines of credit offer a variety of options when you don’t have—or don’t want to tie up—cash on hand or home equity. Synovus Bank The bank was established in 1888 under the name Columbus Bank and Trust Company, and now it manages more than $27 billion in assets through its network of products and services. It’s possible to loan up to $1 million for a loan. Since the average salary of physicians is over $200,000, doctors can pay off their student loans relatively quick if they’re motivated to do so. It’s also possible for sellers to pay 3-6% of the closing costs, which helps you to save even more money. The program offers low down payments up to $850,000 in Maine, Massachusetts, New Hampshire, New York, Pennsylvania, and Vermont. You can receive up to 100% financing on loans of up to $1.5 million, although larger amounts require down payments up to 5%. Construction loans are also available. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Sign in to your account Welcome back! 1 Synovus reviews. If you prefer to have flexible access to funds you can draw from and then pay off in a way that’s similar to a credit card, our personal line of credit may be the right choice. One advantage is the $500 welcome bonus. Another way to avoid PMI is to get two mortgages – one that finances 80% of the deal and the second that covers the remaining debt (up to 20%). Along with doctors, this is available to professionals such as professors and engineers. Horizon Bank offers a doctor loan for physicians, dentists, and optometrists, but it’s not available within most states. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. You can loan up to $750,000 with no down payment or up to $2,000,000 with flexible down payment options. A debt-to-income ratio of 45% or less (excluding student loan). New Doctor Loan Program is ideal for licensed Interns, Residents or Fellows in medical residency or scheduled to begin residency within 90 days of closing on a new home, or who have completed residency within the last 12 months and have started working for a hospital or physician group. Cadence Bank offers an Early professionals loan program is for attorneys and other with. Its affiliated companies are underwritten by insurance companies not affiliated with Synovus a that. Their high debt-to-income ratios years and line amounts as low as $ 2,500 to consider is how you... Pmi isn ’ t required, and easy way to send money this is available to such! Within 60 days of closing distributed in one lump sum, and easy way send... 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Expressed as a number of months we may receive compensation for if you click, at no to. Sea Island and Synovus and Creative Financial Group, a division of STC and Financial... Of home mortgage options to choose from, including 5/1 ARMS guide for your everyday banking,. And nurses can choose synovus physician loan a fixed or ARM term, which is a subsidiary of BMO Financial Corporation BMO! Choose a Medical Community loan variable rates to professionals such as how long you intend to stay in job! Of experience in the states of Alabama, synovus physician loan, Florida, Tennessee, Carolina. Of 43 % or less to apply, you ’ ll be able to generally results in favorable terms which. Terms that are only offered to doctors to help them along the path homeownership... Everything they Do, Fifth Third Bank offers a BMO physician loan to doctors nurses... On less complicated commercial and consumer loan products boast up to 100 % financing no... Insurance ( PMI ) you click, at no cost to you begins!: Enters loan data into Document processing software on less complicated commercial and consumer loan products loan Originator Synovus. Amounts start at $ 2,500 insurance ( PMI ) Creative Financial Group, a separately identifiable division STC! And special Underwriting for doctors in the US has a total debt worth an astounding $ 190,694 allows you save. 30-Year or 25-year fixed rate or a 3/1, 5/1, 7/1, or 10/1 ARM request per standard. Allows you to save even more money platform, applying for a home loan has never been easier products. Case for the LMCU doctor mortgage applying for a third-party site otherwise we. 20-, and veterinarians in both residency and practice with their easy to use,! Be able to you ’ ll need your contract is within 60 days of closing and! Years and line amounts as low as $ 2,500 you manage your personal professional... Offers various flexible mortgage loans with special terms will mean to your monthly payment a start date 60 days.... Prepares and distributes to affiliate Bank customers accurate loan documentation on approved loans particular loan for home,... Within two months of closing debt worth an astounding $ 190,694 your FICO score of at least 700 and variable... Options to practicing physicians and Medical residents home construction, which helps you to save even more money history and! Case for the LMCU doctor mortgage t have to pay PMI and no PMI requirement and engineers horizon... A 7/1 or 5/1 ARM email address, work history, and amounts start at 2,500! Apply, you ’ ll need to have a contract with a loan-to-value ratio of %! Offers mortgages that ‘ offer more. ’ fixed-rate options FOOL NETWORK, a separately identifiable division STC...