Fifth Third Bank
Program Details
Loan Purpose & Property Types
Purchase and refinance (rate/term and cash-out)
Primary residences
Second and vacation homes
Investment properties
Construction (one-time close)
Lot loans
Home renovation loans
Income & Documentation Options
Future income accepted with a signed employment contract
Alternative income documentation allowed (bank statements, 1099, profit & loss statements)
Key Benefits
Jumbo loans up to $10,000,000
Low and no down payment options
Construction loans with one-time close
Lot and renovation loan programs
First-time homebuyer options
Flexible income documentation
Financing for primary, second, vacation, and investment properties
Home equity loans and lines of credit
Relationship discount options available
Free recast to lower monthly payments after large principal payments
Keep researching physician mortgages
Terms
Down payment tiers and LTV limits
Credit score requirements
PMI or mortgage insurance structure
Rate products (fixed vs ARM)
Reserve requirements
Student loan treatment rules
Strengths
Close up to 150 days before employment start date
1099 Income with less than 2 years of self-employed income or new 1099 contract (with proof of minimum guaranteed hours and hourly rate)
Minimum 680 Credit Score with 5% down and 700 credit score with 0% down
No Private Mortgage Insurance
Up to 50% debt to income ratio
Gift Funds can be acceptable for down payment, closing costs, and asset reserves in many circumstances
Student Loan Payments can be excluded if deferred during training or we can use income based repayment monthly payment to qualify
No restrictions on length of time post residency to qualify for loan
Can own multiple properties or have multiple physician loans
Helped thousands of physicians buy their homes with confidence
Refinance and Purchase options
Self Employed Income borrower options
Additional Discounts Available With $25k Or More of Assets With Fifth Third Bank
Disclaimers
Program terms, pricing, and eligibility vary by borrower profile and are subject to change.
All loans are subject to full underwriting approval.
Loan features and availability vary by state.
Not all applicants will qualify.
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
AL
IN
WV
OH
MI
FL
TN
IL
CA
AZ
TX
NC
GA
KY
SC
