Created with physician residents in mind
A mortgage specifically designed for you
If you plan to buy a home at any time during your residency, this is THE loan for you. No limits on experience. Due to the fact that you've embarked on your postgraduate training or residency journey, you have a unique borrower profile that often prevents you from obtaining a mortgage from a typical mortgage lender. You are likely to face several hurdles in obtaining a mortgage as a resident. We work with your individual circumstances and scenario to get you into your dream home. Our resident mortgage programs were developed for your unique situation and borrower profile. We'll work with your student loans, downpayment requirements, and help you get into your dream home.
According to the Association of American Medical Colleges, 75% of medical school graduates have debt averaging $190,694.00. This presents a problem to conventional mortgage lenders who base their underwriting guidelines on DTI or Debt to Income Ratios. However, our physician mortgage programs are custom tailored to physicians like you and we take your student loan debt into consideration so that it does not adversely affect you.
These special terms such as zero downpayment, student loan consideration, and no PMI are offered to all doctors from residents to attendings and more.
First United and Scott Wells
From the time you apply for your physician home mortgage loan, until the day you close and get the keys to your new home, our specially trained and experienced staff manages and oversees the entire loan process. Your loan officer, Scott Wells, has been specializing in physician lending since 2010. We proudly serve the Dallas, Houston, Austin, and San Antonio Metro Areas.
How's it work?
The mortgage process for physicians
Medical residents, fellows, practicing physicians, and dentists with employment contracts. US Citizens, Permanent Resident Aliens, and Non-Permanent Resident Aliens.
Mortgage Loan Approval100% financing up to $750,000 loan amount with no PMI. 95% financing up to $1,500,000 loan amount with no PMI. Single-family homes and townhomes allowed. Condominiums allowed but must meet warrantable guidelines per Fannie Mae
Close & Move InYour trusted loan officer Scott Wells working in tandem with your real estate agent will help you throughout your journey to homeownership and financing. We work hard to get you a quick and efficient close.
A "qualified borrower" is typically a medical resident, fellow or attending physician with a signed contract for employment.
- Physicians (MD, DO)
- Licensed Residents/Interns/Fellows in MD, DO programs.
- Dentists (DDS and DMD)
While we can facilitate a doctor mortgage nationwide, we typically deal with borrowers in the Dallas, Houston, San Antonio, and Austin metro areas.
We offer loan amounts up to 100% of the home value. This means you will not need a downpayment.
Typically contact start dates are within 90 days of the loan application, but we make the decision on a case by case basis.
No, as long as there is a signed employment contract in place with a start date of less than 90 days out.
Specialized Mortgage Guidelines
Physician-based Mortgages Benefits
Getting into your new home is just a click away
From the time you apply for your physician home mortgage loan, until the day you close and get the keys to your new home, our specially trained and experienced staff manages and oversees the entire loan process, schedule a free consultation today to get started.