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Which Lenders Offer Pharmacist Mortgage Loans?

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Do Pharmacists Qualify for Physician Mortgages?

Not all mortgage lenders with doctor loan programs extend their program to pharmacists. If you’re a pharmacist, this may seem unfair since you received a doctor of pharmacy degree (PharmD) and therefore are technically a doctor. However, each program is different. For example, some physician mortgage programs invite veterinarians to apply, and some don’t. Some physician mortgage programs allow optometrists to apply, and some don’t. So how are you supposed to know which lenders with doctor loan programs include pharmacists and which don’t?

The easy way is to use LeverageRx and input your information (location, designation, down payment, loan amount, etc.) and we will match you with the lenders who consider pharmacists eligible in your state. Where you live and work as a pharmacist is important. That’s because one lender’s doctor loan program may be available in [Texas](), but not in Florida — and vice versa.

Ready to see if you qualify for a physician mortgage as a pharmacist? Click here!

Is a Pharmacist Mortgage Better than a Conventional One?

If you can find a physician mortgage program in your state that allows pharmacists to apply, your next question should be: Are physician mortgages better than conventional mortgages? In short, yes. Physician mortgages require less savings, have forgiving DTI ratios and typically even charge less in interest rates. Reasons why a physician mortgage is better than a conventional or FHA mortgage:

Down Payment Not Required

Most lenders who offer a doctor mortgage offer residents and practicing doctors (and pharmacists if you qualify!) a 100% financing mortgage. That means you would not have to come up with the savings for a down payment.

Lenient Debt-to-Income Ratios

Physician mortgages recalculate the impact of student loan debt or dismiss it altogether. Getting a degree in pharmacology is not cheap, but if you find a physician mortgage, you don’t have to worry about your debt counting against you.

No Work History?

No work history? No problem. Given the training that doctors and pharmacists have to go through, lenders do not require work history to qualify for a physician mortgage.

No Private Mortgage Insurance (PMI)

Conventional mortgages require the borrower to purchase private mortgage insurance (PMI) if they put down less than 20%. The cost of PMI ranges between less than 1% – 5% of the loan, depending on the lender. That said, physician mortgages don’t require PMI!

Jumbo Mortgages Available

Doctor home loans are much larger than a conventional loan or FHA. A physician mortgage lender may enable you to buy homes for $1 million, $2 million, or more.

Lower Interest Rates

In general, the medical professionals who qualify for a physician mortgage will receive a lower rate on their mortgage than the general public. Lucky you!

See if you qualify for a physician mortgage today! Click here.

Which Pharmacology Degree You Have Matters

LeverageRx works with just about every physician mortgage lender in the country and we can safely say that if a pharmacist qualifies for a physician mortgage, it will be one of two degrees: RPh or PharmD. So what is the difference?

Registered Pharmacist (RPh)

A registered pharmacist is someone with a license to practice pharmacy. An RPh has received the appropriate degree, a Bachelor’s in Pharmacy, and is equipped to practice pharmacy at the local level. In other words, an RPh is fully qualified to measure and sell medicine, open a pharmacy and serve his or her community.

Doctor of Pharmacy (PharmD)

A PharmD is someone who received a Bachelor’s in Pharmacy and went on to receive a Doctorate in Pharmacy. The increase in PharmDs in America is relatively new (circa 2006). And is not popular since there is only slight nuance between a RPh and a PharmD. So, you could be working as a pharmacist in any one of the capacities below and qualify for a physician mortgage whether you are an RPh or PharmD (depends on the lender).

  • Academic Pharmacist
  • Clinical Pharmacy Specialist
  • Community Pharmacist
  • Compounding Pharmacist
  • Consultant Pharmacist
  • Drug Information Pharmacist
  • Home Health Pharmacist
  • Hospital Pharmacist
  • Industrial Pharmacist
  • Informatics Pharmacist
  • Locum Pharmacist
  • Managed Care Pharmacist
  • Military Pharmacist
  • Nuclear Pharmacist
  • Oncology Pharmacist
  • Regulatory-Affairs Pharmacist
  • Veterinary Pharmacist
  • Pharmacist Clinical Pathologist
  • Pharmacist Clinical Toxicologist

Which Lenders Extend Physician Mortgages to Pharmacists?

At the time of publishing, the following lenders with physician mortgage programs extend their loans to either RPh or PharmDs. However, it is worth checking back with LeverageRx since lenders modify and improve their doctor home loan programs on an annual basis.

  • S&T Bank – S&T allows PharmDs to qualify for their doctor loan program. The lender offer 95% financing up to $5MM.
  • Fulton Mortgage Company – Fulton Mortgage allows borrowers with a PharmD designation to qualify for their doctor home loan program. The bank offers 100% financing up to $1MM. Read more about Fulton Mortgage’s physician loan here.
  • West Coast Mortgage Company – West Coast Mortgage allows both registered pharmacists (RPh) and those with a Doctorate of Pharmacy (PharmD) to qualify for their physician mortgage program.
  • Frandsen Bank & Trust – Frandsen Bank & Trust is a lender with a doctor loan program that includes the most medical specialities. Whether you are an RPh or PharmD, you will be eligible. Learn more about Frandsen here.
  • First National Bank – First National extends its doctor loan program to PharmDs. The bank offers 100% financing up to $1MM. Learn more about First National Bank here.
  • Mercantile Bank – Mercantile Bank allows PharmDs to qualify for their physician mortgage program. The company offers 100% financing up to $850k to residents in training, and 100% financing up to $1.25MM if you’ve been practicing for at least one year.

Which Banks Offer Physician Mortgage Loans?

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17 companies match your search
States
BBB Rating
A.M. Best Rating
Corporate Structure
Company
Loan Amounts for Residents & Fellows
Loan Amounts for Practicing Physicians
Minimum Credit Score
States Available In
Bank of America
Loan Amounts for Residents & Fellows N/A
Loan Amounts for Practicing Physicians N/A
Minimum Credit Score N/A
States Available In Available in 55 states. (View States)
States Available
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Canal Zone
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Guam
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Puerto Rico
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virgin Islands
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
BBVA
Loan Amounts for Residents & Fellows N/A
Loan Amounts for Practicing Physicians N/A
Minimum Credit Score N/A
States Available In Available in 55 states. (View States)
States Available
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Canal Zone
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Guam
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Puerto Rico
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virgin Islands
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
BMO Harris Bank BMO
Loan Amounts for Residents & Fellows 1.5MM
Loan Amounts for Practicing Physicians 1.5MM
Minimum Credit Score 700
States Available In Available in 27 states. (View States)

BMO Harris offers doctor loans for primary residences, for purchase or refinance.

  • 100% financing up to $1MM for training or attending
  • 95% financing up to $1.5MM for training or attending
  • 90% financing up to $2MM
    Pros
  • No Income History required. With only proof of future income, you will be eligible for up to $750,000 with no down payment.
  • Closing cost discounts available. When you authorize BMO to automatically withdraw your mortgage payment each month, you will pay less in closing costs.
  • No Private Mortgage Insurance
  • Construction financing available
    Cons
  • Limited designations
  • Limited footprint, only the states listed above are eligible for a BMO physician loan
States Available
  • Alaska
  • Arizona
  • Colorado
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Michigan
  • Minnesota
  • Missouri
  • Montana
  • North Dakota
  • Oklahoma
  • Oregon
  • South Dakota
  • Tennessee
  • Utah
  • Washington
  • Wisconsin
  • Wyoming
  • Nebraska
  • New Mexico
  • Nevada
Fifth Third Bank Fifth Third Bank
Loan Amounts for Residents & Fellows 1MM
Loan Amounts for Practicing Physicians 1.5MM
Minimum Credit Score 700
States Available In Available in 11 states. (View States)

Fifth Third Bank offers residents and physicians a primary residence loan for either purchase or refinance:

  • 100% financing up to $750k (training or attending)
  • 95% financing up to $1MM (training or attending)
  • 95% financing up to $1.25MM (attending more than 1 year)
  • 90% financing up to $2MM (attending more than 2 years)
States Available
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Kentucky
  • Michigan
  • North Carolina
  • Ohio
  • South Carolina
  • Tennessee
  • West Virginia
First Horizon First Horizon
Loan Amounts for Residents & Fellows 2.5MM
Loan Amounts for Practicing Physicians 2.5MM
Minimum Credit Score 700
States Available In Available in 11 states. (View States)

First Horizon’s doctor loan program is available for primary residence, for purchase or refinance:

  • 100% financing up to $1.5MM (training or attending)
  • 95% financing up to $2MM (training or attending)
  • 90% financing up to $2.5MM (training or attending)
States Available
  • Alabama
  • Arkansas
  • Florida
  • Georgia
  • Louisiana
  • Mississippi
  • North Carolina
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
first_national_bank_veulqu-thumb First National
Loan Amounts for Residents & Fellows Up to 1.5MM
Loan Amounts for Practicing Physicians 1.5MM
Minimum Credit Score 700
States Available In Available in 11 states. (View States)

First National Bank offers residents and physicians financing on primary or secondary residences, for purchase or refinance:

  • 100% financing up to $1MM (training or attending)
  • 90% financing up to $1.5MM (training or attending)
States Available
  • Delaware
  • District of Columbia
  • Georgia
  • Maryland
  • North Carolina
  • Ohio
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Virginia
  • West Virginia
Frandsen bank and Trust Frandsen Bank & Trust
Loan Amounts for Residents & Fellows 2MM
Loan Amounts for Practicing Physicians 2MM
Minimum Credit Score 700
States Available In Available in 2 states. (View States)

Frandsen Bank & Trust’s doctor loan program is available for primary or secondary residences, for purchase, refinance or equity:

  • 95% financing up to $1.25MM (training or attending)
  • 90% financing up to $2MM (training or attending)
States Available
  • Minnesota
  • Wisconsin
Fulton Mortgage Company Fulton Mortgage Company
Loan Amounts for Residents & Fellows 1.25MM
Loan Amounts for Practicing Physicians 1.25MM
Minimum Credit Score 700
States Available In Available in 4 states. (View States)

Fulton Mortgage Company has a doctor loan program available for home purchase only on primary residences:

  • 100% financing up to $1MM (training or attending)
  • 95% financing up to $1.25MM (training or attending)
States Available
  • District of Columbia
  • Delaware
  • New Jersey
  • Pennsylvania
huntington Bank Huntington
Loan Amounts for Residents & Fellows 1.25MM
Loan Amounts for Practicing Physicians 2MM
Minimum Credit Score 700
States Available In Available in 42 states. (View States)

Huntington Bank’s doctor loan program is available for primary residences, for purchase or refinance:

  • 100% financing up to $1MM (training or attending)
  • 95% financing up to $1.25MM (training or attending)
  • 90% financing up to $2MM (attending)
States Available
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Missouri
  • Montana
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Utah
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
Key Bank Logo Key Bank
Loan Amounts for Residents & Fellows 3.5MM
Loan Amounts for Practicing Physicians 3.5MM
Minimum Credit Score Not available
States Available In Available in 23 states. (View States)

KeyBank’s doctor loan program is available for primary or secondary residences, for purchase or refinance. For residents or attending physicians alike:

  • 100% financing up to $1MM
  • 95% financing up to $1.5MM
  • 85% financing up to $2MM

Geographic restrictions may apply.

States Available
  • Alaska
  • Arizona
  • Colorado
  • Connecticut
  • Hawaii
  • Idaho
  • Indiana
  • Maine
  • Massachusetts
  • Michigan
  • Montana
  • Nevada
  • New York
  • Ohio
  • Oregon
  • Pennsylvania
  • Rhode Island
  • Tennessee
  • Utah
  • Vermont
  • Washington
  • Wyoming
  • South Carolina
Level One Bank Level One Bank
Loan Amounts for Residents & Fellows 2MM
Loan Amounts for Practicing Physicians 2MM
Minimum Credit Score 700
States Available In Available in 1 state. (View State)

Level One Bank’s doctor loan program is available for primary residences, for purchase or refinance:

  • 100% financing up to $500k (training)
  • 100% financing up to $1MM (attending 1+ year)
  • 85% financing up to $2MM (training or attending)
States Available
  • Michigan
Mercantile Bank Mercantile Bank
Loan Amounts for Residents & Fellows 100% Financing Options
Loan Amounts for Practicing Physicians 100% Financing Options
Minimum Credit Score Call Lender
States Available In Available in 4 states. (View States)

Mercantile Bank’s doctor loan program is for primary residences, for purchase or refinance:

  • 100% financing options for residents & fellows
  • 100% financing options with loan amounts up to $2MM for practicing physicians

Equal Housing Lender

Member FDIC

States Available
  • Indiana
  • Kentucky
  • Michigan
  • Ohio
Regions Regions
Loan Amounts for Residents & Fellows 1MM
Loan Amounts for Practicing Physicians 1MM
Minimum Credit Score 700
States Available In Available in 14 states. (View States)

Regions’ doctor loan program is available for primary residences, for purchase or refinance:

  • 100% Financing up to $750k (training or attending)
  • 95% financing up to $1MM (training or attending)
States Available
  • Alabama
  • Arkansas
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Iowa
  • Kentucky
  • Mississippi
  • Missouri
  • North Carolina
  • South Carolina
  • Tennessee
  • Texas
S&T Bank S&T Bank
Loan Amounts for Residents & Fellows 5MM
Loan Amounts for Practicing Physicians 5MM
Minimum Credit Score 700
States Available In Available in 10 states. (View States)

S&T Bank’s doctor loan program is available for primary residences, for purchase or refinance:

  • 95% financing up to $5MM (training or attending)
States Available
  • Delaware
  • Indiana
  • Kentucky
  • Maryland
  • Michigan
  • New Jersey
  • Ohio
  • Pennsylvania
  • Virginia
  • West Virginia
TD Bank Logo TD Bank
Loan Amounts for Residents & Fellows 1.5MM
Loan Amounts for Practicing Physicians 1.5MM
Minimum Credit Score N/A
States Available In Available in 16 states. (View States)

TD Bank’s doctor loan program is available for primary residences, for home purchase only:

  • 100% financing up to $750k (training or attending)
  • 95% financing up to $1.25MM (training or attending)
  • 90% financing up to $1.5MM (training or attending)
States Available
  • Connecticut
  • District of Columbia
  • Delaware
  • Florida
  • Massachusetts
  • Maryland
  • Maine
  • North Carolina
  • New Hampshire
  • New Jersey
  • New York
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Virginia
  • Vermont
truistbank_bzftmn-thumb Truist
Loan Amounts for Residents & Fellows 1.5MM
Loan Amounts for Practicing Physicians 1.5MM
Minimum Credit Score 700
States Available In Available in 11 states. (View States)

Truist’s doctor loan program is available for primary residences, for purchase or refinance.

For training or attending physicians with less than 10 years experience:

  • 100% financing up to $750k
  • 5% down up to $1MM
  • 10% down up to $1.5MM

**if you have been attending for more than 10 years but less than 15, Truist requires a 10% down payment

States Available
  • Alabama
  • Arkansas
  • California
  • Connecticut
  • District of Columbia
  • Delaware
  • Florida
  • Georgia
  • Mississippi
  • Tennessee
  • Virginia
US Bank
Loan Amounts for Residents & Fellows N/A
Loan Amounts for Practicing Physicians N/A
Minimum Credit Score N/A
States Available In Available in 55 states. (View States)
States Available
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Canal Zone
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Guam
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Puerto Rico
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virgin Islands
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
No companies match your search.