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First Horizon Bank

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Program Details

Program Details

Program Details

Loan Program Details:

  • Up to 100% financing available for loan amounts up to $1.5 million.

  • 5% down payment required for loan amounts up to $2 million.

  • 10% down payment required for loan amounts up to $2.5 million.

  • No Private Mortgage Insurance (PMI) required.

  • Minimum credit score: 670 with out rate increases.

  • No restrictions on time out of Residency/Fellowship which other lender have

  • Loan can close up to 6 months before the start date, provided there is a signed employment agreement.


Eligibility Requirements:

  • Applicants must be active Medical Doctors (MD, DO), Dental Surgeons specializing in oral surgery (OMS), or Doctors of Podiatric Medicine (DPM) with a license to practice in the U.S.

  • Borrowers in residency or fellowship are also eligible, provided they submit evidence of employment.

Eligible States: AL, AR, GA, FL, LA, MS, NC, SC, TN, TX, VA

Subject Property must be within 100 miles of a First Horizon Bank Branch.

Terms

Terms

Terms

  • 100% financing up to $1,500,000

  • 95% financing up to $2,000,000

  • 90% financing up to $2,500,000

  • No PMI

  • No restrictions on time out of residency

  • Very low reserve requirements

  • Minimum credit score: 680

  • Can close up to 6 months prior to employment start date

  • Condos allowed

  • 100% financing up to $1,500,000

  • 95% financing up to $2,000,000

  • 90% financing up to $2,500,000

  • No PMI

  • No restrictions on time out of residency

  • Very low reserve requirements

  • Minimum credit score: 680

  • Can close up to 6 months prior to employment start date

  • Condos allowed

Strengths

Strengths

Strengths

  • Flexible underwriting compared to traditional lenders

  • No residency lookback limits

  • High loan limits with low down payment options

  • Helpful for physicians turned down elsewhere

  • Strong option in competitive housing markets

Strengths

  • Flexible underwriting compared to traditional lenders

  • No residency lookback limits

  • High loan limits with low down payment options

  • Helpful for physicians turned down elsewhere

  • Strong option in competitive housing markets

Disclaimers

Disclaimers

Disclaimers

  • Program availability, rates, and terms are subject to change

  • Credit approval required and subject to underwriting guidelines

  • Property type and occupancy requirements apply

  • Not all borrowers will qualify for maximum financing

Disclaimers

  • Program availability, rates, and terms are subject to change

  • Credit approval required and subject to underwriting guidelines

  • Property type and occupancy requirements apply

  • Not all borrowers will qualify for maximum financing

Eligible Degrees

Eligible Degrees

Eligible Degrees

DC

DDS/DMD

Fellow

Intern

MD/DO

CRNA

NP

OTD/MOT

OD

PharmD

DPT

PA

DPM

DPM

RN

Resident

= Eligible

= Not Eligible

Eligible Degrees

DC

DDS/DMD

Fellow

Intern

MD/DO

CRNA

NP

OTD/MOT

OD

PharmD

DPT

PA

DPM

DPM

RN

Resident

= Eligible

= Not Eligible

Approved States

Approved States

Approved States

AL

AZ

FL

GA

LA

MO

NC

SC

TN

TX

VA

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