Doctor Home Loans in Rhode Island

Doctor Home Loans in Rhode IslandMoving or refinancing can be a stressful process, but utilizing a doctor home loan in Rhode Island can help make the transition easier. If you want to join nearly 5,000 practicing physicians who call The Ocean State their home, your dream of home-ownership in Rhode Island could soon be a reality with a physician home loan.

Rhode Island offers its 1 million residents many different lifestyles. Whether you choose to live on the coast, near the bustling capital of Providence or the lovely town of Newport, you’re bound to find a beautiful place to call home here. Rhode Island may be the smallest state in the Union, but it’s also one of the most densely populated areas in the country.

Recommended Lenders for Doctor Home Loans in Rhode Island

US Bank physician loanJonathan Brozek, Mortgage Loan Officer | U.S. Bank

“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

TD Bank Physician LoansNeil Surgenor, Physician Loan Specialist | TD Bank, N.A. (NMLS ID 372700)

For years, Neil has been helping physicians, surgeons and dentists achieve their dreams of homeownership.  From start to finish, he can help guide you through the process.  Beginning with our mortgage comparison tool to determine your options, to painlessly uploading your documents digitally, Neil will be there to assist and guide you during the entire process.  Whether you’re a first-time homebuyer, looking to purchase a second home or purchase an investment property, TD Bank, N.A. has solutions designed for Doctors and an efficient process that makes getting a mortgage easier.

Connect with Neil by visiting this link or by phone (212) 933-9900 or email: Neil.Surgenor@TD.com.

 

Rhode Island offers more than rugged beaches and quaint colonial towns. It’s also home to world-class education and hospitals. Whether it’s your residency program, beginning your career as an attending or moving closer to your family that brings you to Rhode Island, a doctor home loan can make it possible.

Working with a lender who specializes in doctor home loans in Rhode Island can be a major asset to you throughout your home-buying journey. Getting pre-qualified for a doctor home loan in Rhode Island gives you solid numbers to work with as you begin your house-hunting process. Getting pre-qualified means you’ll fully understand your monthly mortgage obligation as you choose the place to call home. When you do finally make an offer to a seller, it will also show you’re a serious buyer. 

If you’re ready to find the best doctor home loan in Rhode Island, then one of these experienced lenders is ready to get started.

 

The Complete List of Lenders for Doctor Home Loans in Rhode Island

TD Bank – TD Bank offers a variety of physician mortgage loan products to licensed medical or dental residents and fellows with at least two years of completed residency. There are also programs for practicing physicians and self-employed doctors. Products offered include 0% down, 100% financing for loans up to $750,000, and 5% down, 95% financing for loans up to $1,250,000. TD Bank offers loans without any PMI and flexible rate options. TD Bank has over 1,200 branch locations and operates in multiple states on the East Coast. Contact Neil Surgenor today!

 

U.S. 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!

 

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. 

 

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.

 

Homestar Mortgage – Homestar Mortgage is an independent lender and broker based out of Providence, RI. The physician mortgage program includes a comprehensive list of benefits for the medical community. Physician mortgages include a 0%-3.5% down payment on a maximum $475,000 mortgage – and the down payment does not have to be the borrower’s funds. There are low fixed-rate mortgages that exclude student loan debt for qualifying purposes. The loan programs are for physicians with at least a 620 credit score and can show an executed contract. Homestar Mortgage can work with you to see if you might qualify for an $8,000 federal tax credit.

 

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.

 

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.

 

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. 

 

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. 

 

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.

 

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.

 

Washington Trust Mortgage – Washington Trust mortgage operates in the Northeast and has a variety of loan options for physicians and dentists. The doctor loan program includes 100% financing for loans up to $750,000, 95% LTV on loans from $750,000 to $1,250,000 and 90% LTV on loans from $1,250,000 to $2M. All of these financing terms are based on meeting credit score requirements. You can even use 100% of gifted funds for up to 5% of a down payment. Your closing costs can also be 100% seller paid or from a gift. The loans will also have the PMI excluded. 

 

Recommended Real Estate Agents In Rhode Island

Financial Residency has partnered with Dr. Moves to offer you a tailored home buying experience with agents that specialize in working with physicians in Rhode Island.

Moving to a different state? Click on the state you are moving to and get the best lenders in that state.

 

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