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Before you go
If you’re in the first 10 years of your profession, you could buy a home sooner than you think. Instead of spending years paying down debt then saving up a down payment, let's see if a professional home loan is right for you.
For highly skilled professionals
This loan factors in the upfront investment you've made in your career.
Eligible professions
Available for doctors, dentists, registered nurses, attorneys, CPAs, veterinarians, ATP pilots, and more
Low or no down payment
Keeping costs down to get you into your new home.
A loan that lives up to your profession
If you've invested many years and thousands of dollars into your education and career, buying a home might feel like it's decades away. Let's find a way to make it happen sooner with a professional mortgage from Flagstar.
This loan features flexible qualifications, lower costs than a conventional mortgage, and low or even no down payment. If you’re within 10 years of starting your profession, contact us to find a professional home loan that's perfect for you. See below for a list of eligible professions.
- No down payment on loans up to $1 million
- Low down payment on loans up to $1.5 million
- No mortgage insurance required
- Adjustable interest rate
- Interested party contributions allowed
Eligible professions
Medical Resident (Educational License)
Medical Doctor (MD)
Doctor of Dental Surgery (DDS)
Doctor of Dental Medicine (DMD)
Doctor of Optometry (OD)
Doctor of Ophthalmology (MD)
Doctor of Pharmacy
Doctor of Podiatric Medicine (DPM)
Doctor of Osteopathy (DO)
Physician Assistant
Registered Nurse
Nurse Anesthetist
Nurse Practitioner
Clinical Nurse Specialist
ATP Pilot
Certified Public Accountant (CPA)
Attorney
Veterinarian
Let’s find the perfect mortgage for you
If you're like most people, buying a home is the largest purchase you'll ever make, but you don't have to go it alone. Talk to the friendly, competent, and trustworthy experts at Flagstar to find a home loan that's right for you.
Apply online
Start your loan application here. Don't worry—if you get stuck, we're just a phone call away.
Speak with a loan advisor
We'll help you find the right loan, start your application, and answer your questions.
Find a loan advisor
Connect with a local expert and meet remotely or at a nearby branch. We'll guide you through the entire home loan process.
Manage your loan your way with MyLoans®
Sign in to MyLoans anytime to make payments, view your statements, sign up for paperless statements, and more. Everything you need is right at your fingertips.
Everything you need to know about home loans
Whether you're an expert or a first-timer, find the ins and outs of mortgages here. Learn what it takes to qualify for a loan, discover the different types of mortgages, and finally understand what an escrow account is for.
Why choose Flagstar?
A mortgage is more than a monthly payment. It’s the foundation of your financial future, giving you peace of mind today while still leaving room for other goals. Flagstar will help you find the right financing for your life from our full range of solutions, including jumbo and government-backed mortgages and home equity lines of credit. Whether you’re buying a home, refinancing, or tapping into your home’s equity, you can count on our decades of experience, make-life-easier technology, and simple application to support you.
Best Mortgage Lenders for First-Time Homebuyers
Forbes, 20251
Best Mortgage Lender Overall
NerdWallet 20242
Simple Application Process
Apply online or over the phone
Expansive Product Set
Competitively priced conventional, government, and specialty solutions
You may also be interested in:
With an adjustable-rate mortgage (ARM), your <5/6, 7/6, 10/6 > loan will have an initial fixed-rate period of <60 months, 84 months, 120 months>. After the fixed-rate period, your interest rate will adjust up or down according to market rates at the time of the reset. Your payment amount will vary based on any adjustment in the interest rate after the fixed-rate period and your monthly payment may increase. Your variable rate can adjust every six months for the remaining life of the loan.
Programs for qualified borrowers. All borrowers are subject to credit approval, underwriting approval, and product requirements, including loan to value, credit score limits, and other lender terms and conditions. Fees and charges may vary by state and are subject to change without notice. Some restrictions may apply. Not a commitment to lend. A loan advisor will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to your individual situation.
Purchase or rate/term refinance of a 1-unit, Warrantable Condo and PUD primary residence. 100% LTV for loans up to $1 million; 95% LTV for loans up to $1.5 million; Max 65% LTV for properties located in the U.S. Virgin Islands. Not available in Puerto Rico.
Cooperatives (co-ops), meeting FNMA requirements and located in one of the five boroughs of New York (Bronx, Brooklyn, Manhattan, Queens, and Staten Island) are eligible. Eligible borrowers include those employed as: a Medical Resident (with Educational License), Doctor of Medicine (MD), Doctor of Dental Medicine or Surgery (DMD/DDS), Doctor of Optometry (OD), Doctor of Ophthalmology (MD), Doctor of Pharmacy, Doctor of Osteopathic Medicine (DO), Doctor of Podiatric Medicine (DPM), Doctor of Veterinary Medicine (DVM), Certified Public Accountant (CPA), Physician Assistant, Registered Nurse, Nurse Anesthetist, Nurse Practitioner, Clinical Nurse Specialist, ATP Pilots, and Attorney.
At least one occupying borrower must hold a valid license within one of the eligible professional fields and meet all of the following requirements:
Borrower must be within ten (10) years of the start of their profession and be actively engaged in the eligible profession. All borrowers, including non-occupant co borrowers, may only have one outstanding Professional or Doctor loan with Flagstar at any given time. Occupying borrower(s) may have no other second homes or investment properties financed with Flagstar Bank at any given time.
Contributions may have limitations based upon occupancy and loan to value ratios and cannot be used for purposes of down payment, reserve requirement or meet minimum contribution requirements.
Please consult your tax advisor regarding the deductibility of interest.
Flagstar Bank NMLS# 417490