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Physician Mortgage Loans in North Carolina

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How to Find a Physician Mortgage in North Carolina

 

 

For physicians looking to secure a mortgage in North Carolina, there is one primary step you can take to simplify the process. You’re going to want to compare lenders in terms of their rates, terms, and down payment options. To make this task easier, it is recommended to work with a mortgage broker specializing in physician mortgage programs.

While any broker can assist you in finding financing through conventional loans, not all possess the requisite knowledge of physician mortgage loan programs. Given that doctor loans have unique requirements and terms, it is crucial to find a broker with expertise in this particular area.

To start comparing rates and terms from lenders in North Carolina, you can work with LeverageRx. Our team has helped over 50,000 physicians and healthcare providers find suitable banks and mortgage lenders to meet their home buying needs.

Once you’re connected with a lender, you will need to complete and submit a loan application. Additionally, you should 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 North Carolina

 

When searching for a physician mortgage in North Carolina, it is important to focus on lenders and programs available within the state. This ensures that you work with lenders who have a comprehensive understanding of the local market and comply with state-specific regulations. Loan programs can vary from one state to another, so finding the options available in North Carolina is important.

Here are nine reputable physician mortgage loan lenders catering to physicians in the state of 

North Carolina.

 

 

BMO 

BMO offers a physician loan program that specifically addresses the financing challenges faced by medical professionals in North Carolina. This program aims to overcome the obstacles to homeownership that doctors often encounter, such as significant student loan debt and limited savings for the conventional 20% down payment requirement.

Here are the highlights of what BMO physician loans have to offer in North Carolina:

  • Eligible Designations: MD, DDS, DMD, DO
  • Up to 95% financing for loans up to $1.5 million*
  • Up to 90% financing for loans up to $2 million
  • Available for primary residences only
  • Mortgages available for both purchase and refinance
  • Construction financing options are available

BMO physician loans are available to qualified licensed medical doctors, residents, and fellows in all states except New York. To learn more about this program, you can read our full BMO Physician Loan Review.

Evolve 

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

Here are the key features of Evolve physician loans in North Carolina:

  • Eligible Designations: MD, DO, DDS, DMD, PA, NP, DVM, CRNA, DC, OD, DPM, residents, fellows, pharmacists, and clinical nurse specialists
  • 100% financing available for up to $1,000,000
  • 95% financing available for up to $1,250,000
  • 90% financing available for up to $1,500,000
  • 85% financing available for loans exceeding $2,000,000
  • Available for primary residences, co-ops, condos, land purchases, and construction financing

These specialized loans are designed to help you achieve homeownership without the traditional waiting period. However, 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 North Carolina through LeverageRx.

First Horizon

First Horizon offers physician mortgage loans specifically tailored to medical professionals in North Carolina and other southern states. Here are the key features of their program:

  • Eligible Designations: MD, DO, DDS, DMD, CRNA, CPA, DPM
  • Up to 100% financing available for loans up to $1.5 million
  • Up to 95% financing available for loans up to $2 million
  • Up to 90% financing available for loans up to $2.5 million
  • Flexible closing options allow closing up to 6 months prior to the employment start date
  • No requirement for private mortgage insurance (PMI)

To explore your options and find a suitable lender from First Horizon, you can request your mortgage rates through LeverageRx.

First National Bank of Pennsylvania

First National Bank’s physician mortgage is beneficial for medical professionals whether they are currently in training or already practicing physicians. The eligible medical specialties in North Carolina, include MD, DO, DDS, DMD, DVM, and PharmD.

Here are the key features of First National Bank’s physician loan:

  • Up to 100% financing available for loans up to $1 million
  • Up to 90% financing available for loans up to $1.5 million
  • Available for both purchase and refinance transactions
  • Primary or secondary residences
  • Construction financing options available

For more details and a comprehensive review of First National Bank’s physician loan, you can read our full First National Bank Physician Loan Review.

Heritage Bank NA

Heritage Bank NA is a preferred choice for physicians and medical professionals in North Carolina who are seeking 100% financing for their home purchases. Their Physician Mortgage Loan program offers several advantages, including:

  • No down payment for homes up to $1 million.
  • Lower down payment requirements and higher loan-to-value ratios.
  • Available for MD, DDS, DO, OD, DPM, and DVM.
  • Accessible to both practicing physicians and residents.
  • No private mortgage insurance (PMI) requirement.
  • Applicable to both primary and secondary homes.

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

Huntington Bank

Huntington Bank provides a physician loan program in North Carolina that caters to multiple medical specialties, including MD, DO, DDS, DMD, DPM, and DVM. Their program offers various advantages for physicians who are looking to finance their primary residence:

  • Up to 100% financing 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 exclusively for primary residences.
  • Can be used for both purchase and refinance.

For loans exceeding $1.25 million, Huntington Bank requires at least one year of attending status, making it unavailable for residents. However, loans below $1.25 million are accessible for both residents and attending physicians.

To learn more about the Huntington Bank Physician Loan program in North Carolina, you can refer to our comprehensive Huntington Bank Physician Loan Review.

TD Bank

TD Bank offers a physician mortgage program in North Carolina that caters to medical professionals with designations such as MD, DO, DPM, DDS, and DMD. The program is available to practicing physicians, dentists, oral surgeons, as well as licensed medical or dental residents and fellows.

Here are the key features of TD Bank’s physician mortgage program in North Carolina:

  • Available for both home purchase and refinance.
  • Limited to primary residences only.
  • Applies to single-family homes, condos, planned unit developments (PUDs), and co-ops.
  • Offers 100% financing for loan amounts up to $750,000.
  • Provides 95% financing for loans up to $1.25 million.
  • Offers 89.99% financing for loans up to $1.5 million.

It’s important to note that TD Bank’s physician mortgage program in North Carolina is specifically designed for medical professionals who are no more than 10 years out of residency. To gain a comprehensive understanding of their offering and make an informed decision, you can read our full TD Bank Physician Mortgage Review.

Truist

In North Carolina, Truist offers a physician loan program for individuals with designations such as MD, DO, DPM, DDS, and DMD. Whether you are a practicing physician, dentist, oral surgeon, resident, or fellow, Truist provides financing options to suit your needs. It’s important to note that Truist does not consider practicing physicians and dentists with over 10 years of experience to be eligible.

Here are the key features of Truist’s physician loan program in North Carolina:

  • Limited to primary residences only.
  • Can be used for both home purchase and refinance.
  • 100% financing available for loan amounts up to $1 million.
  • 95% financing for loans up to $1.5 million.
  • 90% financing for loan amounts up to $2 million.
  • Both adjustable-rate mortgages (ARMs) and fixed-rate options available.
  • Relaxed debt-to-income requirement.
  • No private mortgage insurance (PMI) requirement.

If you are a medical professional in North Carolina looking for a mortgage solution tailored to your unique needs, consider exploring Truist’s physician loan program. To gain a comprehensive understanding of their offering and make an informed decision, you can read our full Truist Physician Loan Review.

US Bank

US Bank’s physician mortgage loans to medical professionals in North Carolina, offering financing options for individuals with designations such as MD and DO. Whether you are in the final stages of your residency program or have been practicing for a decade, US Bank has financing options for your new home. Here are the program highlights of US Bank’s physician mortgage loans in North Carolina:

  • Limited to primary residences only.
  • 90% financing available for loan amounts up to $1.25 million.
  • 85% financing for loans up to $1.5 million.
  • 80% financing for loan amounts up to $2 million.

It’s worth noting that US Bank extends its physician loan program to a limited number of designations, considering only MD and DO professionals eligible. Compared to other doctor home loan programs, US Bank has a more selective approach in determining eligibility. It’s also important to mention that US Bank does not offer a loan option with 100% financing.

To learn more about their program and make an informed decision, you can read our full US Bank Physician Loan Review.