Unlocking Homeownership for Physicians: TD Bank’s Physician Mortgage Program
December 27, 2024
TLDR
Physician mortgages can be one of the most powerful tools in the home-buying world for doctors—especially when you’re early-career or relocating. Neil Surgenor explains that TD Bank’s physician loan is designed to remove the usual barriers: low-to-no down payment, no PMI, strong pricing, and flexibility around student loans and start dates (including the ability to close up to 90 days before a new job starts). The bigger message: the best results come from having a lender and agent who actually understand physician income, timelines, and how often your career can force a move.
When you’re choosing between options, don’t just rate-shop—compare fixed vs. ARM, look at APR (fees matter), and pay attention to responsiveness because service can make or break a physician deal. For residents and fellows, an ARM can line up better with likely relocation windows, while some attendings may prefer low down payment options that keep cash available and still give flexibility later. If you want help with TD Bank’s physician mortgage program, the article points you to Neil Surgenor directly.
The Appeal of Physician Mortgages
According to Neil Surgenor, a seasoned Mortgage Loan Officer at TD Bank, the physician loan is one of the most aggressive products available today. “It allows for little to no down payment, no private mortgage insurance (PMI), no funding fee, and stellar pricing,” he explains. Notably, these loans offer unique flexibility—for example, physicians can close up to 90 days before starting a new job and benefit from accommodations for student loans. These features make the program particularly appealing to both new residents and seasoned attendings.
Tailoring Solutions to Physicians’ Needs
Building trust with physician clients starts with understanding their profession, income structure, and financial priorities. “Each physician is unique, and their financing is tailored to what is best for them,” Neil shares. This bespoke approach extends to addressing common misconceptions, such as the belief that physician loans are more expensive than traditional options. In reality, physician loans often come with competitive rates and fees.
Guidance for First-Time Buyers
For physicians navigating the home-buying process for the first time, obtaining pre-approval is essential. Knowing your buying power allows you to shop confidently. Neil emphasizes the importance of partnering with professionals who specialize in physician loans, including both a knowledgeable banker and a real estate agent.
Residency adds another layer of complexity, as residents often need to plan for potential relocations for fellowship or attending roles. In such cases, adjustable-rate mortgages (ARMs) might make more sense than fixed-rate loans. For newly minted attendings with limited liquidity, lower down payment options with a recast provision can offer the flexibility they need to stabilize their finances.
Choosing the Right Mortgage Option
When comparing mortgage options, physicians should consider several key factors:
Loan Terms: Fixed-rate versus adjustable-rate mortgages.
Annual Percentage Rate (APR): Look beyond the interest rate to evaluate lender fees, funding fees, and PMI.
Customer Service: The responsiveness and expertise of your mortgage banker can make or break the experience.
A Trusted Team with Proven Expertise
Neil Surgenor is backed by one of the top-performing teams in the nation. With a combined 101 years of mortgage experience and a consistent ranking in the top 1% nationwide by volume, this team has helped thousands of physicians achieve their homeownership dreams. “It’s an honor to assist physicians in building their family homes with a product they deserve,” Neil proudly states.
Staying Ahead of Industry Changes
Specializing in physician mortgages requires staying current with market conditions, updated guidelines, and regulatory changes. This commitment to expertise ensures that physicians receive advice and products that align with their specific needs and the latest industry standards.
Why Physicians Choose TD Bank’s Physician Mortgage
At the heart of TD Bank’s program is a dedication to meeting the unique demands of physicians. From accommodating fast-paced schedules to providing a product with unparalleled benefits, this program stands out as a valuable resource for medical professionals. “Getting physicians into their homes with a product they deserve is what we love most about this work,” Neil concludes.
For personalized assistance with TD Bank’s Physician Mortgage Program, contact Neil Surgenor:
Email: neil.surgenor@td.com
Phone: (212) 933-9900
Neil is ready to guide you every step of the way in achieving your homeownership goals with confidence.
