Physicians Mortgage Program

A new lending solution for physicians and dentists can help them qualify and purchase more home.

The Physician’s Mortgage Program from Raymond James Bank is designed specifically for licensed medical physicians (MDs), doctors of osteopathy (DOs), doctors of dental medicine (D.M.D. / D.D.S.) and medical residents, interns and fellows who are under contract to begin employment with a hospital, physician’s group or dental practice within 90 days of closing.

The Physicians Mortgage program provides several benefits:

  • Up to 90% financing available for a home purchase1
  • Established physicians2 can borrow up to $1,500,000 for new purchase and refinances
  • New physicians3 can borrow up to $750,000 for new purchase (no refinances)
  • No mortgage insurance required
  • Available in all 50 states

Applicants must have a client relationship with a Raymond James affiliate established prior to closing. To learn more about this program and how it can help you meet your financial needs, please call your Raymond James Bank mortgage consultant.

1• A $270,000 5/1 adjustable rate mortgage with an initial rate of 2.625% and an annual percentage rate of 2.9343% would have 60 estimated monthly principal and interest payments of $1,084.46. The maximum amount that the interest rate can rise under this program is 5 percentage points, to 7.625%. The monthly payment could rise from $1,084.46 to $1,762.47 in the eighth year. If an escrow account is required or requested, the actual monthly payments will also include amounts for taxes and homeowners insurance. Down payment used in example is 10%.

2An established physician is a licensed doctor or dentist who has been employed by a hospital, physicians group or dental practice as a nonresident for more than 12 months but less than seven years. Established self-employed physicians in practice for a minimum of two years also are eligible.

3A new physician is a licensed resident, intern or fellow scheduled to complete a medical residency program or clinical fellowship program who is under contract to begin employment with a hospital, physicians group or dental practice within 90 days of closing on a mortgage or who has been employed as a nonresident for less than 12 months.

Products, terms and conditions subject to change. Subject to standard credit criteria. Property insurance required. Flood insurance required if property is located in a designated flood zone of "A" or "V".

Raymond James & Associates, Inc. and Raymond James Financial Services, Inc. are affiliated with Raymond James Bank, N.A. Unless otherwise specified, products purchased from or held at Raymond James & Associates or Raymond James Financial Services are not insured by the FDIC, are not deposits or other obligations of Raymond James Bank, are not guaranteed by Raymond James Bank and are subject to investment risks, including possible loss of the principal invested.