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JD MORTGAGE® connects you with lenders offering low to no down payment mortgages designed specifically for high-income professionals. We find the lenders that allow jumbo loan balances, relaxed debt-to-income ratios and typically do not require private mortgage insurance (PMI).
Offered exclusively through Biglaw Investor, we make it incredibly simple to find the best mortgage for your home financing needs.
I’m an associate at a firm in Houston and used JD Mortgage thanks to your advice! The experience was great—they were super fast and responsive.” —Mary Kate Raffetto Beck Redden LLP
For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.” —Clint Cowan Lynn Pinker Hurst & Schwegmann
Known to many as the “Buckeye State,” Birthplace of Aviation”, or “The Heart of It All,” Ohio is bordered by Lake Erie as well as Pennsylvania, Kentucky, Indiana, and Michigan. It was the 17th state and joined the United States in 1803. It is home to numerous professional sports teams and popular tourist sites, as well as over 34,000 working doctors.
Home buying in Ohio may seem as though it is something that may be a challenge. According to the Ohio Realtors Association, the sales price of a home in the state is $277,452. Obviously, the price is higher in the big cities such as Cincinnati, Columbus, Cleveland and Dayton.
An Ohio physician mortgage loan program will allow qualified health professionals buying or refinancing a home in the state to obtain better terms and different payment options. This program may help qualified people enter homeownership without a large down payment and, for some, no down payment.
There are both pros and cons that come with these financial products. Many doctors and professionals in Ohio find that the pros far outweigh any downsides. What are those pros? One pro that many Ohio doctors enjoy is the higher loan amounts you can get with these mortgages. That translates into more buying power on the housing market.
Many also like the fact that physician loans give special consideration to student debt repayments— something that can sometimes disqualify you for a conventional loan. These mortgages don’t require that you take out Private Mortgage Insurance, either, saving you money.
What are the cons involved? You may end up spending more than you should with those high limits. Interest rates may be higher, as well. Your lender, too, may want you to open up a savings or checking account with them before confirming your loan.
If you’re in the market for a home in Ohio, consider these physician mortgage loans that are available to state residents.
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Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)
$10M+ Closed Loans
Keybank is a major national bank based in Ohio with a competitive doctor mortgage program. They also lend across a large part of the United States.
The Keybank doctor mortgage program does not require you to be a minimum or maximum number of years out of medical school to qualify. They also offer large mortgage options if needed and part of your down payment can be supplied in money that you've received as a gift. [ Read Review ]
Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 15% | above $2 million |
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usually responds within 30 minutes
Medical doctor (MD/DO), Dentist (DMD/DDS), Veterinarians (DVM)
$10M+ Closed Loans
Alerus is a national bank but one that you might not know. They are headquartered in North Dakota but provide mortgage across the country.
Alerus has some other interesting features, including a $20,000 closing guarantee. It's a benefit paid to the seller if the loan doesn't close per the terms of the pre-approval letter. In other words, it's something you can use to make your offer look more attractive in a competitive market. [ Read Review ]
Medical doctor (MD/DO), Dentist (DMD/DDS), Veterinarians (DVM)
| Down payment | Financing |
|---|---|
| 0% | up to $750 thousand |
| 5% | up to $1 million |
| 10% | above $1.5 million |
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usually responds within 30 minutes
Medical doctor (MD); Dentist (DMD, DDS); Podiatrist (DPM), Veterinarian (DVM), Fellows, Residents
$500M+ Closed Loans
Huntington Bank operates primarily out of the Midwest.
Huntington's mortgage group can service a large part of the country. Huntington has a competitive physician loan product with no money down financing options.. You can close a Huntington Bank loan prior to starting new employment as long as you have an employment contract in hand. [ Read Review ]
Medical doctor (MD); Dentist (DMD, DDS); Podiatrist (DPM), Veterinarian (DVM), Fellows, Residents
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.25 million |
| 10% | $2 million |
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usually responds within 30 minutes
Medical doctor (MD); Dentist (DMD, DDS); Fellows, Residents
$500M+ Closed Loans
Citizens Bank is one of the largest banks in the United States. We bet you didn't know that it is head-quartered in the smallest state: Rhode Island.
With over $160 billion in assets, it's no surprise that Citizens offers a full range of financial products, including a physician loan. New medical professional graduates who are under contract for residency within 60 days of closing and have not yet obtained a license are eligible. No more than 10 years out of residency. Self-employed professionals are eligible with a two-year history of self-employment income. [ Read Review ]
Medical doctor (MD); Dentist (DMD, DDS); Fellows, Residents
| Down payment | Financing |
|---|---|
| 5% | up to $850 thousand |
| 10% | up to $1 million |
| 15% | up to $1.5 million |
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usually responds within 30 minutes
Medical doctor (MD, DO); Dentist (DMD, DDS); Optometrist (OD); Veterinarian (DVM), Fellows, Residents
$50M+ Closed Loans
Fifth Third is a large bank with an established doctor mortgage loan program that is available to doctors, dentists, optometrists and veterinarians.
The Fifth Third physician mortgage program is also available for innterns, residents or fellows that are starting their residency within 90 days of closing on a new home. [ Read Review ]
Medical doctor (MD, DO); Dentist (DMD, DDS); Optometrist (OD); Veterinarian (DVM), Fellows, Residents
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 10% | up to $2 million |
• Online
usually responds within 30 minutes
Medical doctor (MD, DO); Dentist (DMD, DDS); Veterinarians (DVM), CRNA, Fellows, Residents
$50M+ Closed Loans
First National Bank of Pennsylvania is the second largest bank based in Pennsylvania and has an aggressive doctor mortgage program with 0% financing up to $1.25 million.
The First National Bank of Pennsylvania physician mortgage program is open to most medical professionals and has a construction to permanent loan option available for medical professionals that want to combine the benefits of a doctor mortgage with a new construction custom build home. [ Read Review ]
Medical doctor (MD, DO); Dentist (DMD, DDS); Veterinarians (DVM), CRNA, Fellows, Residents
| Down payment | Financing |
|---|---|
| 0% | up to $1.25 million |
| 10% | up to $1.5 million |
• Online
usually responds within 30 minutes
Medical doctor (MD, DO); Dentist (DMD, DDS); Lawyer (JD), Doctorate degree-holders (PHD), Fellows, Residents
$50M+ Closed Loans
S&T Bank is located in Indiana, Pennsylvania and was founded in 1902 mainly serving Pennsylvania and Ohio.
The S&T Bank physician mortgage program is also available to lawyers and PHD holders, making it broader than other programs. No private mortgage insurance is required and low down payment options are available for high loan amounts. [ Read Review ]
Medical doctor (MD, DO); Dentist (DMD, DDS); Lawyer (JD), Doctorate degree-holders (PHD), Fellows, Residents
| Down payment | Financing |
|---|---|
| 5% | up to $1 million |
| 5% | up to $2 million |
| 5% | up to $3 million |
• Online
usually responds within 30 minutes
Medical doctor (MD/DO); Dentist (DMD, DDS), Podiatrist (DPM), Fellow, Resident
$500M+ Closed Loans
Truist was formerly known as SunTrust and has historically been a strong player in the doctor mortgage world, thanks to a strong physician home loan program.
Medical professionals with a job offer can close up to 90 days prior to the start date. For doctors and dentists with 10 to 15 years post-training experience, 89.99% financing is available for up to $1.5 million. Truist won’t let you borrow outside of your debt-to-income ratio of 43%, but your student loan payment can be excluded from the debt component if the student loans are deferred for at least 12 months at the time of closing. [ Read Review ]
Medical doctor (MD/DO); Dentist (DMD, DDS), Podiatrist (DPM), Fellow, Resident
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 20% | up to $2 million |
• Online
usually responds within 30 minutes
Medical doctor (MD/DO); Lawyers(JD), Residents, Fellows
$500M+ Closed Loans
US Bank has a great doctor mortgage program but it isn't advertised on the bank's website. You'll have to contact them directly.
US Bank is able to lend in all 50 states, meaning this program is available to most of the country's doctors and physicians. The downside is that the program is fairly limited. For example, dentists, pharmacists and nurses aren't eligible. [ Read Review ]
Medical doctor (MD/DO); Lawyers (JD), Residents, Fellows
| Down payment | Financing |
|---|---|
| 5% | up to $1 million |
| 10% | up to $1.5 million |
| 15% | up to $2 million |
• Online
usually responds within 30 minutes
Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)
$10M+ Closed Loans
Laurel Road used to be an independent bank but is now owned by Keycorp and part of the Keybank family. They focus on financial products for healthcare professionals.
Laurel Road has a middle of the road doctor mortgage program. It's available in all 50 states but limited to healthcare professionals and only goes up to $1 million. Retired doctors are not eligible. [ Read Review ]
Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
• Online
usually responds within 30 minutes
Medical doctor (MD, DO); Dentist (DDS, DMD); Veterinarian (DVM), Resident, fellows
$50M+ Closed Loans
The Federal Savings Bank is a nationwide mortgage lender, although their physician program isn't available in all states.
The Federal Savings Bank's physician mortgage program is available for primary residences, including 1-2 unit residential properties (although you can't use the rental income from the other unit to meet the DTI requirements). The bank can work with 1099 income and can close on mortgages up to 90 days prior to starting a job. They can also handle mortgages with H1B visa holders. [Read Review]
Medical doctor (MD, DO); Dentist (DDS, DMD); Veterinarian (DVM), Resident, fellows
| Down payment | Financing |
|---|---|
| 0% down | up to $1 million |
| 5% down | up to $1.25 million |
| 10% down | up to $2 million |
What do you need to look at to determine whether one of these mortgages is right for you? To begin, take a good hard look at your career. Are you in a job that you are happy with and one that you will stick with for years? Being at a stable point in your career is an important part of committing to a mortgage.
Consider your overall financial picture, as well. A lot of student debt, even with a good income, can make it hard to qualify for a conventional loan. In that scenario, you may need to go with a physician loan in order to purchase your primary residence. Otherwise, you will need to wait until you pay that debt down or your rising income swings the dial on your DTI ratio.
Doctors and health care professionals just like you are taking out physician loans from Cincinnati to Cleveland and beyond. Who are these doctors? Their stories may sound familiar.
Greer has worked hard to become a pediatrics resident at Ohio State East. She’s at a point in her life and career where she wants to settle in and buy a home nearby. Doing that would mean wiping out her hard earned savings, however. She’s considering whether that risk is worth it. Since a local lender is offering doctor mortgages to physicians like her, she has a more than viable alternative that will allow her to finance a home with zero money down and hold onto those savings.
With a residency lined up at OhioHealth Mansfield, Charles, a primary care physician, is on his way to real success in his medical career. The contract has been signed on the dotted line and the perfect house has just gone on the market down the street from the hospital. His job doesn’t start for 60 days, however, and conventional lenders aren’t happy about that.
Fortunately for Charles, another lender offering a doctor mortgage is fine with his signed contract and doesn’t need pay stubs to approve him for the loan. With the physician loan, he is able to get the house he always wanted weeks before he has even started his new job.
If you’re looking to explore the best physician loans in other states, click on your state below.
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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