Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

MedPro Loans

We have mortgages tailored specifically to health professionals.

You help others for a living. That’s why we make loans just for you.

Our MedPro Loan Program is a residential mortgage loan developed specifically for physicians, dentists, optometrists, Pharm.D pharmacists, ophthalmologists, podiatrists, osteopathologists, and veterinarians.

Perfect for you if:
  • You are a health professional.
  • You are looking for a primary home.
  • You need a home loan with no down payment.

Loan Features

  • Available for home purchases or construction of primary homes only.
  • Competitive pricing available.
  • Mortgage insurance is not required.

Loan Benefits

  • No down payment needed.
  • No penalty for prepaying your loan.
  • Gift funds or seller contributions (up to 3% of purchase price) may be used for closing costs.

Considerations

  • Maximum of 100% Loan-to-Value (LTV) for purchases of primary homes.

Terms

  • 10/1 ARM, 5/1 ARM, 7/1 ARM, or 15 year fixed
  • 30-year fixed options may be available at a reduced LTV

Apply online today

Applying for a First Bank mortgage is fast, easy and secure. Before you begin, have the following information on hand.

Financial Information
  • Income
  • Your total assets
  • Monthly expenses
Property Information
  • Estimated purchase price and down payment amount (if buying)
  • Estimated property value and loan amount (if refinancing)
Work with a local mortgage specialist

Loans are subject to credit approval.

For a $200,000 mortgage loan for a term of:

  • 30 years fixed interest rate of 4.75%, with an APR of 4.906%, the monthly payment would be $1,043.29.
  • 15 years fixed interest rate of 4.125%, with an APR of 4.391%, the monthly payment would be $1,491.94.
  • 5 year adjustable rate* of 4.375%, with an APR of 4.527%, the monthly payment would be $ 998.57.
  • 7 year adjustable rate* of 4.5%, with an APR of 4.653%, the monthly payment would be $1,013.37.
  • 10 year adjustable rate* of 4.625%, with an APR of 6.508%, the monthly payment would be $1,028.28

Based on 20% down payment and 1% Origination Fee. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. These payments are based on recent interest rates and can vary based on individual credit.

*Adjustable interest rates and payments are subject to increase after the initial fixed-rate period (5 years for a 5/1 ARM, 7 years for a 7/1 ARM and 10 years for a 10/1 ARM).

Trending Topics

Best Personal Checking Account Near Me

If you’re looking to open a checking account near you, visit your local First Bank today. Whether you want a basic checking account or a premium checking account with benefits, First Bank has a variety of options for you...

High Interest Checking Accounts In Albemarle, NC

It was not far from Albemarle, NC where in 1799 the 17-pound hunk of gold was found that sparked America’s first gold rush. While you may not strike it rich mining for gold, a high-interest checking account from First Bank...

Personal Loan Rates in South Carolina

If you live in South Carolina and are looking for competitive personal loan rates,* visit a local First Bank for highly competitive rates and flexible terms. We’re dedicated to serving our customers and providing a variety...

Five Reasons to Refinance Your Mortgage

Banking professionals suggest mortgage refinancing when homeowners want to replace their current loan with a new one, often to reduce monthly payments or lower interest rates. With a mortgage refinance, your current loan...

The Best Personal Banking Services for You

Finding the best personal banking services for your financial needs doesn’t need to be difficult. The factors that go into evaluating available options can include convenience, fees, and interest rates. It’s essential for...

Realize Your Dream with a Competitive New Business Loan – Asheville, NC

First Bank is the lender of choice for many borrowers in Asheville, North Carolina. A new business loan can allow you to pay for startup costs such as equipment, supplies, vehicles or inventory. Businesses Loans and Credit...

Commercial Loan Payment Calculator

Are you interested in obtaining a commercial mortgage? A commercial loan calculator* can help determine your monthly payments. This is important because purchasing a location for your business is significant and requires a...

How to Get a Mortgage for a Rental Property

Looking for rental property mortgage rates near you? If so, First Bank can provide you with tips and tricks on how to get a rental property mortgage, as well as how to find the best mortgage rates near you. Rental Property...

Best Savings Account Rates In Florence, SC

If you want to save money, there are plenty of ways to do it. You can put your money into an IRA, CD, the stock market, or other financial tool. However, you can also put your money into a simple savings account. With some...

What is Required to Open a Business Checking Account?

It’s standard for a business to have a business checking account. After all, a business needs to handle cash and pay bills. If you’re just starting a business, or even if you’re moving your business bank account to a new...