Professional Loan Program
We understand the unique financial needs of professionals. Whether you're still finishing residency or are a successful partner in a fast-growing practice, professional loans from Springs Valley Bank & Trust Company provide multiple financing options to help you manage your personal and professional expenses.
- Finance up to $750,000.00 with no down payment and up to $1 Million (Established Professionals up to $1.5 Million) with a down payment of 5% required when purchasing a home
- No Private Mortgage Insurance (PMI) required
- Fixed and Adjustable Rate Mortgage (ARM)* loans available
*After the ARM period, it is possible that the borrower's payment may increase substantially over the remaining term of the loan.
- New Professional Loan Program is ideal for licensed Interns, Residents or Fellows in medical residency or scheduled to begin residency within 90 days of closing on a new home, or who have completed residency within the last 12 months and have started working for a hospital or physician group.
- Established Professional Loan Program is ideal for licensed Non-Residents/Interns/Fellows (MD, DO, DPM, DDS, DMD, DMV. DC, or OD) who are employed with a hospital, dental center or physicians/dental group for more than one year or have been self-employed as a medical doctor or dentist for at least two years.
Terms and conditions apply. The Professional Loan Program is restricted to primary, owner-occupied residences only. Investment properties, second homes, construction-to-perm and lot loans are ineligible. If the borrower can document that the student loan payment is deferred or in forbearance for at least 12 months after closing, the student loan payment can be excluded from the debt-to-income calculation. Property insurance required.
Loans are subject to credit review and approval.