What is a professional mortgage?
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A 1st Advantage a Professional Mortgage is a home buying program with specific benefits designed to help licensed and practicing professionals purchase a home. Unlike a traditional mortgage, the Professional Mortgage Program is designed to help new professionals buy a home. We can help you decide if this type of mortgage is right for you and guide you on your home buying journey from prequalification through application and closing.
This mortgage program can help you:
- Purchase a home with no money down
- Refinance your current mortgage to better suit your needs
- Avoid paying Private Mortgage Insurance
- Free up money for paying off student loans or investing
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Our friendly mortgage professionals are here to help. Apply now!
Alicia Bowen
Mortgage Sales Manager
NMLS #305735 |
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*APR: Annual Percentage Rate. Rates and terms based on credit criteria. Credit restrictions apply. Fixed 5.500% rate/ 5.320% APR for the first five years. The interest rate is current as of 5/19/2023. No Private Mortgage Insurance. Up to 100% LTV for purchases. Minimum loan amount is $100,000 and maximum loan amount is $1,500,000. After the five year fixed-rate period, your interest rate is subject to change- up or down according to market rates at the time of reset and each five years thereafter. Offer applies to medical professionals (licensed residents/interns/fellows in MD, DO, DPM, DDS, DVM, NP, PA and other practicing professionals with master’s level education and above. Borrower must have a credit score of 670 or better depending on credit qualifications. All Credit Union loan programs, rates, terms, and conditions are subject to credit approval and may change at any time without notice. The payment on a 30-year, $200,000, 5-year Adjustable-Rate Loan at 5.500% / 5.320% APR and 80% loan-to-value (LTV) is $1,135.58. Payments are estimates and include only principal and interest. Rate is variable and can increase by no more than 2% every 5 years with a lifetime maximum adjustment of 5%. Since the index in the future is unknown, the First Adjustment Payment is based on the current index plus a margin (fully indexed rate) as of the date above. After 15 years, the maximum possible payment is $1,398.43. Property insurance and, if applicable, flood insurance is required. These payments do not include taxes and insurance premiums. The actual payments will be greater, and rates provided are based on current market rates, and are informational only. Some restrictions may apply. This rate is applicable for owner-occupied purchase or refinance of a single-family dwelling. All Credit Union loan programs, rates, terms, and conditions are subject to credit approval and may change at any time without notice. Interest rates are subject to change and are based on credit score, loan product, loan term, and loan value.
**APR: Annual Percentage Rate. Rates and terms based on credit criteria. Credit restrictions apply. The interest rate is current as of 5/19/2023. No Private Mortgage Insurance. Up to 100% LTV for purchases. Minimum loan amount is $100,000 and maximum loan amount is $1,500,000. Offer applies to medical professionals (licensed residents/interns/fellows in MD, DO, DPM, DDS, DVM, NP, PA and other practicing professionals with master’s level education and above. Borrower must have a credit score of 670 or better depending on credit qualifications. All Credit Union loan programs, rates, terms, and conditions are subject to credit approval and may change at any time without notice. The payment on a 25 year, $200,000 fixed rate loan at 5.875% / 6.001% APR and 80% loan to value (LTV) is $1,273.36. Payments are estimates and include only principal and interest. Property insurance and, if applicable, flood insurance is required. These payments do not include taxes and insurance premiums. The actual payments will be greater, and rates provided are based on current market rates, and are informational only. Some restrictions apply. This rate is applicable for owner-occupied purchase or refinance of a single-family dwelling. The interest rate charged, and the annual percentage rate are constant for the life of the loan. All Credit Union loan programs, rates, terms, and conditions are subject to credit approval and may change at any time without notice. Interest rates are subject to change and are based on credit score, loan product, loan term, and loan value.
^APR: Annual Percentage Rate. Rates and terms based on credit criteria. Credit restrictions apply. The interest rate is current as of 5/19/2023. No Private Mortgage Insurance. Up to 100% LTV for purchases. Minimum loan amount is $100,000 and maximum loan amount is $1,500,000. Offer applies to medical professionals (licensed residents/interns/fellows in MD, DO, DPM, DDS, DVM, NP, PA and other practicing medical professionals with master’s level education and above. Borrower must have a credit score of 670 or better depending on credit qualifications. All Credit Union loan programs, rates, terms, and conditions are subject to credit approval and may change at any time without notice. The payment on a 30 year, $200,000 fixed rate loan at 6.125% / 6.239% APR and 80% loan to value (LTV) is $1,197.82. Payments are estimates and include only principal and interest. Property insurance and, if applicable, flood insurance is required. These payments do not include taxes and insurance premiums. The actual payments will be greater, and rates provided are based on current market rates, and are informational only. Some restrictions apply. This rate is applicable for owner-occupied purchase or refinance of a single-family dwelling. The interest rate charged, and the annual percentage rate are constant for the life of the loan. All Credit Union loan programs, rates, terms, and conditions are subject to credit approval and may change at any time without notice. Interest rates are subject to change and are based on credit score, loan product, loan term, and loan value.