Home Loans for Medical Professionals
Home Loans for Medical Professionals
If you’re a medical or dental professional buying a home, you may qualify for a mortgage designed for you.
Doctor and Dentist Loan Program
A doctor or dentist loan, also called a physician mortgage, is a home financing option for medical professionals. It considers earning potential while accounting for student loan debt.
Bell Bank offers a program for physicians and dentists that addresses unique financing needs and may provide alternatives to conventional mortgages.
Programs may be available to medical doctors (MD, DO), dentists (DDS, DMD), and other health care professionals.
Program Features
Doctor and dentist loan programs may offer:
- 5% down payment options
- Flexible consideration of student loan debt
- No private mortgage insurance
- Up to100% financing for primary residences
- Loan amounts up to $2 million
- 5/6, 7/6 or 10/6 adjustable-rate mortgage (ARM) options*
Eligible borrowers may qualify with a signed employment contract. Adjustable-rate mortgages, have a fixed rate for the first 5, 7 or 10 years, then may adjust and increase payments.
* May required Bell Bank Checking with ACH payment method for discounted rate. Bell Bank Checking ACH discounted rate includes a cancelation penalty of 1.00% of the original unpaid principal balance.
Doctor Loan vs. Conventional Mortgage
Compare doctor loan options with a conventional mortgage.
| Feature | Doctor/Dentist Loan | Conventional Mortgage |
|---|---|---|
| Down Payment | May offer low down payment options | Typically requires higher down payment for best terms |
| Student Loan Treatment | May use flexible guidelines | Standard debt-to-income calculations |
| Private Mortgage Insurance | May not be required in certain cases | Often required with low down payment |
| Loan Limits | May accommodate higher loan amounts | Subject to conforming loan limits Conforming loan amounts capped at $806,500 |
Subject to credit approval. Primary residences only. Not available in all markets. Must be licensed Medical Physician (MD), Doctor of Osteopathic Medicine (DO), or Dentist (DDS) employed by a hospital, physician group, or dental group. Adjustable-Rate Mortgage (ARM) products have a fixed interest rate for a set period of time and adjust periodically thereafter. At the end of the fixed-rate period, the interest rate and payments may increase. Program guidelines are subject to change without notice. Other restrictions apply. Escrows and full appraisal may be required.
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