If you’ve been considering a doctor home loan in Colorado, getting connected with a knowledgeable lender can help you through the entire physician loan process. There are over 14,000 physicians who call The Centennial State their home – and your own dream of home ownership is possible with a physician home loan.
Colorado offers its 5.7 million residents a place to live surrounded by the natural beauty of mountains, rivers, canyons and forests. There are plenty of opportunities to live near big cities such as Denver, Boulder or Colorado Springs, or you can experience more rural living. Whether it’s your residency, opening a new practice or simply moving back home that brings you to Colorado, a doctor home loan can make it possible.
Recommended Lenders for Doctor Home Loans in Colorado
Whether it’s your first home, a refinancing project or looking for the next home upgrade, Doug is focused on making a real and lasting difference. That’s why he takes the time to understand each of his clients’ unique home buying needs (as he has with my very own physician family).
Contact Doug by visiting this link.
Colorado is more than skiing, sunshine and nature. It’s also a place of great opportunity for those practicing medicine. Colorado is also home to quality health care options and innovative medical solutions for both physicians and residents of the state.
Choosing to work with a lender who specializes in doctor home loans in Colorado can be a vital asset throughout your home-buying process. Getting pre-qualified for a doctor home loan in Colorado will give you solid numbers to work with as you begin your house-hunting journey. You’ll know what to expect with your monthly mortgage payment as you maneuver through your housing choices. When you finally make an offer, being pre-qualified will show the seller how serious of a buyer you are.
If you’re ready to get started finding the best doctor home loan in Colorado, then you’ll find these preferred lenders ready to help you move forward with the loan process.
The Complete List of Lenders for Doctor Home Loans in Colorado
UMB Bank – UMB provides a variety of mortgage products and options to fit your specific needs. And, frankly, they believe applying for a home loan doesn’t have to be complicated. In general, a lender will be looking for information related to a physician’s income, account balances, monthly expenses, debt totals and residence history. Based on that financial history and current life stage, they may need to gather additional information. Your home loan officer will help you through that process during the application phase. With the help of professionals and a clear sense of each step, your home buying experience can be simple and stress-free. Contact Doug Crouse today!
US Bank – U.S. Bank is a leader in the mortgage industry. Many of their customers have said they would recommend them in the future. They offer loans that meet almost every mortgage need. You may be eligible for the U.S. Bank Customer Credit with a new or existing U.S. Bank Personal Checking Package, or with an existing first mortgage with U.S. Bank. Take 0.25% of the loan amount and deduct it from the closing costs, up to a maximum of $1,000. At U.S. Bank, they know that your home is one of the biggest investments you’ll ever make. And whether you’re looking for a new mortgage loan, a mortgage refinance or a home equity loan, you want a partner you can trust.
Union Bank – Union Bank has a fantastic physician home loan that includes some of the best rates in the nation. Key features include: 10% down to $1.25MM loan amount, they can close up to 6 months from start date of new contract (if exiting residency or fellowship). Your down payment, reserves, and closing costs can be gifted from family with no seasoning requirements (a HUGE benefit). There is no Mortgage Insurance or PMI and you can receive a lender credit for 0.25% of the loan amount up to $1,000 for opening a platinum checking account.
Bank of America – Get started with the Digital Mortgage Experience with Bank of America. Preferred Rewards clients may qualify for a reduction of $200-$600 in the mortgage origination fee (based on your eligible balances at the time of application). Some of the home loan products they offer include fixed-rate mortgages, adjustable-rate mortgages, FHAs, and VA loans. Already pre-approved with Bank of America? View your pre qualification letter, or contact a lending officer about taking the next steps towards home financing.
BOK Financial – BOK financial offers several mortgage products for a physician’s unique mortgage needs. BOK was founded in Tulsa, OK but now has several locations across AR, AZ, CO, KS, MO, NM, OK and TX. Residents and fellows can qualify for physician loans up to $650,000, while practicing physicians are eligible for loans up to $1M. BOK financial also offers down payment options as low as 3% on eligible physician loans.
KeyBank Mortgage – KeyBank Mortgage offers several options for your unique physician mortgage needs. Whether you are purchasing your first home or looking for cash-out or rate/term refinance, KeyBank can personalize a program for you. They offer up to 5% down up to $1,000,000; 10% down payment up to $1,500,000. 15% down up to $2,000,000. Max loan size $3,500,000. NO PMI. NO Prepayment Penalty. Fixed rate and variable rate mortgages available. Loan options available for purchase, as well as rate/term and cash-out refinances. Physician mortgage loans are available for both your primary residence and second homes, as well as single-family houses and condos. KeyBank has branches in numerous states, with over 17,000 employees throughout the 1000+ branches.
First National Bank of Omaha – First National Bank of Omaha offers numerous choices for physicians and their mortgage needs. FNBO operates in Nebraska, Colorado, Iowa, Illinois, Kansas, South Dakota and Texas. Physician mortgage loans with FNBO require a 3% down payment for loans up to $850,000 and PMI. If you are an FNBO checking account holder, you will receive up to $400 off your mortgage closing costs. Contact FNBO today for full program details on their physician mortgage loans.
PhysicianLoans – As the name suggests. PhysicianLoans is focused solely on providing mortgage solutions to physicians. They are based in Columbus, Ohio and licensed in several states, offering both traditional branches and online service. PhysicianLoans will help you secure a loan with 100% financing, without any money down. You will also find options without PMI or any prepayment penalties. PhysicianLoans features true loans for physicians with special underwriting.
LoanDepot – LoanDepot offers innovative solutions for your physician home loan needs. Working with LoanDepot means you are working with a national consumer lender. They are headquartered in Southern California and employ 6,400 team members across the country. This also includes 2,000+ licensed loan officers who hold more than 10,000 licenses. The company operates 150+ local loan locations nationwide.
SoFi – SoFi is known for refinancing choices, but physicians might not be aware of the mortgage options available. Although the mortgage option isn’t limited to only physicians, it is targeted towards highly-educated individuals. One alternative mortgage to consider includes a 10% down for up to $3M in financing. There are also fixed rate and ARM options, without any hidden fees for prepayment penalties.
Laurel Road – Laurel Road is a digital lender that is owned by KeyBank who uses innovative technological and digital strategies to help you secure lending. The physician mortgage program with Laurel Road is a home loan tailored specifically to interns, residents, fellows, doctors, clinical professors, researchers, or managing physicians with a current license and a degree of Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), or Doctor of Podiatric Medicine (DPM). Their product features up to 95% financing for loans up to $750,000 (for primary residences). Physician loans have fewer restrictions than conventional mortgages and bases the lending decision on creditworthiness and future income potential.
Revolution Mortgage – Revolution Mortgage has 21 branch locations with over 105 mortgage loan officers nationwide. Contact Revolution Mortgage today for complete details on their physician mortgage loan program or get started with the process through their online portal.
TIAA Bank – TIAA Bank is a large,national bank headquartered in Jacksonville, FL. TIAA Bank operates in all 50 states and offers a variety of physician mortgage loan products. TIAA Bank’s doctor loan mortgage program is only available to existing medical doctors (and DO’s, veterinarians, dentists and dental surgeons) who are actively practicing and have completed residency in the past 10 years. TIAA Bank offers loan amounts up to $2M and without any PMI. A down payment is required and you must start employment within 60 days of the loan closing.
Willow Bend Mortgage – Willow Bend Mortgage has multiple loan options to suit your financial needs. Designed for physicians, dentists, and veterinarians, there are many benefits to the medical loan program. You can utilize terms such as a 5% down payment for loans up to $1M, 10% down up to $1.5M, or 15% down up to $2M – all without PMI. There is also a 0% VA loan program for vets and active military personnel. You can inquire about the 3% down option (but with PMI) for smaller loans. The loans can include either a fixed or adjustable rate.
Fairway Independent Mortgage – Fairway offers borrowers the options of fixed-rate conventional loans and adjustable-rate mortgages. Prospective borrowers can apply for a loan with Fairway Independent Mortgage online, with the closing process taking place in person. Fairway has grown into a national independent brokerage network with more than 7,000 employees — including more than 3,000 loan officers — in over 500 branches.
BBVA Compass – BBVA operates in 9 states and is headquartered in Birmingham, AL. The BBVA physician mortgage program offers benefits such as low down-payment options, expanded loan-to-value ratios, programs with up to 100% loan financing and loan amounts available up to $1,750,00. There is also no requirement for PMI. BBVA offers physician mortgages to medical residents and practicing physicians.
Cadence Bank – Cadence Bank offers a variety of mortgage programs designed to address the unique needs of physicians and financing. The physician mortgage program allows mortgages to be obtained with up to a 100% loan-to-value (LTV) ratio. Physicians can qualify for a mortgage on a home valued up to $1.5M without any down payment. These loans are available without PMI. The wide range of mortgage options include fixed-rate and adjustable-rate mortgages and 5/1 ARMs. Cadence Bank has almost 100 locations which operate in the states of Colorado, Florida, Georgia, North Carolina and Texas.
Citizens Bank – Citizens Bank offers a special mortgage program for physicians and dentists through their doctor loan program. The Citizens Bank Doctor Loan is available for purchases and limited cash‑out refinances of primary residence. A few highlighted features of the program include up to 95% financing, no mortgage insurance, and your choice of a fixed-rate or adjustable-rate mortgage. Headquartered in Providence, RI, Citizens Bank has over 1,200 locations across the country.
Flagstar Bank – Flagstar bank offers a Professional Loan series available to physicians, dentists, attorneys and other high-income professionals. Features of the Flagstar Bank Professional Loan includes financing for loan amounts up to $1.5M. There are also low or no down payment options with adjustable rates. You will not have to pay PMI for the loans. You can also use these benefits for a purchase or refinance for your primary residence only.
Chemical Bank – Chemical Bank has 500 branches primarily located in Illinois, Michigan and Minnesota. There are additional locations in Arizona, Colorado, Indiana, Ohio, South Dakota and Wisconsin and operates in partnership with several other programs across the country. Chemical Bank offers financing for Residents, Fellows and Practicing Physicians in amounts up to $3M. Depending on the mortgage product, physicians may qualify for up to 100% financing, including the purchase of condos.
Midland States Bank – Midland States offers a comprehensive program for physician loans. Midland States Bank offers maximum loans up to $1.5M without any money down. You won’t have to pay any PMI either. There are traditional and adjustable rates and terms for your consideration. If you have a minimum credit score of 720, then you can begin the qualification process for a physician loan with Midland Bank.
Recommended Real Estate Agents In Colorado
Financial Residency has partnered with Dr. Moves to offer you a tailored home buying experience with agents that specialize in working with physicians in Colorado.
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