If purchasing or refinancing a doctor home loan in Georgia is on your to-do list, then keep reading for a guide to lenders ready to work with you. With over 22,000 physicians calling Georgia home, you’ll find several lenders who can help you with the doctor home loan process in Georgia.
Georgia’s growth has been fueled by people moving from all over the country to the Peach State. The state has over 10.5 million residents, making it within the Top 10 of most populated states in the country. Georgia might be known for Coca-Cola, pecans, and peanuts – but it’s also known for amazing schools and universities, innovative healthcare, and cutting-edge medical research.
Recommended Lenders for Doctor Home Loans in Georgia
Mike Fitzmeyer of SunTrust (now Truist) understands the mortgage business. He is a seasoned professional with over 28 years of experience with a specific focus on Doctor Mortgage financing. Mike understands the needs of the Physician community and will tailor a mortgage solution for each client’s individual needs and financial plan. Mike and SunTrust (now Truist) have tremendous Doctor Mortgage experience and have flexibility in dealing with different situations in order to customize a mortgage solution for each client.
Contact Mike today to get the best service for your next home purchase or refinance needs.
Regions offers 100% financing for loans up to $750,000 and 95% financing for loans up to $1,000,000. Medical physicians, such as existing medical doctors and fellows, residents, and designations like DMDs/DDS, and DOs qualify to apply. Mortgages are available for purchase and refinances along with fixed rates or adjustable rates. There is no private mortgage insurance requirement and you can close your loan 60 days before you start your job. If that isn’t enough, consider that they also don’t count your student loan debt towards your DTI.
Connect with a Financial Residency vetted representative at Regions by email here or by phone at 267-295-2753.
Whether you already call Georgia home or are making a move for a job, you’ll have lots of choices in housing in Atlanta or other major cities, on the coast, or in the mountains. Using a doctor home loan can make the home-buying process as smooth as possible, no matter which part you choose to live within.
Working with a lender who specializes in doctor home loans in Georgia can help you throughout your home-buying process. If you need help with the pre-qualification process or the loan application, a physician mortgage lender will be there to guide you. You can also go through the pre-qualification process, which will get you ready to choose a home loan in Georgia and show the sellers you’re a serious buyer.
If you’re ready for more information on a doctor loans, be sure to check out our list of lenders. They’ll be ready to answer your questions and get you closer to your new home.
The Complete List of Lenders for Doctor Home Loans in Georgia
SunTrust (now TRUIST) – The doctor home loan program from SunTrust Bank (now Truist) is available to MDs, DOs, DDS’, and DMDs that are currently in residency, and practicing professionals that have completed their training within the last 10 years. Residents and fellows are eligible for a SunTrust physician loan up to $750,000 with no down payment at 100% financing! Meanwhile, those within ten years of residency completion are eligible for higher physician loan amounts up to $1,000,000 with 95% financing and up to $1,500,000 with 89.99% financing! Contact Mike Fitzmeyer today if you have questions specific to your upcoming home purchase!
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. Contact who we trust, Jonathan C. Brozek today!
Synovus – Synovus Bank was founded in Georgia and now operates across the Southeast. There are several locations throughout Georgia, Florida, Tennessee, South Carolina and Alabama. The physician loan program at Synovus is for licensed physicians, residents, fellows and interns. You must be an M.D., D.O., D.M.D., D.D.S., or D.P.M. to qualify. With Synovus, you can receive 100% financing for loans up to $750,000, and no PMI is necessary. There are both fixed-rate and ARM options products available for your unique financial needs. Contact Paul Rainer for more information!
Fifth Third Bank – The doctor and dentist loan programs at Fifth Third Bank offer medical practitioners with simple solutions to meet their home financing needs. Both new and established doctors can get fixed and adjustable rate mortgage loans to purchase or refinance. What’s more is that no private mortgage insurance is required. Eligible borrowers include: Medical Doctors (MDs), Doctors of Osteopathy (DOs), Doctors of Dental Medicine (DMDs), Doctors of Dental Surgery (DDSs), and Doctors of Podiatric Medicine (DPMs). New physicians, interns, residents and fellows (those who have practiced in less than 1 year) can get up to $1 million with a low down payment, or $750,000 with no down payment.
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 doctor home 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.
First Citizens Bank – First Citizens Bank is headquartered in Raleigh, NC and operates in several states throughout the country. Physician mortgages are available to medical residents, interns, fellows, and practicing physicians. There is no limit on years in practice for established physicians. Private Mortgage Insurance is not required for physician loans. There are several options available including fixed-rate and ARMs. You may be eligible for 100% financing up to $750,000; 95% up to $1M; 90% up to $1,250,000, and 85% up to $1.5M. There are also options for second homes, construction (permanent and renovation) loans.
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.
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.
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.
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.
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.
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.
IberiaBank – IberiaBank offers several mortgage solutions for borrowers. Physician loans are offered to those both residents, fellows and practicing physicians. Doctors are eligible to borrow up to $1M with no money down. Mortgage loans are offered with options including 5/1 ARM, 7/1 ARM and 30 year fixed – all with no mortgage insurance. Iberia Bank is headquartered in Louisiana and is available in several states.
Regions Bank – Regions Bank can help borrowers finance a loan with no down payment options for loans up to $750,000 or a 5% down option for those who need up to $1M. In addition, PMI will be excluded. Regions bank will also exclude certain student loan debt when calculating your debt-to-income ratio.
Synovus – Synovus Bank was founded in Georgia and now operates across the Southeast. There are several locations throughout Georgia, Florida, Tennessee, South Carolina and Alabama. The physician loan program at Synovus is for licensed physicians, residents, fellows and interns. You must be an M.D., D.O., D.M.D., D.D.S., or D.P.M. to qualify. With Synovus, you can receive 100% financing for loans up to $750,000, and no PMI is necessary. There are both fixed-rate and ARM options products available for your unique financial needs.
CenterState Bank – CenterState Bank offers multiple solutions to physician’s financing needs. For primary residences only, you can enjoy benefits such as loans up to $417,000 with 100% financing. Loans from $417,001 to $1M will have up to 95% financing and loans from $1,000,001 to $2,500,000 will need 90% Financing. CenterState Bank is based out of central Florida and has 39 branches throughout Florida for your banking needs but is licensed for mortgages in Alabama, Georgia and Florida.
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.
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.
Recommended Real Estate Agents In Georgia
Financial Residency has partnered with Dr. Moves to offer you a tailored home buying experience with agents that specialize in working with physicians in Georgia.
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