Home Buying in 44114>Question Details

bhimbni, Home Buyer in Middleburg Heights, OH

I am looking to purchase a home in OH. I am a physician on a Visa in the US. Can I avail of the Physician or "Doctor" loan program with NO PMI ?

Asked by bhimbni, Middleburg Heights, OH Mon Nov 11, 2013

Help the community by answering this question:


Hi there - Yes - you are eligible for this program with a work Visa, our friend in similar situation was just approved.

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
Yes you can and our Doctor/ Physician loan can help you! 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 (**exceptions possible**) 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 Fri Mar 20, 2015
If you are still looking for a loan, go here to see different physician loan providers by state:

0 votes Thank Flag Link Mon Mar 24, 2014
There are lenders like myself that offer loans for this particular scenario. One loan to consider is the Foreign National Loan. These loans are meant for non-residences/citizens seeking a home loan in the United States. Also, this type of loan usually requires about 20% down or more depending on the documents you have available so be prepared for that. It can also be more if you are seeking a high loan amount. Well I hope this helps! If you have any further questions or if you would like a loan, feel free to contact me! Good luck! Brian Nguyen Sr. Mortgage Banker Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Mon Feb 10, 2014
I would suggest checking with a large lender in the area. A Realtor could show you homes, but you want to be sure you can obtain a loan first.
0 votes Thank Flag Link Mon Jan 27, 2014
Depends on what type of VISA you maintain, but a PHYSICIAN or DOCTOR loan is going to have PMI or MIP, because you are only required to put 5% down (maximum). When you put less than 20% down, mortgage insurance is required. You could also look at a foreign national loan, if you have a down payment of 20% - 35% (depending on the program).

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. I offer a variety of "out of the box" loans in addition to traditional financing.

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
Hi Bhimbni,

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 Mon Jan 6, 2014

Regarding the visa: You'd be required to have a U.S. Social Security Number. Also acceptable Visa includes E Series (E1, E2 & E3), H Series (H1-B, B1-C, H2, H3, H4), L Series (L-1A, L-1B, L2, O Series (O-1) and NATO (TN-1 and TN-2). ---- I may have other outlets for alternate visa types/status but these are the most common we work with.

Regarding the doctor loan: It's called a "Community Solutions" lending product. With a 620 score (as of today), the loan product goes to 95% loan to value (5% down payment required). --- However, I do want to point out.... this loan product most definitely has PMI. There isn't a loan in the nation (except FNMA Homepath) that does not carry mortgage insurance on loans over 80% loan to value. However, they do give you a bit of a break with this loan product, I'd venture to even say it's roughly half of the monthly cost (speaking of difference between traditional conventional mortgage insurance vs the community loan product).

If you have add'l questions, I'd be happy to help. Best wishes otherwise, Kimberly Lawson, Licensed Mortgage Originator - Ohio only. Contact and licensing information can be found on my profile.
0 votes Thank Flag Link Tue Nov 12, 2013
I wanted to clarify my post further - Concerning your situation (non U.S. Veteran): There are options for "lender paid mortgage insurance". When doing this it does raise the rate and/or cost of the loan up front, but would not require monthly mortgage insurance.
Flag Tue Nov 12, 2013
Yes, there are physician loan programs through various banks. I just recently closed one with Huntington. They usually take a little bit longer to close than the average loans. I would be happy to discuss your specific needs with you and to send you some local lender contacts. Feel free to call or email me.

Jon Oberman
RE/MAX Traditions
0 votes Thank Flag Link Tue Nov 12, 2013

I'm a real estate agent in Ohio, and yes, there are physician loan programs available. I have several mortgage lender contacts I would be happy to share with you. I invite you to contact me at your earliest convenience, so I can help any way I can.

Dominic M. Picione
Keller Williams
0 votes Thank Flag Link Tue Nov 12, 2013
Maybe I can help you to apply for green card if that helps. jilan_zhang@yahoo.com
Flag Tue Nov 12, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer