Many financing options are available to physicians seeking to purchase a home. Some hospital systems and employers are able to offer some assistance on the front end, in the form of a sign-on bonus, a real-estate stipend, or help with buying or selling your home.
Even if your new employer is unable to provide assistance with your home purchase, many banks have special loan products specifically for physicians.
A husband-wife physician couple who recently relocated to Atlanta from Texas was able to take advantage of a special physicians’ loan from SunTrust Bank to purchase their home, reports ajc.com.
Typically these specialized loans allow physicians to purchase homes with less money down, or even zero down. Additionally, they may offer other special terms such as lower interest rates.
According to White Coat Investor, many banks only offer special physician loans to new physicians, and/or physicians purchasing their first home.
Below are a few banks offering physician loans. This is not an endorsement of a particular product, but a resource to help you find a few to evaluate relative to your financial situation and financing needs.
For more information on physician home loans: