Medical Professional Construction Loan
Medical Professional Loan Programs
Detailed Marketing Overview
Medical professionals have unique income trajectories, relocation timelines, and liquidity needs. This marketing overview distills two specialized loan options tailored for clinicians—(1) Medical Professional Purchase and (2) Medical Professional Construction—summarizing the key advantages, qualifying rules, and operational details. The comparison avoids company names and focuses strictly on program mechanics so you can present benefits clearly to prospects.
These program characteristics are drawn from internal product communications and portfolio manuals for medical‑professional offerings, including definitions of eligible degrees, new/relocating criteria, LTV tiers, and underwriting overlays.
Medical Professional Loan Programs
Who Qualifies
Eligible degrees include MD, DO, DDS, DMD, Ophthalmology (MD/DO), Psychiatry (MD/DO), PharmD, VMD, and DPM. Residents, fellows, and interns with one of these degrees are also eligible.
Borrowers must be either ‘new’ medical professionals (within 180 months of completing residency/fellowship/internship) or ‘newly relocating’ (relocation within 12 months prior to application or within 90 days after closing).
Income used for qualifying must be the medical professional’s income; programs are designed to account for significant or rapidly rising earnings typical in medical careers. Credit & Capacity Guardrails
Minimum FICO often set at 700 for construction variants; purchase variants may allow 660+ for purchases and 700+ for refinances under portfolio rules (manual underwriting). Verify the tier for the specific scenario.
Manual underwriting is used on portfolio medical‑professional offerings; AUS ineligibility solely due to plan/LTV/loan amount can be acceptable under the portfolio guide.
Loans build for you
Property & Purpose
Purchase program supports completed homes and may allow 1‑unit, 1‑unit with an accessory unit, PUDs, and warrantable condos (non‑warrantable case‑by‑case depending on portfolio exposure).
Construction program is restricted to 1‑unit detached, new‑build primary residences (no condos, no attached PUDs, no manufactured homes).
Both programs focus on purchase or limited cash‑out transactions; construction uses a single close (construction‑to‑permanent) structure with defined modification rules.
Purchase program (illustrative portfolio tiers):
up to 100% LTV ≤ $1.5M; up to 95% to $2.0M; up to 90% to $3.0M.
Construction program (illustrative tiers by size): up to 95% for loans < $1.5M; up to 90% for $1.5M–$2.0M; up to 85% for $2.0M–$3.0M.
No mortgage insurance is required on these portfolio medical professional offerings, a key monthly savings lever at high LTVs.
MEDICAL PROFESSIONALS PROGRAM
Fulton Mortgage Company has designed a mortgage program dedicated to making homeownership easy and affordable for medical professionals¹ including Physicians, Pharmacists, Dentists, Veterinarians, and Podiatrists. If you have a medical doctorate degree, this program may work for you.
• 100% financing² available for loan amounts up to $1.5 Million
• 95% financing² available for loan amounts up to $2 Million
• 90% financing² available for loan amounts up to $3 Million
• Mortgage Insurance not required
• Up to 6% seller paid closing cost and prepaids allowed
• Gift funds are allowed from immediate family members
• Student loan payments that are deferred for 12 months or longer are not included in the credit approval process
• Find and close on new home up to 90 days prior to start of new employment
• 30 & 15 Year Fixed Rate³ as well as Adjustable Rate⁴ Options (5/6, 7/6, 10/6, & 15/6)
Nikki Shenk
Mortgage Loan Officer NMLS #: 1617043 717.580.5097 nshenk@fultonmortgagecompany.com fultonbank.com/mortgage
Fulton Bank, N.A. Member FDIC. Subject to credit approval. ¹Medical Doctorate degree required. Restrictions apply. ²Financing is based on the lower of either the appraised value (fair market value) or contract sales price. ³Monthly payment for a $250,000 15-year term mortgage at 6.613% Annual Percentage Rate (APR) would be $2,143.56. Monthly payment for a $250,000 30-year term mortgage at 6.469% Annual Percentage Rate (APR) would be $1,539.29. Payment does not include amounts for taxes and insurance and the actual payment will be greater. ⁴Adjustable rates are subject to increase after the initial fixed-rate period. Interest on the portion of the loan that exceeds the value of the dwelling is not tax deductible. Please consult your tax advisor.
Medical Professional Loan Programs
Operations & Closing Experience
Construction: ARM choices (e.g., 5/6, 7/6, 10/6, 15/6) tied to the SOFR index with a representative 2.75% margin and defined caps; one‑time modification to a fixed rate available at completion with standard fees
Medical Professional Loan Programs
Program Comparison
Medical Professional Loan Programs
Marketing Talking Points You Can Use Today
High‑LTV financing without mortgage insurance is a standout edge—especially for early‑career buyers managing student loans.
Construction‑to‑perm provides one closing, interest‑only during the build (per product), and a clear path to a fixed rate at completion—ideal for time‑pressed clinicians.
Manual underwriting intentionally recognizes medical income arcs—offer letters, residency/fellowship status, and rapid post‑training salary growth. Bottom line: If a clinician wants maximum leverage on a completed home with minimal friction and no MI, the Purchase track shines. If they want to design and build a primary residence to exact specifications, the Construction track delivers single‑close efficiency, strong LTVs, and a predictable transition to permanent financing. Use the comparison table above in prospect meetings to quickly align borrowers to the product that best fits their needs, then tailor underwriting and documentation to their career stage (resident, fellow, or attending).
Why Choose Us
Building Your Dreams
One Home At A Time
Construction to permanent loans offer a convenient and flexible solution for financing your dream home, providing funding for both the construction phase and the permanent mortgage in one easy-to-manage loan. With options for down payments, interest rates, and repayment terms, construction to permanent loans make it easy to customize your financing to fit your unique needs and budget.
We work closely with your builder to make your home building process affordable and stress-free. Our team will customize your financing, manage construction, and ensure that your dream home is built to meet your exact specifications.