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
Construction Loans 101: Adjustable Rates If you’re considering building a home, one of the more pressing concerns is the rate you’ll receive for a construction loan. For residents of the Carolinas and Virginia, First Bank*… Your Community Bank If you live in North Carolina or South Carolina, you have a ton of banking options right outside your door. Large financial institutions may seem like your best option… FHA Loans 101: 3 Major Requirements If you have a strong understanding of the FHA loan requirements, you’ll experience a quicker and smoother loan application process. FHA loans provide homebuyers of all income levels the opportunity… Anderson Creek Anderson Creek is an unincorporated community located just north of Spring Lake and Fort Bragg, North Carolina. Individuals and families that move to Anderson Creek will enjoy a world class golf… Credit Card Processing for Businesses If you are a business owner, you probably know that accepting multiple forms of payment (cash, debit, credit, and checks) is important. But you may not know just how essential… Save Money with This Refinance Calculator for Home Mortgages When mortgage interest rates are low, homeowners should compare their current mortgage terms with the option of refinancing. By locking in the right rate, homeowners can take advantage of significant… 30-Year Mortgage Rate Forecast Tips A great way to lock in the best mortgage interest rate is to shop around. By learning how to read a 30-year mortgage rate forecast, homeowners can pinpoint an ideal… 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… 3 Major Factors of a Small Business Credit Card Comparison Conducting a small business credit card comparison can be a useful tool when looking for resources that can help your company. But there are many credit card options available to… ACH Positive Pay If you are a business owner, you should spend your time worrying about growing a successful business, not worrying about fraudulent transactions. That’s where ACH Positive Pay comes in. What…