Home Buying in Pittsburgh>Question Details

Beth Lahey, Other/Just Looking in 15217

Are there any doctor/physician specific mortgage options requiring 10% (or less) downpayment on a jumbo loan available in the Pittsburgh area?

Asked by Beth Lahey, 15217 Sat Nov 24, 2012

Doctor/Physician mortgages offering less than 10% down with no PMI seem to be widely avilable in other markets - does anyone offer this type of financing in Pittsburgh?

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12
Hi Beth, If you are an MD, DO, DPM, Resident or Established Physician - the following bank rep will provide you with 0% (zero) down 100% loan and No MI with Preferred Client rate and standard costs.

Asst. Vice President / Sr. Mortgage Officer / Tom R. Callahan / thomas.callahan@53.com
Fifth Third Savings - 904-591-6722
Offering 100% Lending within Alabama, Florida, Georgia, Tennessee, South Carolina, North Carolina, West Virginia, Kentucky, Missouri, Wisconsin, Michigan, Indiana, Ohio, Illinois, Pennsylvania, New Hampshire. And New York with 5% down.

Mr. Callahan has been recognized nationally as a ranking leader within the mortgage industry and has assisted hundreds of Physicians within Northwestern Memorial Hospital and Univ of Chicago Medical Center in my new home town.

Best wishes to you! Sarah Jones, MD
1 vote Thank Flag Link Tue Jan 28, 2014
I recently had a buyer obtain Jumbo financing with only 5% down (relocated from Atlanta to Pitt) and received an outstanding rate. Also he has 100% Financing, No PMI regardless of your medical tenure?

He was referred to us by a Medical Center Director we spoke to recently at our local Hospital provided the following as a contact:
If you are an MD, Resident or Established Physician - contact him for 0% (zero) down 100% loan and No PMI, No origination fee and Preferred Client rate, and standard costs. The rates are the lowest my group has found.

Asst. Vice President / Sr. Mortgage Officer / Tom R. Callahan / thomas.callahan@53.com
904-591-6722
Fifth Third Savings

Mr. Callahan has apparently been recognized nationally as a ranking leader within the mortgage industry and has assisted hundreds of Physicians within Emory University Medical Center and Piedmont Hospital per my staff in the Atlanta area.

Lending within Alabama, Florida, Georgia, Tennessee, South Carolina, North Carolina, West Virginia, Kentucky, Missouri, Wisconsin, Michigan, Indiana, Ohio, Illinois, Pennsylvania, New Hampshire, Virginia and New York.

Best wishes to you! Tyler Jacobs, PhD / Broker

https://secure.53.com/mlo/thomascallahan
1 vote Thank Flag Link Thu Nov 28, 2013
This will help help you: My Law Firm and RE Offices have used Mortgage Officer / Tom R. Callahan / Fifth Third / (904) 591-6722
* Recently closed a file for a Doctor at UPMC Medical Center in Pennsylvania

Email: thomas.callahan@53.com, and have received 100% financing and 95% LTV on loan amounts up to $1,000,000 with No PMI, great low rate, variety of terms, and few bank fees, all in one loan.
If your occupation is a Doctor then you should take full advantage of this offering and keep your capital in savings.

* 0% (zero) down, 100% financing
* No PMI
* Preferred Client Rate
* Loan amounts to $1.5ML - down payment may vary

If your occupation NOT of Doctor then you can do an 80-10-10, No PMI and you get the lowest rate by just placing a small 2nd mortgage behind the 1st mortgage of 80% up to Max 90% total combination loan. To our knowledge the 80-15-5 is no longer available anywhere.

Mortgage Officer / Tom R. Callahan / Fifth Third
Email: thomas.callahan@53.com

Tom has been assisting home buyers for over 28 years and is recognized on a national level with the Mortgage Bankers Association as a leader within the industry.

https://secure.53.com/mlo/thomascallahan

Hope this helps – T J
0 votes Thank Flag Link Wed Mar 26, 2014
check out http://www.physicianbanks.com. They may be able to help.
0 votes Thank Flag Link Mon Jan 27, 2014
Hi,

You may want to contact Rae Drake with Fifth third Bank.
I have referred her for the past 10 years to my buyers and she has always performed professionally.
She puts her clients interest first and is extremely knowledgable of the industry and the banks programs.
They have a great Doctor Program- She is even married to a Physician.
You can reach her at 352-514-1829 or rae.drake@53.com

Good Luck,
Bernedette- Realtor in Vero Beach, Florida
0 votes Thank Flag Link Sun Jan 26, 2014
Hi Beth,

If you need further assistance please feel free to call me any time. The link to my website is below.

Best Wishes,
Donna Wetherbee
0 votes Thank Flag Link Sun Dec 29, 2013
Visit with local banks or your hospital's credit union.
0 votes Thank Flag Link Thu Nov 28, 2013
Hello,

Not sure if you still need assistance on this or not? If you do I work for 5th/3rd Bank and we have a great Physician loan program with 100% financing on purchase loans up to $650,000. After $650k we require a 10% down payment.

I would be happy to answer any questions you have about the program feel free to call anytime at 412-651-5953.

Regards,

Tod Novak
0 votes Thank Flag Link Sat Jan 5, 2013
I believe SandT bank has a program like what you are asking about. In would give them a call.
0 votes Thank Flag Link Sat Nov 24, 2012
Beth,

I am a certified DRS Agent by Physicians Loans and I have helped many doctors find and purchase homes with Physician Loans financing. There have been loans available to doctors with as little as zero down payment and the Seller may pay up to three percent of the sale price towards Buyer's closing costs.

Sale price Down payment
$0-$500,000 0%
$500,000-$650,000 5%
$650,000-$850,000 10%
$850,000-$1,000,000 15%

Please feel free to contact me at housesella@aol.com or 412-856-2000X166 or 412-373-4221.

Thank you,
Blair W. Cohen
RE/MAX Realty Centre
0 votes Thank Flag Link Sat Nov 24, 2012
Blair,
Blair, Nice to see that you have a good understanding of Doctor Loans, It's a great tool for assisting Realtors and their medical clients. I'm a loan officer with Fifth Third Bank. We are able to go up to $1.5M as our top sales price tier with a bit less downpayment required on several of the tiers you outlined. Let me know if you have any questions or I can help out.

Best,

Robert Curtis
Physicians Loan Specialist.
773-732-9444
Flag Fri Dec 27, 2013
Thanks Larry - I think Howard Hanna's Doctor Loans require 15% down on homes over $500K. We are looking to buy something closer to $750K, but will give them a call to confirm.
0 votes Thank Flag Link Sat Nov 24, 2012
You can go to Howard Hanna website, select mortgage tab, select program tab and view physician program for mortgage loans.

http://www.howhardhanna.com

Hope this helps.

Larry melen 412 302-7733
0 votes Thank Flag Link Sat Nov 24, 2012
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