Fifth Third Bank Physician Loan Program

Looking for a physician mortgage to fund your house purchase? Fifth Third Bank has a competitive with some advantages and disadvantages worth considering.

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Key Terms

  • This program is available to new and established dentists and doctors, as well as residents and fellows, interested in buying a home with a loan of up to $750,000 with 100% financing with Fifth Third Bank.
  • Established physicians can get access to a mortgage of up to $2M with 10% down and no PMI and also choose to refinance their existing home.
  • FYI: Fifth Third Bank has comprehensive loan services but only operates in ten states.

As a medical professional, being able to access a quality mortgage is essential. Whether you’re looking to buy your first home ever or wanting to refinance your existing one, having access to the credit you need can be integral to your financial future. 

At Fifth Third Bank we realize many doctors, dentists, and other medical professionals may be carrying a substantial amount of student debt. Research shows the average medical school graduate has between $200,000 and $300,000 in student loans to pay off. Your skills are needed and matter, however, and we believe you should be able to leverage the power of your potentially lucrative future to get ahead. 

What are the benefits? Fifth Third’s physician mortgage loans gives borrowers access to mortgages with a low down payment with no private mortgage insurance required. This can allow you to get ahead of spiraling tuition fees and build a solid financial future. 

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Advantages and disadvantages of Fifth Third Bank physician mortgage loans

Fifth Third, headquartered in Cincinnati, OH, has several mortgage options and loan terms to choose from when it comes to physicians loans. Here’s a look at what this bank has to offer and how you can benefit.  


Establishing a physician’s mortgage with Fifth Third Bank presents numerous advantages. 

Purchase a home with no money down. Fifth Third has mortgages for new physicians, which includes residents, fellows, and physicians who have been practicing for less than 1 year, as well as established physicians, that require no down payment. You can get access to: 0% down up to $750,000.

Being able to purchase a home without a down payment means you can jumpstart your financial future. You don’t need to have set money aside in the journey to home ownership. This means you can put your money towards paying off your debts, your mortgage payments, investing, and saving for the future. 

Further options for established physicians. With Fifth Third, established physicians who have been practicing out of training for more than one year can also have access to:

  • 5% down up to $1,250,000
  • 10% down up to $2,000,000

Many mortgage lenders require you to supply at least 20% of the total value of your home upfront as a down payment. With this physicians loan, you get ahead faster and establish a solid base from which to grow with access to an exclusive, smaller down payment.  

You can choose from a fixed or adjustable rate mortgage (ARM) to find the solution that best suits your needs. Interest rates will depend on credit score, market conditions and other factors.

Refinancing available. Many doctor’s mortgage programs are restricted to financing the purchase of a home for first-time buyers. This doctor’s mortgage program, however, allows you to also refinance an existing home. If you have been practicing for a while and want to access additional credit for a home renovation, for example, a refinance loan could be an ideal choice. 

Widely accessible. This physician’s mortgage is available to:

  • fellows
  • residents
  • medical doctors
  • osteopaths
  • dental surgeons (DDS)
  • dentists (DMD)
  • podiatrists (DPM)
  • optometrists

Also available to veterinarians. Fifth Third is one of the few major financial institutions in the US to offer a specialized home loan to veterinarians. This can be a huge advantage for graduating vets who, like med students, may also carry substantial student loans that can stand in the way of home ownership via a traditional home mortgage. 

Lower potential monthly payments. With Fifth Third, you don’t need to pay for private mortgage insurance (PMI) when you get a physician’s loan. No PMI means you pay thousands less in fees each year, resulting in lower monthly payments. This can add up over time to substantial levels of savings. More money in your pocket is always a good thing. 


As with any specialized mortgage program, Fifth Third’s has a few drawbacks. 

Limited geographic availability. Fifth Third doesn’t operate nationwide in the US. You can only obtain a physician’s loan from them in: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, Tennessee, and West Virginia.

Not available to researchers. Unlike some other doctor’s mortgage programs, this one isn’t available to researchers or professors in medical fields. 

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How to apply

Applying for a Fifth Third’s doctor loan program is easy. Visit the bank’s website online at and start by entering some basic personal information. This includes your full name, phone number, email address, and some information about the property you wish to buy. Fifth Third will ask you to identify your:

  • Loan purpose
  • Desired loan amount
  • Property location
  • Property zip code

This is then submitted to the bank and a loan specialist will be alerted to contact you to discuss your options and move forward. 

You can also contact the Fifth Third mortgage division directly at: (800) 473-6934

When applying for a mortgage, you will often need to provide additional information to the loan officer that can include:

  • a letter indicating your offer of acceptance for a residency/fellowship
  • your recent tax returns
  • credit score and information related to your present debt
  • proof of education
  • social security number
  • recent bank statements

Is using a Fifth Third Bank doctor mortgage a good idea?

A Fifth Third doctor mortgage can be ideal if you’re graduating from a medical program, or you’re a newly established medical professional with or without substantial debt and you’re interested in home buying or refinancing a home. 

The opportunity to be approved for a real estate mortgage of up to $750,000 with 100% financing can be invaluable. This can allow you to get you ahead in your financial future by purchasing a new home. Contact Fifth Third today or complete the online mortgage inquiry process to get started. 

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Joshua Holt

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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