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Physician Loans

Physician One Loan Program 

Physician One is a mortgage loan program designed to accommodate the unique financial needs of physicians1.  Whether you have large amounts of deferred student loan debt2, need to move into a home before starting your first job, or have been practicing medicine for many years, our Physician One Loan Program can help.  We can provide flexible financing to doctors, dentists and veterinarians at any career stage.

Best For You If:

You are finishing your medical residency or are a practicing physician seeking home ownership.

  • Financing available on 5/1 Adjustable Rate Mortgages (ARMs)
  • Purchase and rate-and-term refinance options available
  • Financing available for single family dwellings, detached or attached condos and Planned Unit Developments (PUDs)
  • Loan amounts available up to $1,000,000 with no mortgage insurance requirements
  • Loan amounts available up to $500,000 for Medical Residents with proof of fully executed employment contract
  • Gift funds allowed towards down payment, closing costs and reserves 3
  • Zero down payment opportunities available with certain eligibility requirements 4
Eligibility Requirements
  • 1Available to medical doctors who have a minimum of a Medical Doctor (MD), Doctor of Osteopathy (DO), Doctor of Dental Surgery (DDS), Doctor of Dental Medicine (DMD) degree and an employment contract or verification of terms of employment acceptance. Medical Doctors with the degrees listed above but specializing in a particular field including but not limited to Dentists, Podiatrists and Ophthalmologists are also permitted. A Doctor of Veterinarian Medicine (DMV) is eligible.
  • 2 Student loan debt must be in deferment or forbearance for 12 months after loan closing to avoid being counted in your debt-to-income calculations.
  • 3 The donor must be an immediate family member or domestic partner who lives with the borrower. 
  • 4 Available on loan amounts up to $500,000.  Must be purchase of a primary residence in Michigan and borrower must have a minimum credit score of 700 to be eligible.  Zero down does not exclude closing costs and/or prepaids that may be required.

All loans are subject to credit approval. Programs are available only to qualified borrowers. Not all applicants will qualify for all program benefits.  Please contact Level One Bank to learn more about the program and the eligibility requirements. Programs are subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply.

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