Physician's Mortgage

     

Physician's Mortgage Details

Designed to meet your unique needs as you transition from medical school to practice, our Physician's Mortgage offers: Happy family looking at new home

  • Up to 100% financing* and a set payment for the life of your loan.
  • A competitive APR won't be affected by changes in the markets.
  • A term of 10, 15, 20, or 30 years** depending on your budget and goals.
  • No private mortgage insurance (PMI) required!

 

JHFCU's fixed-rate physician's mortgage is available for MDs and DOs currently in residency or fellowship, OR less than 10 years out of residency.

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Features of a Physician's Mortgage

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100% Financing

Qualified buyers can get 100% financing with no Private Mortgage Insurance.

 

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Fixed Rates

Budgeting is easy with the same competitive rate for the life of your loan.

 

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Choice of Terms

We offer fixed-rate loan terms between 10 and 30 years to fit your goals.

 

 

    

Enjoy These Benefits With Your Fixed-Rate Mortgage

No Down Payment Requirement

With up to 100% financing, borrowers can avoid the need for a large down payment, making it easier for new physicians to purchase a home.

Student Loan Flexibility

By excluding deferred student loans from the debt ratio calculation, the loan is more accessible for new doctors who may have significant educational debt, allowing them to qualify for a higher loan amount.

Flexible Loan Terms

Offering loan terms of up to 30 years provides flexibility in choosing a repayment plan that aligns with your budget and financial goals.

Tailored to Physicians

This loan is specifically designed with the needs of medical professionals in mind, acknowledging that many doctors are in a unique financial situation early in their careers.

Helpful Service

Our experienced loan officers can guide you through the qualifying process and beyond.

Easy Payments

Just transfer funds from your JHFCU Checking or Savings to your mortgage account.

 

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 Mortgage Resources

 

 More Home Financing Options for You

80/10/10 Mortgage

Avoid private mortgage insurance with this custom loan option: 80% is financed as a first mortgage, 10% as a second mortgage, and 10% comes from your down payment.

 

Learn More

HomeFree Home Loan

If you have significant equity in your home, you could enjoy the benefits of a refi without the closing costs. Potential to lower your rate or change your term.

 

Learn More

Home Equity Loans and Lines of Credit

Leverage the equity in your home to pay for renovations, weddings, college, debt consolidation, and more.

 

Learn More

The credit union will lend on one-unit residential properties in Maryland, Pennsylvania, Delaware, Virginia, and the District of Columbia.  Properties must be owner-occupied as a primary residence.  Property condition must be acceptable as demonstrated by an appraisal with an interior and exterior inspection.  The credit union will not lend on properties in poor condition (C6 condition ratings on the appraisal will be unacceptable; C5 condition ratings will require repair prior to closing or an escrow hold-back for repairs).  Properties must be suitable for year-round occupancy.

*Rates are determined by an evaluation of the applicant’s credit, loan term and loan-to-value (LTV). Down payment of up to 3% may be required. Payments do not include amounts for taxes or insurance premiums, if applicable, actual payment obligation will be greater. Property and flood insurance may be required. Other restrictions may apply. 

**Not available for home equity products or the HomeFree loan. Cannot be redeemed for cash or used in conjunction with any other offer. Limited offer. Some restrictions may apply. Subject to change.