If you’re contemplating a move to Ohio, either because of your residency program or starting your career in medicine, then a doctor home loan in Ohio can help make your move possible. Even with the challenges a physician faces with both their time and their budget, there are lenders who can help you make sure you’re making the best financial decision.
Almost 12 million people call Ohio home, making it one of the top 10 most populated states in the country, with no signs of growth slowing anytime soon. Physicians continue to make Ohio one of the most popular places to practice medicine, with over 42,000 doctors choosing to work in the Buckeye State. Ohio may be known for its love of football and the Rock and Roll Hall of Fame, but it’s also home to great hospitals and innovative healthcare solutions.
Recommended Lenders for Doctor Home Loans in Ohio
Mike began his mortgage career in 2001 and has been working exclusively with doctors for the last 9 years. He takes a consultative approach with his clients in the mortgage planning process. With his team of three assistants, Mike makes the process of buying a new home efficient and stress-free.
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.
With over 15 years experience in mortgage lending and many years specializing in physician loans, Darick Hensel draws on every previous client to help improve for the next.
He understands the nuances of physician contracts, relocations, and financial strategies. Married to a trauma surgeon, Darick values your time and need for expediency. Outside of helping new and experienced physicians with their mortgage needs, he loves his wife, 2 dogs, golfing, and traveling. He and his wife already have tickets to the 150th British Open! Get to know Darick too.
Choosing to live in Ohio means you’ll have lots of choices, from big cities to college towns, and everything in between. A physician mortgage loan is one way to make your homeownership dreams come true, no matter which town you choose to call home.
Working with a lender who specializes in physician mortgages can help you through the home-buying process, even with your unpredictable and demanding schedule. You can start by getting pre-qualified for a physician mortgage loan. This will not only help you plan your monthly budget with your new home, but it’ll show a seller how serious you are when you go to make an offer. There are several steps in the physician home loan journey, but there are plenty of lenders to help you along the way.
When you’re ready to secure your doctor home loan in Ohio, check out our list of preferred lenders for the area. They are ready to help you make the transition to homeownership as smooth as possible.
The Complete List of Lenders for Doctor Home Loans in Ohio
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. Contact Mike DeRaspe today!
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!
TCF Bank – TCF Bank has approximately 475 banking centers primarily located in Michigan, Illinois, and Minnesota with additional locations in Colorado, Ohio, South Dakota, and Wisconsin. They offer a doctor home loan designed to fit the unique needs of physicians, dentists, chiropractors, veterinarians, and more! No down payment for those who qualify (closing costs could apply). No private mortgage insurance is required for those who qualify. Their mortgage loan officers are experienced in working with medical professionals and are ready to guide them through the loan process for their purchase or refinance. Contact our recommended lender, Darick Hensel 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. Contact Jonathan C. Brozeck today!
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.
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.
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.
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.
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.
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.
First Financial Bank – First Financial Bank offers full-service banking in addition to multiple loan options. You can work with them to find a fixed-rate or an adjustable-rate loan option, FHA, construction and JUMBO loans. In addition to these multiple loan products, First Financial Bank offers a physician loan option. The physician loan program has several adjustable-rate loan options and flexible loan terms. Headquartered in Cincinnati, OH, First Financial Bank operates in over 150 locations across Ohio, Kentucky, Indiana, and Illinois.
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. They 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.
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.
Citizens Bank – Citizens Bank offers a special mortgage program for physicians and dentists through their doctor loan program. Their 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.
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.
First National Bank of Pennsylvania – Most physicians have unique banking needs. That’s why First National Bank of Pennsylvania has developed a mortgage program especially for physicians. FNB currently offers up to 100% financing with no PMI. Fixed and adjustable rate products are also available. In order to apply, you must hold an M.D., D.O., D.D.S., D.V.M. or D.M.D degree, but interns, fellows and residents are eligible. They operate in several states, including Washington D.C.
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.
TIAA Bank – TIAA Bank is a large, national bank headquartered in Jacksonville, FL. They operate in all 50 states and offer a variety of physician mortgage loan products. Their 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 Federal Lakewood – First Federal Lakewood is an independent bank headquartered in Ohio. They have several locations to serve you throughout the state of Ohio. In addition to the many different loan options such as FHA, fixed-rate, adjustable, bridge and construction loans, there is also a doctor loan program. Mortgages are available to medical doctors, residents, dentists, podiatrists, ophthalmologists and veterinarians. These loans feature special mortgage financing terms such as 100% financing. Plus, your student loan payments may be excluded from your debt to income calculation to make it easier to qualify for the loan.
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.
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.
Huntington Bank – Huntington Bank offers a doctor loan program for medical doctors (MD, DO, DDS, DVMM, or DMD). The Physicians Only Loan Program can help you secure up to $750,000 with no down payment options. You can borrow up to $2M wiith flexible down payment options. Huntington Bank offers other benefits too, such as no PMI and no prepayment penalty. You can choose between fixed or variable rate options for your physician mortgage loans.
NBT Bank – NBT is headquartered in New York and operates across several Northeastern states. The physician mortgage program features financing up to $850,000 for residents, fellows and practicing physicians. Depending on the amount of financing will determine which flexible down payment option you can choose.
Recommended Real Estate Agents In Ohio
Financial Residency has partnered with Dr. Moves to offer you a tailored home buying experience with agents that specialize in working with physicians in Ohio.
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