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.
- 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
- 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
- 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