Physician Mortgage Loans in West Virginia
If you’re looking to obtain the best physician mortgage in West Virginia, there’s a crucial step that can simplify the entire process. It’s essential to compare lenders based on their rates, terms, and down payment options. To make this task easier, it’s recommended to work with a mortgage broker who specializes in physician mortgage programs.
While any broker can help you find financing through traditional loans, not all possess the necessary expertise in physician mortgage loan programs. Given that doctor loans have unique requirements and terms, it’s vital to find a broker with specific knowledge in this area.
To begin comparing rates and terms from lenders in West Virginia, you can partner with LeverageRx. Our team has assisted over 50,000 physicians and healthcare providers in finding suitable banks and mortgage lenders to meet their home buying needs.
Once you’re connected with a lender, you’ll need to complete and submit a loan application. Additionally, be prepared to provide supporting documentation such as proof of employment, educational background, certifications, or licensing as a healthcare professional.
When searching for a physician mortgage in West Virginia, it’s crucial to focus on lenders and banks that offer programs within the state. This ensures that you work with lenders who have a comprehensive understanding of the local market and comply with state-specific regulations. Loan programs can vary from one state to another, so it’s essential to identify the options available in West Virginia.
Here are eight reputable physician mortgage loan lenders catering to physicians in the state of West Virginia.
BMO
BMO offers a physician loan program that addresses the unique financing challenges faced by medical professionals in West Virginia. This program eliminates the barriers to homeownership that doctors often encounter, such as significant student loan debt and limited savings for the conventional 20% down payment requirement.
Here are the key features of what BMO physician loans have to offer in West Virginia:
Eligible Designations: MD, DDS, DMD, DO
Up to 95% financing for loans up to $1.5 million
Up to 90% financing for loans up to $2 million
Available for primary residences only
Mortgages available for purchase or refinance
Construction financing options available
BMO physician loans are available to qualified licensed medical doctors, residents, and fellows in all states except New York. Read our comprehensive BMO Physician Loan Review to learn more about this program.
Evolve
Evolve Bank & Trust offers a unique solution for physicians in West Virginia who face challenges when trying to qualify for a conventional loan due to high student loan debt. Their physician loans provide an opportunity for immediate homeownership without a down payment.
Here are the main features of Evolve physician loans in West Virginia:
Available to MD, DO, DDS, DMD, PA, NP, DVM, CRNA, DC, OD, DPM, residents, fellows, pharmacists, and clinical nurse specialists
100% financing available for up to $1,000,000
95% financing available for up to $1,250,000
90% financing available for up to $1,500,000
85% financing available for loans exceeding $2,000,000
Can be used for primary residences, co-ops, condos, land purchases, and construction financing
These specialized loans are designed to help you achieve homeownership without the traditional waiting period. However, physicians who have been practicing for over a decade are not eligible for the doctor loan program. To explore your options and find the right mortgage solution, you can get matched with an Evolve lender in West Virginia through LeverageRx.
Fifth Third
Fifth Third Bank acknowledges the specific financial requirements of residents, new physicians, and established doctors in West Virginia and provides a physician mortgage loan program tailored to their needs. Here are the main features of Fifth Third’s physician mortgage loans in West Virginia:
Eligible designations include MD, DDS, DMD, DO, and DPM
Financing options of up to 100% available for loans up to $750,000
Financing options of up to 95% available for loans up to $1 million
No private mortgage insurance (PMI) requirement
Flexibility to choose between fixed or adjustable-rate loans
Available for both home purchase and refinance
Construction financing options available
Fifth Third Bank’s physician mortgage loans are designed to address the unique financing needs of residents, fellows, and established doctors in West Virginia. For a comprehensive evaluation of this program, we recommend reading our detailed review of Fifth Third Physician Mortgages.
First Horizon
First Horizon understands the unique needs of medical professionals in West Virginia and offers specialized physician mortgage loans to cater to their requirements. Here are the key features of their program:
Financing options of up to 100% available for loans up to $1.5 million
Financing options of up to 95% available for loans up to $2 million
Financing options of up to 90% available for loans up to $2.5 million
Flexibility to close on the loan up to 6 months prior to the start of employment
Accessible to MD, DO, DDS, DMD, CRNA, CPA, and DPM
No requirement for private mortgage insurance (PMI)
To explore your options and connect with a physician mortgage lender from First Horizon, you can request your mortgage rates through LeverageRx.
First National Bank of Pennsylvania
First National Bank offers a physician mortgage that provides significant benefits to medical professionals, whether they are currently in training or already practicing physicians. The eligible medical specialties in West Virginia include MD, DO, DDS, DMD, DVM, and PharmD.
Here are the key features of First National Bank’s physician loan:
Up to 100% financing available for loans up to $1 million
Up to 90% financing available for loans up to $1.5 million
Available for both purchase and refinance transactions
Applicable to primary or secondary residences
Construction financing options available
For more comprehensive information and a detailed review of First National Bank’s physician loan, we recommend reading our full review of First National Bank Physician Loans.
Heritage Bank NA
Heritage Bank NA is a preferred choice for physicians and medical professionals in West Virginia who are seeking 100% financing for their home purchases. Their Physician Mortgage Loan program offers several advantages, including:
No down payment required for homes up to $1 million.
Lower down payment requirements and higher loan-to-value ratios.
Available for MD, DDS, DO, OD, DPM, and DVM.
Accessible to both practicing physicians and residents.
No requirement for private mortgage insurance (PMI).
Applicable to both primary and secondary homes.
To explore your options and connect with a lender from Heritage Bank NA, simply complete a mortgage form through LeverageRx.
Huntington Bank
Huntington Bank provides a physician loan program in West Virginia that caters to multiple medical specialties, including MD, DO, DDS, DMD, DPM, and DVM. Their program offers various advantages for physicians who are looking to finance their primary residence:
Up to 100% financing available for loans up to $1 million.
Loans up to $1.25 million offer 95% financing.
Loans up to $2 million allow for 90% financing.
Available exclusively for primary residences.
Can be used for both purchase and refinance.
For loans exceeding $1.25 million, Huntington Bank requires at least one year of attending status, making it unavailable for residents. However, loans below $1.25 million are accessible for both residents and attending physicians.
To learn more about the Huntington Bank Physician Loan program, you can refer to our comprehensive Huntington Bank Physician Loan Review.
Truist
Truist’s physician loan program in West Virginia is exclusively designed for medical professionals who are MD, DO, DPM, DDS, and DMD. This program is accessible to practicing physicians, residents, and fellows. However, Truist does not consider practicing physicians and dentists with over 10 years of experience eligible for this program.
Here are the notable features of Truist’s physician loan in West Virginia:
Up to 100% financing for loans up to $1 million.
Up to 95% financing for loans up to $1.5 million.
Up to 90% financing for loans up to $2 million.
Adjustable-rate and fixed-rate options.
Applicable for single-family homes or condos.
Limited to primary residences only.
Available for both purchase and refinance transactions.
Truist provides lenient debt-to-income requirements and does not require private mortgage insurance (PMI). For a comprehensive overview of the Truist physician loan program and its offerings, please refer to our detailed Truist Physician Loan Review.