Doctor Home Loans in Minnesota
If you’ve been contemplating a doctor home loan in Minnesota, now is a great time to connect with a lender who can help you through the entire physician loan process. With over 18,000 physicians who call the Land of 10,000 Lakes home, your dream of homeownership in Minnesota could soon be a reality for you too.
Minnesota offers its 5.6 million residents an amazing lifestyle. Whether it’s the outdoor activities, the restaurants or the big city you crave, Minnesota has something for everyone. You might be surprised to learn it’s also the 14th largest state in square miles – leaving you plenty of room to spread out or giving you major metropolitan cities to choose for your home.
Recommended Lenders for Doctor Home Loans in Minnesota
“Pinch me. I must be dreaming!” is what one of Jonathan’s physician endorsers expressed after reflecting on his mortgage experience. Others state their experience allowed them to enjoy the process of buying a home. We’re optimistic you’d experience the same. But, there’s only one way to find out.
Contact Jonathan by visiting this link or call (916) 788-7982
Marc Evans has been in the mortgage industry north of 20 years. He believes banking is a personal commitment to helping people at every stage of their financial lives. Knowing people’s needs change, he would never waiver from providing his customers the best possible banking experience in the industry.
Contact Marc by visiting this link or call (920) 831-7721
Minnesota is more than lakes and big cities. For physicians, it offers a chance to practice in a state with innovative healthcare solutions for a changing medical landscape. Whether it’s your residency, opening a new practice or finally moving back home that brings you to Minnesota, a doctor home loan can make it possible.
Working with a lender who specializes in doctor home loans in Minnesota can be a major asset throughout the home-buying process. Getting pre-qualified for a doctor home loan in Minnesota will give you solid numbers as you begin your house-hunting. You’ll know what to expect in a monthly mortgage payment as you narrow down your housing choices. When you do make an offer, it’ll show the seller of the property that you are a serious buyer.
If you’re ready to get started finding the best doctor home loan in Minnesota, then you’ll find these lenders ready to help you move forward.
The Complete List of Lenders for Doctor Home Loans in Minnesota
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!
BMO Harris Bank – At BMO Harris Bank, they believe healthcare professionals spend their time helping others, especially when it comes to home buying. That’s why they offer the BMO Harris Physicians’ Mortgage Program. Open to residents, fellows and existing or newly licensed medical doctors, the program is designed to help eliminate many of the roadblocks to mortgage financing faced by physicians. Plus, you can get up to a $200 closing cost discount. BMO Harris offers flexible debt-to-income underwriting guidelines and no private mortgage insurance is required. Contact Marc Evans for more info today!
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.
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 100% financing with no PMI, with fixed or adjustable rate options. 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.
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 doctors, dentists and veterinarians featuring up to 100% financing for loans up to $750,000 (for primary residences). The physician loans have fewer restrictions than conventional mortgages and bases the lending decision on credit worthiness and future income potential.
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.
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.
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.
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.
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.
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.
Frandsen Bank– Frandsen Bank currently operates in locations throughout Minnesota, Wisconsin, and North Dakota. Frandsen Bank offers a loan for Professionals including physicians, dentists, veterinarians, pharmacists, optometrists and attorneys. Frandsen Bank offers 0%-10% down payment options, all ARMs. To start the physician loan process, you must have a 700 minimum credit score, but there are no employment start date restrictions. Additionally, student loans excluded from debt ratios.
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.
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.
Recommended Real Estate Agents In Minnesota
Financial Residency has partnered with Dr. Moves to offer you a tailored home buying experience with agents that specialize in working with physicians in Minnesota.
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