BMO Harris Bank

Physician Mortgage Program Details:

Length of employment post-training determines minimum down payment allowed

  • Available to Residents, Fellowships, and existing Medical Doctors with the following degrees MD, DO, DMD, and DDS.
  • Eligible Professionals with greater than 10 years practicing:
    • Loans up to $2,000,000 with 10% down payment.
  • Eligible Professionals with less than 10 years practicing:
    • Loans up to $1,000,000 with 0% down payment.(Not available in all states)
    • Loans up to $1,500,000 with 5% down payment.
    • Loans up to $2,000,000 with 10% down payment.
  • Available in 10, 15, 20, and 30-year fixed rates
  • Available in 5, 7, and 10-year ARMs
  • No Private Mortgage Insurance (PMI)
  • Able to close up to 89 days prior to employment start date
  • 1-2 unit Primary residence single-family, Condominium, and Townhouse
  • Cash-out Refi and Construction loans do NOT qualify
  • Purchase and Rate/Term Refinance loans