Physician Mortgage Loans in Wisconsin

Securing a physician mortgage in Wisconsin requires finding the right lender. The first step is to compare physician mortgage lenders that specifically operate in Wisconsin and provide physician mortgage programs. To simplify this process, it’s advisable to work with a specialized mortgage broker who has expertise in physician mortgage programs. They will connect you with reputable lenders who understand the unique needs of medical professionals, allowing you to compare rates, terms, and down payment options available in the state.

It’s important to note that not all brokers have a comprehensive understanding of physician mortgage loan programs. Therefore, finding a broker with expertise in this area is crucial. LeverageRx can assist you in finding lenders in Wisconsin who specialize in serving physicians and healthcare providers.

Once you have selected a lender, the next step is to complete and submit a loan application. Be prepared to provide necessary documentation, including proof of employment, educational background, certifications, and healthcare professional licenses.

When searching for a physician loan in Wisconsin, it’s important to focus on lenders with programs available within the state. This ensures that you work with lenders who have a deep understanding of the local market and comply with state-specific regulations. Remember that loan programs can vary between states, so the options available in Wisconsin may differ from those in other states.

Here are eight reputable lenders offering physician mortgage loans in Wisconsin.

BMO

To meet the unique financing needs of medical professionals in Wisconsin, BMO offers a specialized physician mortgage. This program is specifically designed to assist doctors in overcoming obstacles to homeownership, such as significant student loan debt and limited funds for a traditional down payment.

Here are the notable features of BMO physician loans in Wisconsin:

Financing of up to 95% for loans up to $1.5 million
Financing of up to 90% for loans up to $2 million
Only available for primary residences
Available for both purchase and refinancing
Construction financing options are also available
Available for MD, DDS, DMD, and DO professionals

BMO physician loans are available to practicing physicians, residents, and fellows in all states except New York. For a more comprehensive understanding of this program, we recommend referring to our detailed BMO Physician Loan Review.

Evolve

Evolve Bank & Trust offers a physician mortgage program that is particularly beneficial for young physicians who may face challenges in qualifying for conventional loans due to significant student loan debt. With a mortgage from Evolve, physicians can achieve homeownership without the requirement of a down payment.

Here are the key features of Evolve physician loans in Wisconsin:

100% financing available for loans up to $1 million
95% financing available for loans up to $1.25 million
90% financing available for loans up to $1.5 million
85% financing available for loans over $2 million
Applicable for primary residences, co-ops, condos, land purchases, and construction financing
Qualifying designations include MD, DO, DDS, DMD, PA, NP, DVM, CRNA, DC, OD, DPM, residents, fellows, pharmacists, and clinical nurse specialists.

It’s important to note that physicians who have been out of training for more than ten years are not eligible for this program. To explore your options and find the right mortgage solution in Wisconsin, you can seek assistance from LeverageRx.

First Horizon

First Horizon understands the unique requirements of medical professionals in Wisconsin and provides physician mortgage loans to cater to these needs. Although their program primarily serves the southern United States, they also extend their services to Wisconsin.

Here are the notable features of their program:

100% financing available for loans up to $1.5 million.
95% financing available for loans up to $2 million.
90% financing available for loans up to $2.5 million.
Ability to close on the loan up to 6 months prior to the employment start date.
Accessible to MD, DO, DDS, DMD, CRNA, CPA, and DPM professionals.
No requirement for private mortgage insurance (PMI).

To explore your options and connect with a physician mortgage lender from First Horizon, you can request your mortgage rates through LeverageRx.

Heritage Bank NA

When it comes to physicians and medical professionals in Wisconsin, Heritage Bank NA stands out as a top choice for their home financing needs. The Physician Mortgage Loan program offered by Heritage Bank NA is specifically designed to cater to the unique requirements of healthcare professionals. Here are the key highlights of the program:

No down payment required for loans up to $1 million.
Low down payment requirements.
High loan-to-value ratio.
Open to MD, DDS, DO, OD, DPM, and DVM designations.
Both practicing physicians and residents can access the program.
No requirement for private mortgage insurance (PMI).
Available for both primary and secondary homes.

To explore your options and connect with a lender from Heritage Bank NA, request your mortgage rates through LeverageRx.

Huntington

Huntington Bank offers a physician loan program for doctors in Wisconsin. This program caters to a wide range of medical specialties, including MD, DO, DDS, DMD, DPM, and DVM. Here are the key advantages of Huntington Bank’s physician loan program in Wisconsin:

Up to 100% financing is available for loans up to $1 million, allowing physicians to secure their primary residence without the need for a down payment.
Loans up to $1.25 million offer 95% financing.
Loans up to $2 million allow for 90% financing.
Primary residences only.
Applicable for both purchase and refinancing.

It’s important to note that loans exceeding $1.25 million require at least one year of attending status, making them unavailable to those still in training. However, loans below $1.25 million are accessible to physicians at all stages of their careers, including residents, fellows, and attending physicians.

For a more comprehensive understanding of the Huntington Bank Physician Loan program and its offerings in Wisconsin, we recommend referring to our detailed Huntington Bank Physician Loan Review.

Lake Michigan Credit Union

If you’re a medical, dental, or orthodontic professional in Wisconsin, Lake Michigan Credit Union’s doctor mortgage program provides substantial benefits, whether you’re a resident in training or an established physician seeking to relocate.

Here are the key features of Lake Michigan Credit Union’s doctor mortgage program:

Available for MD, DO, DDS, DPM, and CRNA designations.
Up to 100% special financing based on the value of the household.
No requirement for mortgage insurance.
0% down payment for loans up to $1.25 million.
5% down payment for loans up to $1.5 million.
10% down payment for loans up to $1.75 million.
15% down payment for loans up to $2 million.
30% down payment for loans up to $2.5 million.
Deferred student loan debt is not included in calculations.
No minimum requirement for cash on hand after closing.

Being a credit union, Lake Michigan Credit Union offers highly competitive rates. Compared to traditional banks, you can potentially obtain a lower loan rate, reduced closing costs, and fewer expenses over the life of the loan. To get connected with a lender from Lake Michigan Credit Union, get started here.

Truist

Truist offers a physician loan program specifically designed for medical professionals in Wisconsin with the following designations: MD, DO, DPM, DDS, DMD. This loan is available to practicing physicians, residents, and fellows. It’s important to note that Truist considers physicians and dentists with over 10 years of experience as ineligible for this program.

Here are the key features of Truist’s physician loan program in Wisconsin:

100% financing available up to $1 million.
95% financing available up to $1.5 million.
90% financing available up to $2 million.
Adjustable and fixed-rate options are available.
Can be used for single-family homes or condos.
Relaxed debt-to-income requirement.
No requirement for private mortgage insurance (PMI).
Available for primary residences only.
Applicable for both purchase and refinance.

For more detailed information, we recommend reading our comprehensive Truist Physician Loan Review.

US Bank

US Bank extends its physician mortgage loan program to physicians in all 50 states. Whether you are currently in training or have been practicing for a decade, US Bank is here to finance your new home. Here are the key highlights of the program:

Designations eligible: MD, DO
The loan is available for primary residences only.
90% financing is available up to $1.25 million.
85% financing is available up to $1.5 million.
80% financing is available up to $2 million.

It’s worth noting that US Bank has limited the eligibility of their physician loan program to only a few medical professional designations. Among all the doctor home loan programs available through LeverageRx, US Bank considers the fewest medical professionals to be eligible. Additionally, it’s important to mention that US Bank does not offer an option for 100% financing.

For more detailed information about the US Bank Physician Loan program, we encourage you to read our comprehensive US Bank Physician Loan Review.