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Physician Mortgage Loans in Idaho

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How to Obtain a Physician Mortgage in Idaho

To obtain a physician mortgage in Idaho, it is important to start by comparing lenders that operate specifically in Idaho and offer physician mortgage programs. It is highly recommended that you work with a mortgage broker who specializes in physician mortgage programs in order to ensure you are working with an experienced lender. A mortgage broker will match you up with the best physician mortgage lenders so that you can compare rates, terms, and down payment options available in the state.

Not all brokers have extensive knowledge of physician mortgage loan programs, so finding one with expertise in this area is crucial. LeverageRx can assist you in finding lenders specifically catering to physicians and healthcare providers in Idaho. 

Once you have chosen a lender, you will need to complete and submit a loan application. Be prepared to provide supporting documentation, such as proof of employment, educational background, certifications, or licensing as a healthcare professional.

Where to Find a Physician Loan in Idaho

When looking for a physician loan in Idaho, it is essential to focus on lenders and programs available within the state. This ensures that you are dealing with lenders who understand the local market and comply with state-specific regulations. Keep in mind that loan programs can vary from one state to another, so the options available in Idaho may differ from those in other states.

Here are seven of the best lenders who offer physician mortgage loans in Idaho.

 

BMO

To address the unique financing challenges faced by medical professionals in Idaho, BMO offers a specialized physician loan program. This program is designed to help doctors overcome obstacles to homeownership, such as high levels of student loan debt and limited savings for a conventional down payment.

Here are the key features of BMO physician loans in Idaho:

  • Up to 95% financing for loans up to $1.5 million
  • Up to 90% financing for loans up to $2 million
  • For primary residences only
  • Available for purchase or refinance
  • Construction financing is also available
  • Eligible designations include MD, DDS, DMD, and DO

BMO physician loans are accessible to practicing physicians, residents, and fellows in all states except New York. For a more comprehensive understanding of this program, you can refer to our detailed BMO Physician Loan Review.

 

Evolve

Evolve Bank & Trust offers a mortgage solution for physicians in Idaho who face challenges when qualifying for conventional loans due to high student loan debt. Their physician loans provide an opportunity for immediate homeownership without the need for a down payment.

Here are the key features of Evolve physician loans in Idaho:

  • 100% financing is available for loans up to $1 million
  • 95% financing is available for loans up to $1.25 million
  • 90% financing is available for loans up to $1.5 million
  • 85% financing is available for loans exceeding $2 million
  • For primary residences, co-ops, condos, land purchases, and construction financing.
  • Designations eligible include MD, DO, DDS, DMD, PA, NP, DVM, CRNA, DC, OD, DPM, residents, fellows, pharmacists, and clinical nurse specialists.

It’s important to note that physicians who have been practicing for over a decade are not eligible for the doctor loan program. To explore your options and find the right mortgage solution, you can get matched with an Evolve lender in Idaho through LeverageRx.

 

First Horizon

For medical professionals in Idaho, First Horizon offers specialized physician mortgage loans tailored to their unique needs. While their program primarily serves Georgia and 13 other states in the southern United States, it also extends to Idaho. Here are the key features of their program:

  • Up to 100% financing is available for loans up to $1.5 million.
  • Up to 95% financing is available for loans up to $2 million.
  • Up to 90% financing is available for loans up to $2.5 million.
  • Can close on loan up to 6 months prior to the employment start date.
  • Eligible designations include MD, DO, DDS, DMD, CRNA, CPA, and DPM.
  • There is no private mortgage insurance (PMI) requirement.

To explore your options and connect with a suitable lender from First Horizon in Idaho, you can request your mortgage rates through LeverageRx

 

Heritage Bank NA

For physicians and medical professionals in Idaho, Heritage Bank NA is a preferred choice when seeking 100% financing for their home purchases. Their Physician Mortgage Loan program offers numerous advantages tailored to the needs of healthcare professionals. Here are the key highlights of the program:

  • No down payment is required for homes up to $1 million.
  • Low down payment requirements.
  • High loan-to-value ratios are available.
  • The program is open to MD, DDS, DO, OD, DPM, and DVM designations.
  • Available for practicing physicians and residents.
  • There is no requirement for private mortgage insurance (PMI).
  • The program applies to both primary and secondary homes.

To explore your options and connect with a lender from Heritage Bank NA in Idaho, simply complete a mortgage form through LeverageRx.

 

Huntington Bank

Huntington Bank offers a physician loan program in Idaho that caters to a range of medical specialties, including MD, DO, DDS, DMD, DPM, and DVM. This program provides several advantages for physicians seeking financing for their primary residence:

  • Up to 100% financing is available for loans up to $1 million.
  • Loans up to $1.25 million offer 95% financing.
  • Loans up to $2 million allow for 90% financing.
  • Available for primary residences only
  • It can be used for both purchase and refinance.

It’s important to note that for loans exceeding $1.25 million, Huntington Bank requires at least one year of attending status, which means it is unavailable for residents and fellows. However, loans below $1.25 million are accessible for both residents, fellows, and attending physicians.

For a more detailed understanding of the Huntington Bank Physician Loan program, you can refer to our comprehensive Huntington Bank Physician Loan Review.

 

Truist

Truist offers an exclusive physician loan program in Idaho specifically designed for medical professionals, including MD, DO, DPM, DDS, and DMD. This program is available to practicing physicians, residents, and fellows. It is important to note that Truist does not allow practicing physicians and dentists with over 10 years of experience to get a mortgage through this program.

Here are the features of Truist’s physician loan program in Idaho:

  • 100% financing up to $1 million.
  • 95% financing up to $1.5 million.
  • 90% financing up to $2 million.
  • Adjustable-rate and fixed-rate options are available.
  • Available for single-family homes or condos.
  • It is limited to primary residences only.
  • The program is applicable for both purchase and refinance.

Truist provides lenient debt-to-income requirements and does not require private mortgage insurance (PMI). For a full overview of the Truist physician loan program and its offerings, please refer to our detailed Truist Physician Loan Review. 

 

US Bank

US Bank provides physician mortgage loans to medical professionals in all 50 states, including Idaho. Whether you’re a medical trainee or an experienced practitioner, US Bank’s program has options you. Here are the key highlights of the program:

  • Up to 90% financing is available for loans up to $1.25 million.
  • Loans up to $1.5 million offer 85% financing.
  • Loans up to $2 million allow for 80% financing.
  • The program is exclusively available for MD and DO designations.
  • It is limited to primary residences only.

US Bank’s physician loan program caters to a narrower range of medical professionals compared to other doctor home loan programs. Also, US Bank does not have a 100% financing option.

For a more comprehensive review of the US Bank physician loan program, we invite you to explore our detailed US Bank Physician Loan Review.