MD Mortgage Loan Blog

Navigating the World of Doctor Mortgages in Arlington

As a medical professional, your journey towards homeownership in Arlington, Texas, can be both exciting and challenging. While the pursuit of your dream home is a significant milestone, understanding the unique financial options available to doctors can make the process smoother and more affordable.

One of the most standout features of a physician mortgage is the low down payment requirement, often as low as 0-5%. This allows doctors to conserve their savings for other financial priorities. Unlike conventional loans, doctor mortgages typically do not require PMI (Private Mortgage Insurance). Some doctor mortgage programs may be more forgiving of limited credit history or student loan debt.

MD Mortgage Loan has lenders with unique home loan solutions for licensed and practicing doctors, dentists, medical residents and fellows, and other eligible medical professionals. 

It is easy to get paired with a Texas-based doctor mortgage lender.  Simply click here.

Seven of the top Texas licensed Physician Mortgage Lenders are:

First Horizon of Arlington, TX Physician Mortgage Program

  • Eligible Medical Professions include: MD, DO, OMS, DPM
  • Up to 100% financing for loans up to $1,500,000
  • For the purchase of primary residence only
  • 30-Year Fixed Rate
  • Student debt is not included in qualifying if deferred for more than 12 months
  • Loan amounts up to $2,500,000 
  • Adjustable Rate Mortgages are available
  • Minimum 680 Credit Score
  • Advantages – HIGHLY competitive interest rates, No mortgage insurance, Favorable repayment terms, No prepayment penalty

Wintrust of Arlington, TX Physician Mortgage Program

  • Eligible Professionals Include actively practicing:
    • Existing or newly licensed Medical Doctors (MD)
    • Doctors of Osteopathic Medicine (DO)
    • Doctors of Dental Science (DDS)
    • Doctors of Dental Medicine (DMD)
    • Veterinarians
  • Highlights:
    • Low down payment options
    • Up to 12 months of deferred medical student debt
    • Adjustable-Rate Mortgages
    • Financing available for primary residence properties
    • No private mortgage insurance required

Truist of Arlington, TX Physician Mortgage Program

  • Eligible Professionals Include actively practicing: MD, DO, DPM, DDS, DMD
  • Highlights:
    • No Private Mortgage Insurance
    • CONDOs – Max Loan Amount $1,000,000
    • 30 & 15 Year Fixed, 5,7,10/6 ARM’s available
    • Cash out and Refinances allowed
    • Primary residences only
    • Flexible FTI requirements for high-income earners, up to 50% DTI
    • Student loan debt deferred for at least 12 Months excluded from debt-to-income ratio or IBR payments.
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Unlocking Homeownership for Galveston Doctors: Physician Mortgages Explained

Galveston, Texas, with its charming coastal beauty and thriving student medical community, is an attractive destination for doctors to establish their careers. Physician mortgages are tailor-made solutions designed to help Galveston physicians overcome obstacles and achieve homeownership.

Feel free to compare physician lender benefits, eligibility criteria, and why they are the perfect choice for doctors looking to invest in the vibrant Galveston real estate market.

Physician mortgages usually offer low or no down payment. Traditional mortgages often require a 20% down payment, which creates a significant barrier for many buyers. Physician loans, on the other hand, may require as little as 0-5% down, making homeownership more accessible. Physician lenders have programs that often consider only the future income potential of the doctor, rather than the current debt load. Conventional mortgages usually mandate PMI (Private Mortgage Insurance) if the down payment is less than 20%. Physician loan programs typically waive this requirement, saving hundreds to thousands each month.

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Fort Worth, TX Physicians Mortgage Benefits & Options

Doctor mortgage lending programs are being granted to Fort Worth, TX physicians!  There are specialized mortgage options designed to cater to the unique financial situations of medical professionals, including doctors, dentists, optometrists, pharmacists, and veterinarians. These exclusive programs typically offer favorable terms and benefits tailored to the specific needs of healthcare professionals, such as ignoring high student loan debt and irregular income during residency.

Fort Worth, Texas is currently seeing an influx of physicians relocating to the area.  Texas Health Harris Methodist Hospital Fort Worth is one of the largest and most well-known hospitals in Fort Worth. It is part of the Texas Health Resources system. JPS Hospital is a public hospital that serves as a major teaching facility. It is known for its trauma center and commitment to serving the underserved population. Cook Children’s is a pediatric hospital that offers specialized care for adolescents. Located in nearby Burleson, Texas Health Huguley Hospital is part of the Texas Health Resources network.…

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The Pros and Cons Of A Zero Down Doctor Mortgage

doctor mortgage

The Physician Home Loan Program, or “doctor loan” – is a mortgage that makes it both faster and easier for medical professionals to buy a home with a low down payment.

The other two major advantages of this type of loan are that lenders are able to offer a mortgage with zero to very little money down – only 0%, 5% and 10% down depending on the lender. Opting for one of the low down payment loans can help physician borrowers qualify for a lower interest rate and better terms. Plus, borrowers will save thousands in interest and pay less money over the life of the loan. 

However, there are both advantages and disadvantages to zero down mortgages. 

The Cons:

  1. Zero-down mortgage loans are a bad idea in a less-than-ideal market. If a buyer puts no money down and the market starts to tank, home values will go down (“underwater”). At that point buyers will owe more than the home is actually worth.

2. Putting zero money down at the start of the loan, results in not building home equity. Equity matters in situations where there may be a home emergency. With equity built up, home owners can qualify for a home equity loan or line of credit that will help pay for repairs.

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Hartford, CT Doctors: How to Compare Physician Mortgage Loans

Physician mortgages are a type of mortgage loan that is designed for doctors and other qualifying healthcare professionals. They offer competitive interest rates and zero-down payment options although terms vary per lender. Doctor mortgage loans are an excellent way for doctors and recent graduates to finance the purchase of a home and usually come with easier to qualify terms and lots of savings.

There are unique benefits of getting a physician mortgage like lower interest rates and not being required to carry private mortgage insurance through your lender which will save you money on your monthly mortgage payments. 

Here are some of the requirements for a physician mortgage in Hartford, CT:

  • You must carry one of the following medical licenses: (MR) Surgeon, (OR) Optometrist, (MD) Medical Doctor, (PHARMD) Doctor of Pharmacy, (RPH) Registered Pharmacist, (DC) Doctor of Chiropractic, (DO) Doctor of Osteopathic Medicine, (DDS) Doctor of Dental Surgery, (DMD) Doctor of Dental Medicine, (DPM) Doctor of Podiatric Medicine, or (DVM) Doctor of Veterinary Medicine
  • You must have an employment contract.
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Tampa, FL Physician Mortgage: What You Need to Know

Getting a physician mortgage in Tampa, FL, can be super advantageous for doctors and medical professionals. You have worked hard to earn your medical degree and are looking to build a successful career in Tampa, FL  Maybe you took a job at one of Tampa’s prestigious medical centers. You are looking to relocate for this job or buy a home for your family. Before you do, you will want to compare Tampa, Florida’s physician mortgage lenders.

Doctors are relocating to Tampa, FL or opening new practices due to the expansion of many medical centers and the lower cost of living.  Tampa General is one of the largest and most well-known hospitals in the region with a level I trauma center and is also a teaching hospital. AdventHealth Tampa is recognized for its cardiac care, cancer treatment, and orthopedics. St. Joseph’s Hospital, part of BayCare Health System, is another prominent healthcare facility in Tampa. Moffitt Cancer Center, a (NCI)-designated comprehensive cancer center is renowned for its expertise in cancer research, treatment, and patient care. …

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