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June 24, 2025
Physician mortgages are a unique financial product designed specifically for medical professionals. These specialized loans offer several benefits that cater to the unique financial situations of doctors, dentists, and other healthcare providers. At Climate First Bank, we understand the importance of supporting our medical community, and physician mortgages are one way we do just that. In this guide, we'll explore the features of physician mortgages and how they can benefit medical professionals.
Climate First Bank’s physician mortgage program is specifically designed to meet the unique needs of medical professionals. Eligible applicants include Medical Doctors (MD, DO), Dental Surgeons specializing in oral surgery (OMS), Doctors of Podiatric Medicine (DPM), and Dentists (DDS, DMD). To qualify, applicants must be licensed to practice in the U.S., with their licenses in good standing and free from any limitations or suspensions. Additionally, borrowers in residency or fellowship programs to become an MD, DO, OMS, DPM, DDS, or DMD are also eligible, provided they can show evidence of employment. The program offers loan terms of 100% loan-to-value (LTV) with a 30-year fixed rate.
1. No Private Mortgage Insurance
One of the most significant benefits of Climate First Bank’s physician mortgage is the absence of mortgage insurance for most borrowers. Traditional loans often require private mortgage insurance (PMI) if the borrower puts down less than 20% of the home's purchase price. PMI can add a substantial cost to monthly mortgage payments. However, Climate First Bank’s physician mortgage typically waives this requirement, even with a lower down payment. This can result in significant savings for borrowers.
2. Flexible Down Payment Options
Climate First Bank’s physician mortgage offers a 100% loan-to-value program, meaning no down payment is required. This feature is particularly beneficial for medical professionals who may not have substantial savings. This flexibility helps medical professionals transition into homeownership sooner.
3. High Loan Amounts
Climate First Bank’s physician mortgage program also allows for financing higher loan amounts, up to $2,500,000. This is particularly advantageous for medical professionals looking to purchase more expensive homes, reflecting their future financial stability.
4. Residency and Fellowship Eligibility
Borrowers in residency or fellowship programs to become an MD, DO, OMS, DPM, DDS, or DMD are eligible, provided they can show evidence of employment. This eligibility ensures that even those in the early stages of their medical careers can access favorable mortgage terms and transition into homeownership smoothly.
At Climate First Bank, we are committed to supporting our community. Our physician mortgage programs are designed to provide the financial flexibility and support that doctors need to achieve their homeownership goals. With competitive rates, personalized service, and a deep understanding of the unique challenges faced by medical professionals, Climate First Bank is your trusted partner in securing a physician mortgage.
Read our blog for more reasons to join Climate First Bank!
In addition to physician mortgages, Climate First Bank offers a full-service portfolio of products to meet all your banking needs. Whether you're looking for personal banking, loan options, or business banking solutions, we have you covered. Our products include:
Climate First Bank NMLS #2169275. All loans subject to credit approval. Some restrictions apply. Subject to change without notice. Interest on the portion of the loan that exceeds the value of the dwelling is not tax deductible and the consumer should consult their tax advisor.
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