About Fifth Third Bank
Headquartered in Cincinnati, Ohio, Fifth Third Bank is one of the largest banks in the United States with over 1,100 branches throughout 10 states. The bank provides commercial banking, branch banking, consumer lending, and wealth and asset management services to its customers.
Fifth Third Doctor Loan Program
Their new doctor loan program covers MDs, DOs, and DPMs in residency or fellowship and practicing doctors that completed residency within the last 12 months. Under this program, physicians can borrow up to $500k with no down payment or up to $1 million with low down payment options available, both options with no PMI required.
For more established physicians that have been practicing for longer than 12 months (or 24 months if self-employed), Fifth Third will lend up to $650,000 with no down payment or up to $1.5 million with flexible down payment options based on loan size, again with no PMI required. Fixed and Adjustable Rate options are available for all products.
- 100% financing available
- Close up to 90 days prior to employment start date
- Can be used for both new purchases and refinancing existing homes
- Both fixed and adjustable-rate options available to borrowers
- Student loans in deferment or forbearance are not counted towards the borrower's debt to income ratio
- Not available in all states
- Loans are capped at $1.5 million
- Eligibility for mortgage loan programs depends on current career status
- Medical Doctor (MD)
- Doctor of Dental Surgery (DDS)
- Doctor of Dental Medicine (DMD)
- Doctor of Osteopathy (DO)
- Doctor of Podiatric Medicine (DPM)
Learn More: Fifth Third Bank Physician Loan Review