Do Physician Loans with 0% down still exist?

Asked by jjacobsDO, Tue Jul 2, 2013

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Dr S Jones MD, Both Buyer And Seller, Orlando, FL
Tue Jan 28, 2014
Hi Tyler, 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 /
Fifth Third Savings, at 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
0 votes
I am glad you had great success working with Tom, however we DID NOT. At one point in the process, he told me that he was screening his calls from certain individuals. Then on the day of our close, he sent me an email stating we needed to extend for two weeks! He went all day Friday,Sat,Sun,Mon, and Tues without pickup up one phone call or returning one message. Tuesday I finally called him from a different number and he picked right up. I asked him if he was screening my calls, and he answered "Yes!". He also lost documents multiple times and needed me to re-send them. He put the WRONG home into loan process which cost us several days.
He came through for us in what we wanted in the Doctors Loan Program, but he was so extremely unprofessional that I would highly recommend NOT using Tom Callahan at Fifth Third.
Flag Tue Jun 17, 2014
Bernedette, Home Buyer, Vero Beach, FL
Sun Jan 12, 2014
Hi Tyler,

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

Good Luck,
Bernedette- Realtor in Vero Beach, Florida
0 votes
Frank & Shar…, Agent, Fleming Island, FL
Wed Jul 3, 2013
Tyler, thank you for that information. We will contact Fifth Third Bank, as BBVA Compass Bank has suspended that program for Physicians.

We hope that you have a wonderful July 4th and if there is anything else we can help you with, such as a Relocation Guide for the Jacksonville area, we would be happy to send you one.

We just helped a Pediatric Resident find the perfect home close to the hospital where he will be working. This loan would not have worked for him in any event, as his family wanted to use their home town bank, but for future Physicians, it will be an excellent option.

Best Holiday regards,

Sharon and Frank Alters, GRI, e-PRO, CDPE
Coldwell Banker Vanguard
0 votes
John Walin, Agent, Libertyville, IL
Wed Jul 3, 2013
wow that is ridiculous, really? pass the hat for MD's to get subsidized housing? So is that any PhD in any field or just MD's?
0 votes
John, my name is Matt Albert (NMLS# 658999) and I am a Doctor/Physician Loan Specialist with SunTrust please check out my website for details of SunTrust's Doctor Loan. Should you have any questions or concerns let me know!
Flag Sun Jan 12, 2014
Any MD or DO or DPM is eligible for 0% down and No MI.
My contacts within the two Hospitals I spoke with recently stated that Tom Callahan / VP and National Mortgage Officer has closed several loans positioned as such. I would recommend making contact with Mr. Callahan at Fifth Third. or 904-591-6722
Good luck. TJ
Flag Wed Jul 3, 2013
Frank & Shar…, Agent, Fleming Island, FL
Tue Jul 2, 2013
Hi Tyler,
Just checked with the one bank we know who is doing portfolio loans with special deals to physicians, dentists, attorneys and CPAs.

There is no more 0% financing, but there is a 5% down loan in a stable market (10% if considered declining,which is not a problem here anymore).

Also, if you are a first-time home buyer or have not owned a home in three years, the loan is 5% down and no mortgage insurance, up to $417,000 conforming loan limit.

For more information, call Sue Hicks at BBVA Compass Bank, 904-343-2114. If there is anything we can do to assist you, give us a call at 904-673-2308.

Hope this is helpful to you and have a Happy 4th!

Sharon and Frank Alters, GRI, e-PRO, CDPE
Coldwell Banker Vanguard
0 votes
Patti ODwyer, Agent, Jacksonville, FL
Tue Jul 2, 2013
Yes, I just closed one of my listings (6/3/2013) in Beauclerc with a 100% physicians financing. I can get you the loan officer's name and send to you. Just e mail me at
0 votes
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