Gin Albanese | Luxury Residential & Commercial Real Estate | Gin.Albanese@SothebysRealty.com
Medical professionals may be eligible for a mortgage up to $750,000 without a down payment or private mortgage insurance needed.
PhysicianLoans, an Ohio-based mortgage lender offers “Doctor Loan” to medical doctors, dentists, and veterinarians. The company lends in 18 states, including Georgia, Michigan, Minnesota, Pennsylvania, Ohio, Texas, and Wisconsin, among others.
“Today’s young doctors would like to both pay down their debt and buy a home,” says Tal Frank, PhysicianLoans president. “While a post-residency doctor making six figures has the cash flow for both, they do not yet have the down payment required by a traditional bank.”
“Doctors completing their training now have to pay more for a home than they did five years ago, which would translate to an even higher down payment with traditional banks,” Frank added. PhysicianLoans has offered zero-down loans for doctors previously but increasing the loan amount to $750,000 helping more homes in reach for new doctors who recently completed training.