PROFESSIONAL LOANS
You worked hard for your profession. Let's help you get home.
Doctors, attorneys, CPAs, and other highly trained professionals can become homeowners sooner with a professional mortgage from Flagstar.
FDIC-Insured—Backed by the full faith and credit of the U.S. Government
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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
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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
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. Not available in Puerto Rico or U.S. Virgin Islands.
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