All banks love Doctors, except for maybe hard money lenders =] We have a list of preferred lenders on our website.

http://www.gregorygarver.com

Michael is correct, Kaiser does offer a 2nd loan of up to $120k that doesn't require payments for a fixed period. It is part of their recruiting package.

In addition the the other sources of lending below, I am a direct lender who offers a state income product. For some reason if you do not have luck with any of the other responses you can contact me to see if I can be of some assistance. Good luck!

It has been my experienced that most Doctors working with a Hospital or Medical Center qualify for some type of assistance with the group that has recruited you to join your team. The financing support can vary depending on the tyope of program. I recently had Two Doctors, a husband and wife team that were transferring to San Francisco. Each were recruited by different hospitals. One of the hospitals assisted their new Doctor with a down-payment assistance. The couple qualified for a loan with various lenders and thus chose the Mortgage Broker that they felt most comfortable with and trusted.

Another Doctor Client received a "second loan" from the University Hosptial to support his purchase. Again, he qualified with different lenders and chose to use a direct lender. In this case Wells Fargo as that is the bank that he had already established a long term relationship with.

Your first objective would be to contact your employer. Next up will be to move thru the pre-approval process with your direct lender or seek a referral of two Mortgage Brokers and interview them. During this process, you will want to establish a relationship with a Realtor. Your Realtor can also make recommendations of Mortgage Brokers or Direct Lenders for you to interview as well.

Cheers....Linda

Cheers...Linda

The SF banks love doctors with good income and will cater to your needs. However, most lenders (BofA, Wells Fargo, WaMu, Chase) want to establish a "banking relationship" with their clients and then they will give them a PREFERRED STATUS on loans.
What this REALLY MEANS is that IF you deposit MONEY with a particular bank, then you save save 1/4% to 1/2% under the going rate and you may also qualify for reduced fees. For some of the banks, they require $100,000 to $500,000 to qualify for these reduced rates/fees.
The best way to save on loans is to shop the rates the same as you would the real estate deals here in SF. Call and interview some experienced bankers and brokers to help you make the best decisions to fit your needs.

Hi there,
I'm a lender at a rock solid community bank based right here in the bay area.
We have professional practice loans for doctors who need help finanancing the purchase of an existing practice, medical equipment financing, credit lines to help manage your cash flow and many more custom loans for doctors. We understand the unique nature of your financials so you will get highly responsive service and sound advice when working with us on a mortgage as well.
Mechanics Bank was founded 105 years ago right here in our community and is still locally owned by the founding families. I don't just work there I'm a client of the bank as well, and the service is top notch I hope this helps.

My name is Sandy Madison with SunTrust Mortgage. I am a loan officer and specialize in doctor loan programs. Please call 434-566-2420. I will be happy to discuss your goals.

Dear Gschroeder,

Michael Ackerman has an excellent suggestion in contacting the potential employers...... Also you can find some excellent mortgage brokers and bankers on my website under Resources. Try Robin Powell or any of the others. They can also help you research those loans!

Good luck.
Sally

G. Schroeder,

Good question. I spoke with a few of my best mortgage brokers and direct lenders in search of this elusive loan for another referral client finishing his residency. It was not unlike looking for water in the desert. In short, there *were* a few programs offered by some of the major lenders, however they've disappeared like water on desert sand.

However I've got a real nugget of a clue for you! Contact the hospital or institution who may is interested in recruiting you and ask them! It is all part of your 'recruitment package' aka 'sign-on packet'. Of course like many things in life, if you don't know the right questions to ask, it may never be 'offered.' I sincerely hope this helps. - Kaiser has a good program and I'm confident once you start enquiring you'll find some other doors open for you too!

Let me know if there is anything else I may assist you, my team and I would be happy to help!

Mike Ackerman, CRS, e-Pro
Zephyr Real Estate, Top Producer 2000 - 2008
4040 24th Street - Noe Valley Office
San Francisco, CA 94114 - 415-695-2715 - ABZ@ZephyrSF.com
"We're all about San Francisco!"

Gschroeder,

While we don't specialize in loans for doctors, my general advice here would be to first identify if you, as borrowers, have any requirements for financing that don't fit conventional guidelines. You may find that your pre-approval sets you up for success with any lender. This, in turn, will give you more choices and may ultimately lead to a better rate down the road. If you are tied to one program with one bank, by definition you are at the mercy of that program's pricing.

Again, if you know you can't qualify otherwise, you must seek out a specialized program. However, if you're not sure about your prospects for qualifying, I can assist and am happy to help.

Thank you and best of luck!

Rob Spinosa
rspinosa@mortgagemasterinc.com

I have many doctor clients and the only ones that have gotten specialized financing are those that work for a certain medical provider. I would be glad to refer you to a mortgage broker that can help you.

Shaban Shakoori
TRI Coldwell Banker, SF's #1 Office

Hi,

I'm not sure what you mean by doctor loans... I was a mortgage originator for a number of years, but am unaware of a specialized loan for doctors. Things have certainly changed since I left that side of the business, though, so I could simply be uninformed...

If you don't get the response you're looking for, I'd be happy to forward contact information of a trustworthy mortgage broker here in San Francisco. I have an excellent contact at Guarantee Mortgage, which is one of the Bay Area's best mortgage companies. They would have a definitive answer for you.

Best of luck to you!

Jason Chapin
McGuire Urban Bay
415-420-1143
jchapin@mcguire.com