A National Bank

A National Bank: CO, IL, IN, KY, MI, MN, ND, OH, PE, SD, WV, WI


– We service all our Physician Loans and do not sell or transfer the loan to another servicer and the Dr. Program has been in place going on 14 years and I specialize in Physician Loan Financing.

-Medical doctors, dentists and Veterinarians with M.D, D.O., D.V.M, D.P.M, D.D.S or D.M.D degree and an employment contract, Medical Doctors including podiatrists and Ophthalmologists are permitted.

-1 to 2 unit Principal Residence, PUDS, Townhome and Condos           (Non-warrantable condos limited to 90% LTV )

-Up to 100% financing with no PMI for loan amounts up to $1,000,000

-Up to 95% financing with no PMI for loan amounts $1,001,000 to $1,250,000

-Up to 90% financing with no PMI for loan amounts $1,250,001 to $2,000,000

-Refinance options available: (Up to $250K cash out available)

-Student loans in deferment for at least 12 months excluded from debt to income ratio or if IBR can utilize income-based student loan payment calculator

-Available loan products:  30 Year Fixed, 15 Year Fixed,  15/1 arm, 10/1 arm, 7/1arm, 5/1 arm, 3/1 arm (Amortized over 30 years)

-700 Minimum Credit Score           ( Allowable to 680 with down payment of 5 to 10% depending on loan amount )

-Maximum DTI of 50%

-Closing may occur prior to employment start date with an acceptable signed contract and start date

-Gift Funds allowable, can be applied to down payment, closing costs or cash reserves

-No closing cost rate options available

All of the loan officers listed  here specialize in working with doctors ONLY. They are battle tested, seasoned, and recommended by your peers.

Do you want Ken to contact you?

Ken J Schmidt (NMLS# 697466)
[email protected]

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