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Financial Options for Physicians
At Timberline Bank, we specialize in tailored financial solutions for healthcare heroes.
Our Physician Home Purchase Loan is designed exclusively for medical professionals, executives, doctors, and dentists, providing a manageable homeownership option with flexible terms and zero down. Loan terms, conditions, and credit approval apply.
Exclusive Benefits for Medical Professionals
Smart Loan Structure
- 7/1 Adjustable Rate: Enjoy a fixed interest for the first 7 years followed by annual adjustments based on market conditions. Rate adjustments are subject to loan terms and market index fluctuations.
** For example, on a $250,000 loan with a 7/1 ARM at an initial 5.50% interest rate (5.75% APR), the monthly principal and interest payment would be $1,419.47 for the first seven years. After that, the rate and payment may adjust annually. - 10-Year Term, 30-Year Amortization: Benefit from lower monthly payments by spreading repayments over a 30-year amortization schedule, with a 10-year loan term. Loan terms and conditions apply.
** For example, on a $250,000 loan with a 10-year term and a 30-year amortization at a 6.00% interest rate (6.25% APR), the monthly principal and interest payment would be approximately $1,498.88, with a balloon payment due at the end of the term.
Qualification & Payment Requirements
- Minimum 660 Credit Score: Loan eligibility requires a minimum credit score of 660. Other credit and underwriting criteria apply.
** For example, a borrower with a 660-credit score may qualify for a $250,000 loan at a 6.50% interest rate (6.75% APR), subject to credit approval and other financial factors. - Up to 50% Debt-to-Income (DTI) Ratio: Borrowers must have a DTI ratio of 50% or lower to help ensure affordability. Additional factors may be considered in the credit approval process
** For example, if a borrower's monthly gross income is $5,000, their total monthly debt payments—including the new mortgage—must not exceed $2,500 to meet the 50% DTI requirement. - Escrow & Auto Payments Required: An escrow account is required for property taxes and insurance, which will be included in your monthly payment. Automatic payments are also required to help ensure timely payments.
** For example, if a borrower's estimated property taxes and homeowners’ insurance total $3,600 per year, an additional $300 per month would be included in their mortgage payment to cover these expenses through escrow. Terms and conditions apply.
Loan Terms & Guidelines
- No Prepayment Penalty: You can make additional payments or pay off your loan early without incurring a prepayment penalty.
** For example, if you take out a $250,000 loan and choose to pay an extra $200 per month toward the principal, you could reduce your loan term and total interest paid without penalty. Certain restrictions may apply; contact us for details. - No Cash-Out Option: This loan is strictly for purchasing a home, not for refinancing or accessing home equity.
- Up to 100% Financing: Finance the full purchase price of your home, meaning no down payment required.
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