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Physician Mortgage Loans in Arizona

Compare current Arizona physician mortgage loans from multiple lenders. Get current interest rates and APRs for 30-year fixed, 15-year fixed and adjustable rate mortgage loans for doctors in Arizona in seconds.

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U.S. Mortgage Loan Rates

4/84/154/226/116/176/247/17/87/157/22
Current rates - July 22, 2021
2.78%30-Year Fixed
2.12%15-Year Fixed
2.49%5/1 ARM

Arizona Mortgage Loan Facts

With a booming economy and a diverse population of nearly 7 million people, Arizona offers physicians distinct value. Doctors here earn higher than average salaries, which is nicely compensated by the low cost of living. It is a friendly state with important community and family values, an important consideration when raising a family. An approximate 17,000 active physicians find this the perfect place to call home.

$225,600

Avarage
Home Value

96.5

Cost of Living Index
(22nd in the U.S.)

62.6%

Home-ownership
Rate

16,792

Number
of Doctors

Physician Mortgage Loans in Arizona

CompanyLoan Amounts For
Residents & Fellows
Loan Amounts For
Practicing Physicians
Minimum
Credit Score
States available in
States AvailableAL, AZ, CA, CO, FL, NV, NM, TN, TX
About

About BBVA Compass Bank
Headquartered in Birmingham, Alabama, BBVA Compass is the 30th largest bank in the United States. Its footprint is primarily in the southern U.S and has 672 branches spanning six states. BBVA Compass was listed among Money Magazine's "Best Banks in America" in 2016.

BBVA Compass Doctor Mortgage Program
BBVA Compass offers a physician loan program that allows borrowers to obtain up to $1.5 million in financing for new home purchases. Eligible properties include single-family, multi-family, and condo units.

Pros

  • 5% down up to $1.5 million
  • Both fixed and adjustable-rate options available
  • Can be used for both new purchases and refinancing existing homes

Cons

  • Not available in all states

Eligible Borrowers

  • Medical Doctor (MD)
  • Doctor of Dental Surgery (DDS)
  • Doctor of Dental Medicine (DMD)
  • Doctor of Osteopathy (DO)
  • Doctor of Optometry (OD)

Learn More: BBVA Compass Physician Loan Review

States AvailableAZ, FL, IL, IN, KS, MN, MO, WA, WI
About

About BMO Harris Bank
Headquartered in Chicago, Illinois, BMO Harris Bank is a subsidiary of BMO Financial Corporation. The bank has over $110 billion in assets and over 570 branches spanning 8 states.

BMO Physician Loan Program
The doctor mortgage loan program offered by BMO Harris is available in 9 states to physicians and dentists with a minimum FICO score of 700. No income history is required for this loan program and BMO can close the loan within 60 days of the start date for the new contract. Mortgage loans available include 10, 15, 20, & 30 year fixed rate or 5/1, 7/1, and 10/1 ARM loans. There is no PMI or Mortgage Insurance required.

Pros

  • 100% financing up to $750,000
  • Fixed and adjustable-rate mortgage options available
  • Close up to 60 days prior to starting employment
  • The physician loan program can be used for new purchases and no cash-out refinances

Cons

  • Not available in all states
  • Physicians that have been practicing for more than 10 years are limited to 90% financing
  • Reserves may be required and seller credit limitations may apply depending on the loan amount and down payment amount

Eligible Borrowers

  • Medical Doctor (MD)
  • Doctor of Dental Surgery (DDS)
  • Doctor of Dental Medicine (DMD)
  • Doctor of Osteopathy (DO)

Learn More: BMO Harris Bank Physician Loan Review

States AvailableAR, AZ, CO, KS, MO, NM, OK, TX
About

Based in Tulsa, OK, BOK Financial is a top 25 bank in the country with more than $35 billion in assets. Although it offers some lending services in all 50 states, BOK Financial Mortgage's Advanced Medical Professionals (AMP) program is only available in eight full-service banking markets.

Whether you are new to practice or a seasoned pro, BOK's AMP loan program provides innovative home financing solutions for select medical professionals. It allows small down payments, competitive pricing, and unique qualifying criteria on various loan products.

  • Eligible medical professionals include: MD, DO, DDS, DMD, Medical Residents, Medical Fellows, DNAP, CRNA.
  • Primary residence only.
  • Maximum loan amount: $650,000 (available to all eligible medical professionals - subject to collateral and credit requirements).
  • Maximum loan amount: $1,000,000 (MD, DO, DDS, DMD - subjects to collateral and credit requirements).
  • Minimum down payments as low as:

    • 3% for loans up to $650,000.00
    • 5% for loans up to $850,000.00
    • 10% for loans up to $1,000,000.00
  • No private mortgage insurance.
  • Can close 60 days prior to employment start date.
  • Purchase or refinances (no cash out).
  • Fixed and variable rate options.
  • Student loans deferred greater than 12 months from closing do factor into DTI ratio.
  • Discounted 0.25% interest rate option available to borrowers who have a qualifying BOKF checking/savings account and agree to make mortgage payment via ACH from that account.

Read our BOK Financial review.

States AvailableAK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
About

About Flagstar Bank
Flagstar Bank is a $16.9 billion savings and loan holding company headquartered in Troy, Michigan. Flagstar provides commercial, small business, and consumer banking services through 99 branches in the state. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 90 retail locations in 29 states, representing the combined retail branches of Flagstar and Opes Advisors mortgage division.

Flagstar Doctor Mortgage Program
Flagstar's doctor mortgage program offers no down payment financing up to $850,000 and up to $1.5 million with down payments based on loan amounts. The mortgage loan program is available in all 50 states for both new purchases and refinancing existing mortgage loans. Non-occupant co-borrowers are allowed.

Products available only on 5-1 and 7-1 adjustable rate mortgages; no fixed rates. Flagstar has a minimum credit score requirement of 710.

Pros

  • Available many types of healthcare professionals
  • Can be used for both new purchases and refinancing existing homes
  • Non-occupant co-borrowers are allowed on the loan
  • Can close up to 60 days prior to starting employment
  • No PMI required

Cons

  • Only adjustable rate mortgages available (no fixed rates)

Eligible Borrowers

  • Medical Resident (Educational License)
  • Medical Doctor (MD)
  • Doctor of Dental Surgery (DDS)
  • Doctor of Dental Medicine (DMD)
  • Doctor of Optometry (OD)
  • Doctor of Ophthalmology (MD)
  • Doctor of Podiatric Medicine (DPM)
  • Doctor of Osteopathy (DO)
  • Nurse Anesthetist
  • Nurse Practitioner
  • Clinical Nurse Specialist
  • Veterinarian

Learn More: Flagstar Bank Physician Loan Review

States AvailableHI, GA, FL, DC, DE, CT, CO, CA, AR, AZ, AK, AL
About

Here is a brief rundown of LoanDepot's guidelines as of 2021:

  • 95% loan to $1.5M with no mortgage insurance
  • 80% loan to $2M with no mortgage insurance
  • Credit score as low as 700 minimum
  • Low reserves required and may be 401k/retirement
  • Purchase or rate/term refinance
  • Fixed and ARM options, fixed only on 5% down
  • Available to MD, DO, DDS, DMD, OD, DPM, NP, others
  • Single Family or Condo’s allowed
  • May close within 2 months of new employment
  • May exclude student loans if deferred more than 12 months
  • Currently licensed in AZ, CA, CO, FL, HI, KS, MO, OK, OR, and WA; currently seeking licenses for over 10 more states.
  • Gifts allowed (including international), 5% personal funds minimum
  • 1099 income is accepted as long as 1 year of taxes showing similar income to qualifying

Learn More: LoanDepot Physician Loan Review

States AvailableWY, WI, WA, VA, UT, TX, TN, SD, SC, PA, OR, OK, OH, ND, NC, NM, NH, MT, MS, MN, MD, LA, KY, KS, IA, ID, FL, DC, DE, CA, AR, AZ, AK, AL
About

About NEO Home Loans
Based in Salt Lake City, the NEO Home Loans team is a division of Celebrity Home Loans that focuses on helping medical professionals avoid the landmines during the home buying process. The NEO Home Loans team has helped thousands of medical professionals secure mortgage loans nationwide.

NEO Home Loans Doctor Mortgage Program
NEO Home Loans offers medical loan programs that allow borrowers to obtain up to $1.5 million in financing for new home purchases. Eligible properties include single-family, multi-family, and condo units.

Pros

  • 100% financing up to $750k (not available in all states)
  • Both fixed and adjustable-rate options available
  • Can use gifted or borrowed funds for your down payment

Cons

  • 100% financing not available in all states

Eligible Borrowers

  • Medical Doctor (MD)
  • Doctor of Dental Surgery (DDS)
  • Doctor of Dental Medicine (DMD)
  • Doctor of Osteopathy (DO)
  • Doctor of Optometry (OD)
  • Physician Assistant (PA)
  • Certified Registered Nurse Anesthetist (CRNA)
States AvailableAZ, CO, IA, IL, IN, KS, KY, MI, MN, MO, MT, ND, NE, OH, OK, PA, SD, UT, WI, WV, WY
About

Detroit-based TCF Financial Corporation offers consumer and commercial banking, trust and wealth management, and specialty leasing and lending products and services to consumers, small businesses, and commercial clients. The premier Midwest bank has roughly 475 banking centers throughout Michigan, Illinois, and Minnesota, with additional locations in Colorado, Ohio, South Dakota, and Wisconsin.

For purchase and rate/term refinance of primary homes, TCF Bank's physician mortgage loan program currently offers 5, 7, and 10-year adjustable-rate loans, and 15 and 30-year fixed-rate loans with the following guidelines:

  • 100% financing up to $750K
  • 95% financing up to $1M
  • 90% financing up to $1.65M

Eligible medical professionals include:

  • Doctors of Medicine (MD)
  • Doctors of Osteopathy (DO)
  • Doctors of Dental Surgery (DDS)
  • Doctors of Dental Medicine (DMD)
  • Doctors of Chiropractic (DC)
  • Doctors of Veterinary Medicine (DVM)
  • Doctors of Pharmacy (PharmD)
  • Doctors of Osteopathic Medicine (OD)

Read our TCF Bank review.

States AvailableAL, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY
About

About TIAA Bank
Headquartered in Jacksonville, Florida, TIAA Bank was launched in 2018 following the merger of EverBank and TIAA Direct. Built on EverBank's banking model, TIAA Bank provides a full suite of financial services for consumer and commercial customers across all 50 states including deposit, residential and commercial lending products.

TIAA Bank Doctor Mortgage Program
TIAA Bank's doctor loan mortgage program is available to existing medical doctors including DOs, dentists, dental surgeons, and veterinarians who are actively practicing and are within 10 years of completing residency. Mortgage loans start at $200,000 and extend up to $1.5 million on single-family homes and up to $2 million on two-unit properties. This doctor loan program does not require PMI and deferred student loans are excluded from debt calculations. TIAA Bank allows closing up to 60 days prior to starting a new employment position.

Pros

  • Available to borrowers in all 50 states
  • Can be used for both new purchases and refinancing existing homes
  • Can close up to 60 days prior to starting new employment

Cons

  • No 100% financing program available
  • Borrowers that completed residency more than 10 years ago are not eligible for this doctor loan program

Eligible Borrowers

  • Medical Doctor (MD)
  • Doctor of Dental Surgery (DDS)
  • Doctor of Dental Medicine (DMD)
  • Doctor of Osteopathy (DO)
  • Doctor of Veterinary Medicine (DVM)

Learn More: TIAA Bank Physician Loan Review

States AvailableWY, WI, WV, WA, VA, VT, UT, TX, TN, SD, SC, RI, PA, OR, OK, OH, ND, NC, NM, NJ, NH, NV, NE, MT, MO, MS, MN, MI, MA, MD, ME, LA, KY, KS, IA, IN, IL, ID, FL, GA, DE, CT, CO, CA, AR, AZ, AL
About

UMB Financial Corporation (Nasdaq: UMBF) is a $21.5 billion financial services company headquartered in Kansas City, MO, and founded in 1913 - offering personal banking, commercial banking, healthcare services, and institutional banking, which includes services to mutual funds and alternative-investment entities and registered investment advisors.

UMB Bank, n.a., a subsidiary of UMB Financial Corporation, provides a comprehensive suite of banking products and services. The Mortgage Portfolio Professional Loan program is designed to lend to the doctorate professionals who are licensed in their profession.

Eligible borrowers include:

  • MD – Doctor of Medicine
  • DO – Doctor of Osteopathy
  • DDS – Doctor of Dental Surgery
  • DMD – Doctor of Medicine in Dentistry
  • OD – Doctor of Optometry
  • DC – Doctors of Chiropractic
  • PharmD – Doctor of Pharmacy
  • PhD – Doctorate
  • DVM – Doctor of Veterinarian Medicine
  • JD Doctor of Juris Prudence (Attorney)

Maximum LTV options:

  • Purchase: 100%; R/T Refinance: 95%; Loan Limits: $0 - $750,000
  • Purchase: 95%; R/T Refinance: 90%; Loan Limits: $750,001 - $1,250,000
  • Purchase: 90%; R/T Refinance: 85%; Loan Limits: $1,250,001 - $2,000,000

Current products:

  • 30-year fixed rate loan
  • 20-year fixed rate loan
  • 15-year fixed rate loan

Highlights:

  • Available in 47 states (except Alaska, Hawaii, New York, and D.C.)
  • Owner occcupied and second homes.
  • Single-family, condo, and townhomes (no multi-family properties)
  • Minimum FICO score is 700.
  • Max DTI is 43%.
  • No mortgage insurance
  • 3 months reserves required.
  • No gift funds allowed
  • Copy of license needed
  • Escrow for taxes and insurance is required.
  • Close 60 days prior to start date of new employment contract
  • Allows for seller contributions of 3% towards closing cost and prepaids.

Learn More: UMB Bank Physician Loan Review

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