Physician Loan Alabama

Preferred Physician Loan Officer

Bob Hall
NMLS# 658867
Mobile: (404) 432-1006
Email: bob.hall@suntrust.com
Website: www.suntrust.com/bob.hall

  • Designed to meet the unique financial needs of Licensed Residents, Interns, Fellows in MD, DO, and DPM programs and licensed Physicians and Dentists (MD, DO, DPM, DDS, DMD).
  • No Mortgage Insurance regardless of the LTV
  • 100% financing – loan amounts up to $750,000 with zero down payment
  • 95% financing – loan amounts from $750,001 to $1,000,000 require a 5% down payment
  • 89.99% financing – loan amounts from $1,000,0001 to $1,500,000 require a 10.01% down payment
  • ZERO PMI EVEN WHEN THE LTV IS OVER 80%
  • Max Loan amount for Residents, Interns and Fellows is $750,000
  • Gifts/employer loans/seller contributions allowed depending on specific program availability and requirements
  • In some states, the Doctor Loan requires a pre-existing SunTrust deposit account relationship. If the borrower does not have the pre-existing SunTrust deposit account relationship in those states then they might qualify for the Premier Mortgage. The Premier Mortgage offers jumbo financing over 80% with zero mortgage insurance.

Find out more by contacting Bob Hall at bob.hall@suntrust.com and/or (404) 432-1006. More details and the online application is located at www.suntrust.com/bob.hall

Get Your Physician Loan Rates Now by Completing the Form Below.

Regardless if our clients are a first time home buyer or purchasing a new home in Alabama, our vetted loan officers have a strong understanding of the local real estate industry and what it really requires to secure your physician home mortgage with proficiency and know-how.

Our loan officers in Alabama offer special financing for doctors, exactly like you.

First off, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are extremely profitable clients for lenders. They take out big loans early in their careers and almost always pay them off. Lenders use doctor loans to secure early career doctors by lending them more money with a lot fewer requirements than their competition.

Physician Home Mortgage Professionals In Alabama

If you are searching for a physician mortgage in Alabama then you came to the perfect place.

You’ve worked very hard to become a doctor and buying home should not be nearly as challenging.

Did you know there is a special loan that makes it easy for physicians to buy a home?

A home loan only for doctors?

Yup, doctors get their own home loan!

A physician mortgage is a specialty loan program created just for physicians in the home purchasing process.

We recognize the financial demands of your student loan liability, and how important it is to preserve working capital for when the time is right with embarking upon your career. Regardless if you are a couple years into practice, or a well established physician, you can count on us to find a mortgage loan that is exclusively tailored for your needs.

Many physicians in Alabama may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or very little to no work history.

Despite these reasons smart financial institutions know that doctors are a good bet considering that they typically have an extremely low default rate on loans, high earning potential and stable jobs.

Not all banks offer this specialized product and within banking institutions that do just simply speaking to the right mortgage officer makes a significant difference.

Advantages of Physician Mortgage Loans

  • Usually does not include student loan monthly payments in debt-to-income percentage.
  • Usually requires small to no down payment (0-5 percent).
  • Typically does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Typically will approve an agreement as proof of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

Buying a home doesn’t have to drain your savings and the process doesn’t have to drain your time.

Should You Put Cash Down?

Suppose you have some cash to put down or are considering waiting until you have the money?

Our mortgage lenders can do the math for you and show you what each scenario looks like and the advantages of each too.

In most circumstances, you’ll get your home loan paid off sooner and save thousands on interest rates too.

Furthermore, don’t overlook that having equity in your house will most likely provide more security and flexibility, particularly if something unforeseen happens. With the 100% financed physician mortgage loan, you should expect to begin under water. If something doesn’t work out and you are forced to sell quickly, you need to be prepared to write a potentially big check for up to 10% of the purchase price just to get out of the house.

Whether you are relocating down the road, across town or across the country, we are here to assist you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Alabama physician home mortgage program!

Top cities in Alabama for a physician loan.

Auburn
Birmingham
Decatur
Dothan
Florence
Hoover
Huntsville
Madison
Mobile
Montgomery
Phenix City
Tuscaloosa