First Horizon Bank Physician Mortgage – A Solution For Doctors And Other Medical Professionals
Are you a doctor or another medical professional looking for a mortgage? If so, you may want to consider First Horizon Bank’s physician mortgage. This specialized loan product is designed to help doctors and other medical professionals purchase a home. It offers unique benefits that can make it easier to get the home of your dreams. In this article, we’ll explain everything you need to know about First Horizon Bank’s physician mortgage.
What is a Physician Mortgage?
A physician mortgage is a special type of mortgage designed specifically for doctors and other medical professionals. It typically offers more lenient credit and income requirements than traditional mortgages. This makes it easier for doctors and other medical professionals to purchase a home, even if they have significant student loan debt or if their income is not quite high enough to qualify for a traditional mortgage.
How Does First Horizon Bank’s Physician Loan Work?
First Horizon Bank’s physician loan offers a variety of benefits to make it easier for doctors and other medical professionals to purchase a home. First, it offers a zero down payment option. This means that you don’t have to put any money down to purchase a home. This is a great option for doctors and other medical professionals who are just starting their careers and don’t have a lot of cash on hand. Second, it offers flexible loan terms. You can choose a loan term of up to 30 years, which makes it easier to manage your monthly payments.
In addition, First Horizon Bank’s physician loan offers competitive interest rates. The rates are usually lower than those offered by traditional mortgage lenders. This makes it easier to get the home of your dreams without breaking the bank. Finally, First Horizon Bank’s physician loan offers flexible underwriting guidelines. This means that the bank may be more willing to look at your application even if you have a lower credit score or a high debt-to-income ratio.
Who Is Eligible for First Horizon Bank’s Physician Loan?
In order to qualify for First Horizon Bank’s physician loan, you must be a doctor or another medical professional. You must also meet certain income and credit requirements. Generally, you must have an annual income of at least $75,000 and a credit score of at least 640. However, the bank may consider other factors when evaluating your application.
How Do I Apply for First Horizon Bank’s Physician Loan?
Applying for First Horizon Bank’s physician loan is easy. All you have to do is fill out an online application. The application will ask for information about your income, assets, debts, and credit score. Once you submit the application, the bank will review it and decide whether or not to approve you. If you are approved, you’ll be able to start the process of purchasing a home.
What Are the Advantages of First Horizon Bank’s Physician Loan?
First Horizon Bank’s physician loan offers several advantages. First, it makes it easier for doctors and other medical professionals to purchase a home. Second, it offers competitive interest rates and flexible loan terms. Finally, it offers flexible underwriting guidelines, which means that the bank may be more willing to look at your application even if you have a lower credit score or a high debt-to-income ratio.
Conclusion
First Horizon Bank’s physician loan is a great option for doctors and other medical professionals who are looking to purchase a home. It offers a zero down payment option, competitive interest rates, and flexible loan terms. In addition, it offers flexible underwriting guidelines, which makes it easier to get the home of your dreams. If you’re a doctor or another medical professional looking for a mortgage, First Horizon Bank’s physician loan may be right for you.
