Atlantic Union Bank
Program Details
Qualifications Required
You must be one of the following licensed professionals:
Medical Doctors (M.D.)
Osteopathic Physicians (D.O.)
Dentists (D.D.S. / D.M.D.)
Veterinarians (D.V.M.)
Podiatrists (D.P.M.)
Chiropractors
Optometrists
Ophthalmologists
Pharmacists
Also eligible:
Licensed medical residents*
Interns*
Fellows
*Must meet program employment/start-date requirements.
Key Features
Up to 100% financing with no mortgage insurance (PMI)
Interest rate discount available with automatic payments from an Atlantic Union Bank deposit account
No limit on time out of residency
Deferred student loans (12+ months) may be excluded from debt-to-income calculations
May qualify using future income with an employment contract and a start date within 90 days of closing
Fixed-rate and adjustable-rate mortgage options available
Loan limits by down payment:
0% down: up to $1,000,000
5% down: up to $1,500,000
10% down: up to $2,000,000
Key Benefits
Designed specifically for medical and healthcare professionals
Allows low or no down payment while preserving cash
Flexible qualification rules for new graduates and relocating doctors
Terms
Also Available:
This program is offered in the same states, with the same LTVs and same underwriting guidelines across all program tiers.
Eligible Professionals
You must be one of the following licensed professionals:
Medical Doctors (M.D.)
Osteopathic Physicians (D.O.)
Dentists (D.D.S. / D.M.D.)
Veterinarians (D.V.M.)
Podiatrists (D.P.M.)
Chiropractors
Optometrists
Ophthalmologists
Pharmacists
Also eligible:
Licensed medical residents*
Interns*
Fellows
* Must meet program employment/start-date requirements.
Key Features
Up to 100% financing with no PMI
Interest rate discount with automatic payments from an Atlantic Union Bank deposit account
No limit on time out of residency
Deferred student loans (12+ months) may be excluded from DTI
Future income may be used with an employment contract and start date within 90 days of closing
Same guidelines across all approved states
Same LTV structure across all program tiers
Loan Limits by Down Payment
Down Payment | Maximum Loan Amount |
|---|---|
0% down | Up to $1,000,000 |
5% down | Up to $1,500,000 |
10% down | Up to $2,000,000 |
Available Loan Programs
30-year fixed
15-year fixed
10/1 ARM
7/1 ARM
All programs follow the same LTVs and qualification guidelines.
Key Benefits
Designed specifically for medical and healthcare professionals
Low or no down payment while preserving cash
Flexible qualification rules for new graduates and relocating d
Strengths
Combine our Medical Professionals Home Loan with our Certified Buyer Pre-Approval Program, which isn’t your standard pre-qualification. We’ll fully underwrite your loan to determine how much you could be approved for by verifying your information and documentation. This can make you as attractive as a cash buyer when negotiating for your home and may even make the difference between your offer being accepted over another!
Close your loan in as little as 10 business days after pre-approval. Compete directly with cash buyers and remove the need for a financing contingency.
Disclaimers
*Maximum loan amount for licensed medical residents and interns is $750,000.
Atlantic Union Bank NMLS #551889. This is not a commitment to lend or extend credit. All loans, credit and collateral are subject to approvals. Terms, rates, data, programs, information and conditions are subject to change without notice. Specific program restrictions may apply so please consult your dedicated Mortgage Loan Officer for complete details. Owner-occupied residences only (single family homes, Fannie/Freddie warrantable condos and townhomes). Borrower(s) may only have one (1) Medical Professionals Program serviced by Atlantic Union Bank at any time. Not all loans or products are available in all states.
Eligible Degrees
DC
OMS
DDS/DMD
Fellow
Intern
MD/DO
CRNA
NP
OTD/MOT
OD
PharmD
DPT
PA
DPM
RN
Resident
DVM
= Eligible
= Not Eligible
Approved States
VA
MD
DC
NC
SC
GA
IN
TN
DE
PA
