Physician Loans in Alaska


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Bank Of America

(All 50 States)

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Online

usually responds within 30 minutes

Bank Of America

(All 50 States)

$100M Closed Loans

Bank of America, founded in 1904, is a leading global financial institution offering a broad range of banking, investing, asset management, and other financial and risk management products and services.

High-income professionals can take advantage of various services from Bank of America, including personalized wealth management, advanced investment strategies, and dedicated advisors for financial planning. They also offer specialized banking services, flexible mortgage options, and exclusive rewards and benefits. [ Read Review → ]

  • Minimum credit score: 700
  • Maximum loan: $2,000,000
Down payment Financing
3%up to $825,000
5%up to $1 million
10%up to $1.5 million
15%up to $2 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • OD
  • DVM
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

BankMD

(All 50 States)

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Online

usually responds within 30 minutes

BankMD

(All 50 States)

$100M Closed Loans

BankMD, founded in 2005 and operating via bankmd.com, specializes in providing financial services to medical professionals with a focus on personal loans and wealth management.

High-income professionals can access a suite of services from BankMD, including specialized banking, lending, and investment solutions. The bank's offerings are tailored to meet the unique financial needs of medical professionals, helping them manage and grow their wealth effectively. [ Read Review → ]

  • Minimum credit score: 670
  • Maximum loan: $3,000,000
Down payment Financing
0%up to $850,000
5%up to $1 million
10%up to $2 million
15%up to $3 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DVM
  • DPM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

Flagstar

(All 50 States Except NY)

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Online

usually responds within 30 minutes

Flagstar

(All 50 States Except NY)

$100M Closed Loans

Flagstar, founded in 1987, is a leading national bank headquartered in Michigan, offering a broad range of banking, mortgage, and lending operations.

High-income professionals can utilize Flagstar's wealth management services for their financial planning needs. These services include personalized investment strategies, retirement planning, estate planning, and trust services. Additionally, Flagstar offers private banking solutions such as tailored loans and exclusive credit options. [ Read Review → ]

  • Minimum credit score: 680
  • Maximum loan: $3,000,000
Down payment Financing
0%up to $1 million
5%up to $1.5 million
10%up to $3 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • CPA
  • RN
  • DC
  • PhD

GreenState Credit Union

(All 50 States Except CA)

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Online

usually responds within 30 minutes

GreenState Credit Union

(All 50 States Except CA)

$100M Closed Loans

GreenState Credit Union, founded in 1938, is a member-owned financial cooperative providing diverse banking services to more than 350,000 members across the United States.

High-income professionals can take advantage of a variety of services from GreenState Credit Union. These include exclusive checking and savings accounts with competitive interest rates, extensive loan options, wealth management and investment services, retirement planning, and insurance services, all designed to optimize their financial growth and security. [ Read Review → ]

  • Minimum credit score: Not reported
  • Maximum loan: $2,000,000
Down payment Financing
0%up to $1 million
5%up to $1.25 million
10%up to $2 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • PharmD
  • NP
  • PA
  • CRNA
  • JD
  • DC
  • CPA
  • PhD
  • RN

Keybank

(AK, AZ, CA, CO, CT, DC, FL, GA, HI, ID, IL, IN, KY, MA, MD, ME, MI, MO, MT, NC, NH, NJ, NM, NV, NY, OH, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA, WI, WY)

Match Banks Contact Send Email

Online

usually responds within 30 minutes

Keybank

(AK, AZ, CA, CO, CT, DC, FL, GA, HI, ID, IL, IN, KY, MA, MD, ME, MI, MO, MT, NC, NH, NJ, NM, NV, NY, OH, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA, WI, WY)

$100M Closed Loans

Keybank, established in 1825, is a regional bank headquartered in Cleveland, Ohio, offering a variety of financial services including retail and commercial banking, investment management, and consumer lending.

High-income professionals at Keybank are provided with comprehensive financial services. These include wealth management, specialized lending, and tailored banking solutions. They also have access to financial planning tools, investment strategy assistance, and estate planning. [ Read Review → ]

  • Minimum credit score: 700
  • Maximum loan: $3,500,000
Down payment Financing
0%up to $1 million
5%up to $1.5 million
15%up to $2 million
20%up to $3.5 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

Laurel Road

(All 50 States)

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Online

usually responds within 30 minutes

Laurel Road

(All 50 States)

$100M Closed Loans

Laurel Road, established in 2013, is a fintech company known for its online lending platform, providing student loan refinancing, mortgages, and personal loans.

High-income professionals can leverage Laurel Road's services for personalized financial solutions. The platform offers student loan refinancing, personal loans, mortgages, and high-yield savings accounts. It also provides digital banking services with attractive interest rates, emphasizing transparency and customer support. [ Read Review → ]

  • Minimum credit score: Not reported
  • Maximum loan: Varies
Down payment Financing
10%Varies
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

Northpointe

(All 50 States Except CA, NY)

Match Banks Contact Send Email

Online

usually responds within 30 minutes

Northpointe

(All 50 States Except CA, NY)

$100M Closed Loans

Northpointe, founded in 1999, is a Michigan-based online banking institution providing comprehensive financial services, including checking, savings, and loans.

High-income professionals can leverage Northpointe's comprehensive financial services, which include high-yield checking and savings accounts, competitive mortgage loans, and tailored lending options. The firm also offers personalized wealth management and investment strategies to optimize asset growth. [ Read Review → ]

  • Minimum credit score: 700
  • Maximum loan: $1,000,000
Down payment Financing
0%up to $850,000
10%up to $1 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • PharmD
  • DC
  • CRNA
  • NP
  • PA
  • JD
  • CPA
  • PhD
  • RN

PNC Bank

(All 50 States Except )

Match Banks Contact Send Email

Online

usually responds within 30 minutes

PNC Bank

(All 50 States Except )

$100M Closed Loans

PNC Bank, established in 1845, is a comprehensive financial services corporation offering a wide range of services including retail banking, asset management, and corporate banking.

High-income professionals can benefit from PNC Bank's tailored wealth management and financial planning services. These include investment advising, estate planning, and private banking. PNC also offers specialty services such as asset management for executives and business succession planning. [ Read Review → ]

  • Minimum credit score: 720
  • Maximum loan: $2,000,000
Down payment Financing
5%up to $1 million
10%up to $1.5 million
15%up to $2 million
20%Varies
Eligible degrees:
  • MD/DO
  • Fellow
  • Resident
  • DDS/DMD
  • DPM
  • DVM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

Key Terms

  • An Alaska physician mortgage loan comes with options for up to 100% financing.
  • You’ll pay no private mortgage insurance (PMI) if you go with a physician mortgage, even if you’re putting 0% down.
  • Doctor loan lenders treat student loan payments favorably by calculating based on income-driven repayment plans to make it easier to qualify for a mortgage.

Alaska is known to many as a cold state full of nothing but snow and long, long winter nights. As Alaskan residents know, the state actually has a lot more to offer than meets the eye. As America’s largest state, Alaska is home to the country’s largest national parks, longest coastlines, and some of the most breathtaking natural landmarks in the world. 

For many, owning a home in Alaska may seem out of reach. Data from the Alaska Department of Labor and Workforce Development shows the average sales price for single-family homes is $388,648 as of 2021. Nonetheless, the state had one of the fastest growing rates of homeownership in the country between 2019 and 2020 at 3.4%.  

Doctors and dentists who want to purchase a home in Alaska have the opportunity to participate in the state’s physician mortgage loan program. These programs allow the 2,000+ doctors in Alaska to purchase a house with a minimal down payment or none at all. Loan amounts, interest rates, and other lender rules will vary, so do your research in advance to find the best fit for you once you’ve located your dream property on the NMLS. The home buying process can help you start off in your new location based on a health care services role. Qualifying physicians moving to the state of Alaska can find a new home and finance it through the physician home loan process.

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Alaska physician loans: Weighing the pros and the cons

Doctor mortgages available in Alaska provide many professionals in the “Last Frontier” with the financing they need to purchase their primary home. As with any big financial decision, it is always a good idea to consider both the pros and cons before moving forward. Providers who have job offers as future full-time health care professionals can get a lot of benefits as borrowers when they understand the physician home loan opportunity.

Borrowers like new clinicians will have to provide their full contact information and the contact details for their new employer, too. Physician loans are a possible option for many different clinicians, such as those working in primary care, behavioral health, emergency care, and outpatient services.

What are some of the pros associated with Alaska physician loans? It makes for a pretty impressive list, and includes:

  • Little or no money down
  • Higher limits compared to conventional loans
  • No Private Mortgage Insurance (PMI)
  • Student debt will not impact your eligibility

There are some downsides to consider, too. These unique challenges might be outweighed by the benefits of purchasing real estate with a physician home loan. When deciding whether or not an Alaska doctor mortgage is right for you, remember that they can involve:

  • Taking on more debt
  • Higher allowable rates, on occasion
  • A bank expecting that you will become a customer (i.e. open an account)

Given the high limits on these financial products, Alaskan doctors and dentists taking out these loans could potentially commit themselves to more house than they need or can adequately budget for.

Get Quotes for Your Physician Loan

Is an Alaska physician mortgage loan a good idea for you?

Is an Alaska doctor mortgage the right option for you? There are a few questions you can ask yourself when making this decision. 

First, consider whether it is the best time for you to buy. Ask yourself:

  • Is your job one you foresee yourself staying with in the long term? Over time, even the best job may not be the best fit. It can take more than two years to determine whether you are in a job you want to commit to for years to come. If you are just starting a position, it may not be the right time to commit to a home purchase. 
  • How much home can you afford? Putting 0 down on a home can also make you feel like you can afford more house than you should. Financial experts often advise keeping a home purchase to around two times your annual salary. Committing to a doctor mortgage in Alaska comes with a lot of benefits, but you don’t want to get into a scenario where your mortgage becomes unaffordable for you. 
  • Is getting the lowest rate important to you? Some professionals considering these loans may also want to find the lowest rates possible. Since conventional loans with 20 percent down are usually the best answer to finding a low rate, some doctors may want to forego a physician mortgage, save toward that down payment and get that lower rate. 

Of course, while a physician loan in Alaska comes with some compromises, you do get to establish a solid, long-term relationship with a bank. After all, banks created these products in order to do just that with professionals like you. Entering into one of these mortgages can leave you with a strong financial product throughout your life and career.  

Examples of Alaskan doctors using physician loans

Who are some of the doctors in Alaska taking advantage of physician mortgage loans? The following narratives are good examples of the professionals who are ideal matches for a doctor mortgage. 

Physician who hasn’t saved up a down payment

Ed committed a lot to becoming a doctor, taking out big student loans and working hard at school. Now that he is starting a residency in orthopedics at Providence Alaska in Anchorage, it seems clear that his career is on track and he will soon be earning an impressive salary. 

The problem is that Ed has very little money to put down on a traditional mortgage. An Alaska bank that is known for their physician loans seems like the best way forward; he can get that mortgage with no money down and will likely have a good financial partner in that bank as his career flourishes. 

Dermatologist who wants to maximize leverage

Maxine has established one of the most popular dermatology practices in Anchorage and has managed to build up her savings. A few years back, she invested part of her savings in a portfolio, and it has been performing reliably. She wants to maximize her leverage and keep her investments in place for the time being. Rather than liquidate those holdings to get the cash for a down payment, Maxine decided to go with a doctor mortgage with no money down from a prominent local lender. 

Looking for a physician loan in a different state?

If you’re looking to explore the best physician loans in other states, click on your state below.

Find a Physician Loan Specialist

Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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