Based on your responses, we think you may be interested in the following loans:

We have physician loans for established physicians and dentists,² as well as residents, fellows, and new physicians³.

For established physicians and dentists²: Finance up to $1,000,000 with no down payment required when purchasing or up to $2 million with a low down payment.

For residents, fellows, and new physicians³: Finance up to $1,000,000 with no down payment required when purchasing a home.

Fixed rate mortgages are most often offered in 30-, 20-, 15- and 10-year terms.

A 30-year fixed rate mortgage is popular because monthly payments are lower since they are spread over a longer period of time. However, because of the longer term, you will pay more interest than you would with a shorter-term mortgage. Shorter terms allow borrowers to pay off their mortgage sooner, resulting in less interest paid overall.

There are many different types of ARMs¹, but the most common are 5/6, 7/6, and 10/6. The first number indicates how many years the initial fixed-rate period will last, and the second number determines how often the rate will change every year over the 30 year term of the loan. For example, a 5/6 ARM¹ has a fixed-rate for five years followed by an adjustment in the interest rate every six months.

An ARM¹ might be a great option for you if you’re planning to move or sell your home after a few years, are planning to repay your loan in a short amount of time or want a lower initial monthly payment and don’t mind a variable interest rate.

Step 1: What can I buy?

During this step, you will want to work with a mortgage professional to help you review the options available to you and what you can qualify for. Once this is done your Loan officer will provide you with a pre-approval letter to help you in your home shopping experience.

Step 2: Finding a Home

Now you will work with a  realtor who will help you to find a home that fits your need and is within your budget as shown in your preapproval. Once you've found a house you like your realtor will work with you to create an offer to give to the seller.

Step 3: Completing your Application

Once you have an accepted offer from a seller it's time to complete your mortgage application. Things like your credit may be pulled and paperwork is collected from you to confirm employment and income as required. Don’t worry, these are things you already have handy like pay stubs, tax forms, etc. Within 3 days of completing your application you will receive a Loan Estimate (LE) that will give you a complete and detailed breakdown of the costs associated with your loan.

Step 4: Bringing It Together

This step includes combining your application with the documents you have provided. We’ll review these items and may require additional paperwork depending on the type of mortgage. If an appraisal is required, it will be ordered during this stage.

Step 5: Reviewing the Facts

In this step, your application and supporting documents will be evaluated in detail. If necessary, we will verify your income and assets, and check the guidelines to make sure we have thoroughly completed the evaluation.

Step 6: Meeting the Criteria

Some applications may meet the initial loan criteria but still need a few more items to move it forward. If this is the case with your application, you’ll be hearing from us to explain what’s needed.

Step 7: Getting to the Finish Line

This is the final step in the mortgage process. You will be hearing from us about any remaining details so we can each make sure we have everything we need. Additionally, the title company will set up a meeting for you to come in and sign all required closing documents, so get your pen ready. You will be provided a Closing Disclosure in advance of your closing that, like the loan estimate you got at the beginning, breaks down all the associated costs and elements of your mortgage.

Step 8: Home Sweet Home

Congratulations! Once the title meeting is over, the process is complete and you’re ready to enjoy your new home.