BMO Harris
Program Details
BMO Bank is a national lender offering a specialized physician and dentist mortgage program with high loan limits, flexible income documentation, and no private mortgage insurance. The program supports future-dated employment contracts, 1099 income with guaranteed minimums, and relationship-based pricing in select states.
Keep researching physician mortgages
Terms
100% financing up to $1,000,000
95% financing up to $1,500,000
89.99% financing up to $2,000,000
Less than 5 years practicing: less than 5% down
Less than 10 years practicing: less than 10.01% down
(Residency and fellowship not included)Primary residence only:
Single-family homes
Condos
Two-unit properties
Can close up to 89 days prior to employment start date with signed contract or offer letter
30-year fixed, shorter-term fixed, and ARM options available
No PMI / MI
Purchase or rate/term refinance only
Gift funds allowed for down payment, closing costs, and reserves
1099 income allowed if contract includes a guaranteed minimum salary
No 2-year history required
Must be actively seeing patients
Strengths
Physician loan program established in 2015
Program has expanded nationally over the past 8+ years
Loan officers specialize only in physician loans
Highly experienced in complex income and contract scenarios
Dedicated processors and underwriters for faster closings
Flexible underwriting for new doctors and relocations
Disclaimers
Program availability varies by state
Rates, terms, and loan limits are subject to change
Credit approval required and subject to underwriting guidelines
Relationship requirement may apply in certain states
Not all borrowers will qualify for maximum financing
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
AZ
CO
CT
GA
IA
IL
KS
MA
MN
MO
NC
ND
NE
NJ
NM
OK
OR
SD
TN
TX
UT
VA
WA
WI
WY
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