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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
Wyoming is a western state noted for its beautiful mountain ranges. It is home to some of the best national parks, featuring dense wildlife and a diverse ecosystem. Some people come for the history here while others love the hot springs and natural wonders. The area is far removed from an urban landscape but offers numerous benefits to home buyers nonetheless, including the over 1,100 working doctors living in the state.
The Wyoming Realtors Association reported that there was a 13% increase in home prices across the state over last year, and many real estate experts believe those increasing prices will continue into the future. Recent estimates place the average new home price in Wyoming is $370,000, according to the Wyoming Business Report.
For practicing physicians and dentists hoping to buy or refinance real estate in Wyoming this year, the doctor loan program may make it a bit easier to do so. In addition to loan forgiveness programs and loan repayment programs, these programs are designed specifically for qualified medical professionals.
For borrowers that meet that requirement, benefits such as low down payments or none at all may make it a loan program worthy of consideration.
If you are interested in a doctor mortgage in Wyoming, you will want to consider the pros as well as the cons of these loans. The pros are tailored to the specific needs of doctors and include:
The downside of a Wyoming physician mortgage loan is that you may get all of that at a higher interest rate. Many Wyoming professionals consider that a fair exchange for all these benefits. You may also be required to open a checking or savings account with your lender as part of the package, but this can benefit you in the long term.
If you’re ready to learn more about the best physician mortgage lenders in Wyoming, here are the top options we’ve found through our research.
• Online
usually responds within 30 minutes
Medical doctor (MD/DO); Dentist (DMD, DDS), Pharmacist (Pharm D), Attorney (JD), Veterinarian (DVM), Physician Assistant, Registered Nurse (RN/NP/CRNA), ATP Pilots, CPA
$500M+ Closed Loans
Flagstar Bank was chartered in 1987 and holds around $23 billion in assets, making it a medium sized bank. However, they punch above their weight when it comes to mortgages.
The bank is the sixth largest bank mortgage originator nationally. They only offer ARM products when it comes to doctor mortgages but their ability to lend in all 50 states means they're a player at every closing. There is no application fee or prepayment penalties. They also offer a float down, buy down, and recast option. [ Read Review ]
Medical doctor (MD/DO); Dentist (DMD, DDS), Pharmacist (Pharm D), Attorney (JD), Veterinarian (DVM), Physician Assistant, Registered Nurse (RN/NP/CRNA), ATP Pilots, CPA
| 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), 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 |
• Online
usually responds within 30 minutes
Medical doctor (MD/DO); Dentist (DMD, DDS), Fellow, Resident, Physician Assistant (PA), Nurse Practitioners (NP), Veterinarians (DVM), Attorneys (JD), Certified Financial Analyst (CFA), Certified Public Accountant (CPA)
$500M+ Closed Loans
First National Bank of Omaha (FNBO) has one of the most expansive professional mortgage programs on the market with the ability to finance multiple degree types.
Unfortunately, they have a small lending footprint, including only being able to lend in Texas in the Dallas/Fort Worth area. We're always trying to convince them to expand the program and recently they added the ability to finance condos. [ Read Review ]
Medical doctor (MD/DO); Dentist (DMD, DDS), Fellow, Resident, Physician Assistant (PA), Nurse Practitioners (NP), Veterinarians (DVM), Attorneys (JD), Certified Financial Analyst (CFA), Certified Public Accountant (CPA)
| Down payment | Financing |
|---|---|
| 0% | up to $850 thousand |
| 5% | up to $1.25 million |
| 10% | up to $1.5 million |
• Online
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 |
• Online
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 |
• 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 (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 |
• 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); Dentist (DMD, DDS); Optomestrist (OD); Podiatrist (DPM); Fellows, Residents
$500M+ Closed Loans
Bank of America is one of the original lenders (if not THE original lender) in the physician mortgage space. With over $3 trillion in assets, it’s one of the largest banks in the United States and chances are good that you are familiar with the company.
The Bank of America physician mortgage program is available for residents and fellows with a job lined up. They can close on a home 90 days before they start. You can often exclude your student debt from your total debt when you apply for a mortgage. [ Read Review ]
Medical doctor (MD); Dentist (DMD, DDS); Optomestrist (OD); Podiatrist (DPM); Fellows, Residents
| Down payment | Financing |
|---|---|
| 5% | up to $1 million |
| 10% | up to $1.5 million |
| 20% | up to limit |
• Online
usually responds within 30 minutes
Medical doctor (MD); Dentist (DMD, DDS)
$500M+ Closed Loans
PNC Bank is an established player in the mortgage industry that ranks 8th largest by total assets in the country.
PNC Bank's doctor mortgage program is a specialized loan offering designed to assist medical professionals in achieving their homeownership goals. The program offers a low down payment, no private mortgage insurance requirement, and higher loan limits. It caters to a wide range of medical professionals including MDs, DOs, DDSs, DMDs, and others, even allowing residents and fellows to qualify. [ Read Review ]
Medical doctor (MD); Dentist (DMD, DDS)
| Down payment | Financing |
|---|---|
| 5% | up to $1 million |
| 10% | up to $1.5 million |
| 15% | up to $1.765 million |
If you are wondering whether a physician mortgage loan is the right choice for you in today’s marketplace, ask yourself a few questions. Are you happy in your current job, and do you plan on staying in that position? Are you satisfied with where you are in Wyoming, and do you have no plans to relocate anytime soon? If so, a doctor mortgage can be a great answer to your needs.
Assess your financial picture, as well. While these loans do extend a wide array of doctor-friendly benefits, they can come with higher interest rates. If that is money you consider well spent, a physician loan is right for you.
From Jackson to Cheyenne, doctors, dentists and other professionals in Wyoming are enjoying the benefits of physician loans. Do their stories align with yours? Chances are, they do.
Having grown up in Jackson Hole, Andrew never had plans to leave. Why would he, given the charm of the town and the stunning vistas of the Tetons. Andrew built his dental practice up from scratch and has been paying down his student debt slowly but surely.
The payments are hurting his debt-to-income ratio, however, and some conventional lenders are telling him he won’t qualify for a mortgage. A physician loan is the perfect answer; a local lender offering one of these products gives special consideration to his debt, understanding that it is not ‘bad’ debt, but a necessary investment in Andrew becoming a high-earning professional.
Sarah has always wanted to purchase a home near Cheyenne Regional Medical Center where she is doing her residency. With prices as high as they are, she would need at least 75k to put 20 percent down on a conventional loan. That’s not possible at the moment, but she does have the option of going with a physician loan.
A lender in the area has told her that she is pre-qualified for a mortgage with 100 percent financing, since she is on track to be a high-earning professional. She decides to go with this option and is able to purchase a charming rancher within 10 minutes of work.
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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