Home Buying in 92130>Question Details

Zbosco13, Renter in Oak Park, MI

Are there still any physician loans out there with no PMI/100% financing for O.D.s? Looking in the state of MI

Asked by Zbosco13, Oak Park, MI Mon Jan 6, 2014

Help the community by answering this question:


Hi there - My suggestion is to give this bank rep a call. I believe an exception could be made for a OD.
Try reaching National Doctor Rep / Tom R. Callahan / thomas.callahan@53.com
He came recommended by Dr. Paul our Medical Ctr Director, we are now in our new home.

If you are a Resident or a more Established Physician - the following bank officer will provide you with 0% (zero) down 100% loan and No PMI with great rates and the costs were standard.

National Doctor Rep / Sr. Mortgage Officer / Tom R. Callahan / thomas.callahan@53.com
Fifth Third Savings Bank/ https://secure.53.com/mlo/thomascallahan
(904) 591-6722

They are lending 100% in Alabama, Florida, Georgia, Tennessee, South Carolina, North Carolina, West Virginia, Kentucky, Missouri, Wisconsin, Michigan, Indiana, Ohio, Illinois, Pennsylvania, New Hampshire.

Mr. Callahan has been recognized nationally as a ranking leader within the mortgage industry and recently has assisted many Physicians within the Barnes-Jewish Hospital/Washington University, MO and Missouri Baptist Medical Center.

Best wishes to you! Sarah J., MD
1 vote Thank Flag Link Mon Feb 17, 2014
Hi, my name is Matt Albert (NMLS# 658999) and I am a Doctor/ Physician Loan Specialist with Citizens Charter One Home Loans. I have been specifically working with physicians for over 12 years. We cover licensed medical physicians, residents, interns and fellows, which include MDs (Medical Doctors), DOs (Doctors of Osteopathy) along with DMDs and DDS (including Dental Surgeons, Orthodontists and General Dentists). We provide financing of 95% up to $850,000, 89% to $1 million AND 89% to $1 million for one time close construction Doctor Loan, all with NO PMI! We offer our Doctor Program in the following states:
Connecticut, Delaware, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, North Carolina, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia, Vermont, Washington, D.C., West Virginia. Additional States are possible on an exception basis.
If I can be of any assistance please feel free to contact me for details as we are NOT allowed to share guidelines of the program in online forums.

Matt Albert
Physician Loan Specialist
Mortgage Loan Officer
NMLSR # 658999
Citizens Charter One Home Loans
Phone - (336) 471-1825
Fax -(844) 574-2618
0 votes Thank Flag Link Thu Dec 18, 2014
My RE group also endorses Mr. Callahan as others stated before.
We hope this is helpful:
Our contact - Medical Center Director at University of Michigan Hospitals, Beaumont Hospital, MI
and Munson Medical Center within their Relo Dept provided the following as a contact: (taken from program brochure)

* Tom R. Callahan / thomas.callahan@53.com / 904.591.6722
* Vice President / Sr. Mortgage Officer
* Fifth Third

So - If you are an MD, DO, DPM, Resident, Fellow, or Established Physician - the following bank rep will provide you with:

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

Our Medical Relocation Dept recommends this program as well in - Alabama, Georgia, Tennessee, South Carolina, North Carolina, West Virginia, Kentucky, Missouri, Wisconsin, Michigan, Indiana, Ohio, Illinois, Pennsylvania, New Hampshire & of course Florida.

We must say as well that the service level provided has been excellent.
Mr. Callahan has been recognized nationally as a leader within the mortgage industry and has assisted hundreds of Physicians.

Best wishes to you!
T. J.

Real Estate https://secure.53.com/mlo/thomascallahan
0 votes Thank Flag Link Wed Mar 26, 2014
This site maps out physician loan providers:
0 votes Thank Flag Link Mon Mar 24, 2014
Hi Zbosco,

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 12, 2014
Hello Doctor,

I have a few question if you wouldn't mind reaching out to me.

Here is a high level overview of our Doctor Program:

Fifth Third Mortgage is pleased to announce our exclusive Doctor Loan Program, custom designed to fit the unique needs of Physicians seeking a home mortgage!

Available to New or Established Doctors, Residents or Fellows (MD, DO, or DPM) to purchase a new home or to refinance an existing property with up to
100% financing.

• Maximum Loan Amount of $1.5 million!

• $0 Down payment Options available!

• No Private Mortgage Insurance!

• Fixed and Adjustable mortgage options!

• Get Pre-Approved to purchase… not just Pre-Qualified!

• Interest rates at historic lows!

Call today to find out your options and how to plan for your upcoming
purchase or refinance!


Robert Curtis
Loan Officer/Physician’s Lending Specialist

NMLS ID 224355
0 votes Thank Flag Link Thu Jan 9, 2014
Zbosco13, I provide these loans in many states, but not in Michigan. I have the contact information for a loan officer who I trust who can help you with your loan in MI. Please call my cell at 757-927-1961. I'm happy to help.

J Mansisidor
0 votes Thank Flag Link Tue Jan 7, 2014
If you have income and assets, we offer a variety of of options for PROFESSIONALS and DOCTORS.

Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Bart and I have been in the mortgage business since 1987. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario.

Until then, I look forward to hearing from you.

Bart Gabe



800 315 8803

NMLS# 20743 - my licensing information

http://www.nmlsconsumeraccess.org/ - link to look up my license number
0 votes Thank Flag Link Mon Jan 6, 2014
Yes, doctor loans are still out there but the number of years you're out of med school will play into qualification. My Wells Fargo contact in San Diego may be able to provide you with a Michigan contact. Wells Fargo has (in my opinion) the best doctor's loan out there. Contact Richard Doughty, 858-385-5086. Tell him real estate broker Kimberly Dotseth in San Diego sent you. He's the best guy....he'll probably know another great guy! Good luck!
0 votes Thank Flag Link Mon Jan 6, 2014
Hi there,

I believe that there is a program through Union Bank that offers 5% down for physicians in California. However, I don't know if they offer in the state of MI. All the best! :)
0 votes Thank Flag Link Mon Jan 6, 2014
I work in Fl, so I am not sure about MI, but Josh Valezquez with American Momentum Bank (407-310-9844) offers a product similar to that. It may be worth calling him to see if he can write in Michigan?
0 votes Thank Flag Link Mon Jan 6, 2014
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