If you have a BOK Financial checking or savings account and use it to make your payments to the loan, you could be eligible for a 0.25% discount on your mortgage interest rate. Call today. Their loan products boast up to 100% financing with no PMI and no prepayment penalty. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Loans are distributed in one lump sum, and amounts start at $2,500. It offers a BMO Physician Loan Program to doctors and dentists with a FICO score of 700 or more. One advantage is the $500 welcome bonus. This makes it a hybrid mortgage because it combines features from an adjustable-rate mortgage (ARM) and a fixed mortgage. There’s a wide range of loan programs available, including an ARM 7/1, 10/1, and 15/1. According to the Association of American Medical Colleges, the average doctor in the US has a total debt worth an astounding $190,694. This communication is directed to properties in those states. Compare rates with LoanDepot today. You need a minimum. There are also low down-payment options and no need for PMI. However, condominiums require down-payments. The loan, therefore, isn’t suitable for everyone. As an established bank with 672 branches in the USA, BBVA is a name you can trust. Find contact's direct phone number, email address, work history, and more. Although the bank doesn’t offer a specific mortgage loan for physicians, it does provide a Mortgage Portfolio Professional Loan program for various doctorate professionals licensed in their career, which includes medical doctors. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Synovus Bank auto loan rates in National - US. You can also choose between a 5/1 and 7/1 ARM and a 30-year fixed rate option, and there’s also the chance to obtain a construction loan. You can loan up to $650,000 – or $1,000,000,000 for specific medical professionals only – with down payments as low as 3%. Whether it’s time to purchase a new family car or truck, or you’re finally ready to take the leap on that RV or motorcycle, we have a variety of loan terms available to help you pay for your new set of wheels. The term (duration) of the loan is expressed as a number of months. The main reason to take out a home equity loan is that it offers a cheaper way of borrowing cash than an unsecured personal loan. Bankers Healthcare Group is a trusted lender to tens of thousands of healthcare professionals, including physician assistants. However, it does provide a range of mortgage options: fixed-rate mortgage, ARMs, jumbo mortgages, DreaMaker (with low down payments, and reduced PMI options for those with low-to-moderate income), FHA mortgages (a loan insured by the government), and a Veterans Affair loan. Another difference is that conventional loans count student debt within the debt-to-income ratio, which means it’s easier to get approved as long as you have a good credit score. Various doctor loan providers let you access as much as 100% financing without private mortgage insurance (PMI), which is normally charged to anyone who can’t afford a down-payment of 20% or more on their mortgage. You can choose between 10/1 ARM, 15 year fixed-rate, and 30-year fixed-rate programs. You can loan up to $750,000 with no down payment or up to $1.5 million with flexible down payments. To apply, you also need a payroll deposit with an auto-debit from a Horizon bank account, which is a significant limitation. The Physician Loans Program, The Doctor Loan, offers 0% Down. You can choose between a fixed or ARM loan, and there are mortgage refinancing options available for new physicians. BankMD is a digital-only offshoot of TransPecos Banks focused on the niche of medical professionals in Texas, thus combining 100 years of experience with a specialized product. © 2021 Synovus Financial Corp. All rights reserved. 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