Physician Mortgage Illinois

Purchase

State

Purchase price

Down payment % %

Down payment $

Credit score

Here's your current rate and payment.

Loan Type: 7-year ARM

Loan amount:

Rate:

APR:

Discount points:

P&I:

A 7-year ARM offers a lower initial interest rate than a 30-year fixed-rate mortgage, reducing your monthly payments during the early years. For a doctor expecting a significantly higher income, this allows for immediate savings while providing flexibility to refinance or pay off the loan before the rate adjusts.

A home loan that fits your financial situation

You found the perfect place. It's near the hospital, in a safe neighborhood, with everything you hoped for. But the $1 million price tag seems like an impossible dream after years of medical school and residency left little room for savings.

We know limited savings, new employment, and high student loan debt prevent many young doctors from buying homes early in their careers. So, we offer an affordable mortgage to help you buy a more valuable property without waiting.

100% financing eliminates the need to save a significant amount upfront. No private mortgage insurance keeps monthly costs low, even for a high-value loan.

This loan lets you establish a stable, fulfilling personal life sooner, providing a sense of personal accomplishment. Suddenly, your dream home is within reach.

"NewCastle helped me get my first mortgage, and I recommend them very highly. Incredible customer service, super responsive, and played a huge role in..."

Andy S.

"My experience with New Castle Home Loans and Jim's team was nothing short of outstanding. They provided me with a home loan that was tailored to my family's needs, and the entire process was incredibly easy-going and hassle-free..."

Alex Grubbe

"Fastest and most reliable service I have ever had and heard. I am especially thankful for Jim Quist for his knowledgeable and caring service. His service was above and beyond..."

Monir Moghadam

"I have done three mortgages with new castle. Perfect efficincy and super happy to work with them again."

Yuankai Huo

"The NewCastle team helped us achieve our long-time goal of becoming homeowners. I never dreamed closing on a home could go so smoothly for us. They were..."

Michele Librado

"Highly recommended! Jim and his entire time were friendly, helpful, and responsive. I'm glad I worked with this business, who has an office right here in the city and understands the intricacies of the Chicago market."

Keenan D

"Had a great experience working with Jim and his team. Surely recommended!"

Mo T

"It’s been a absolute pleasure working with the New Castle team for the 2nd time, I can’t say enough good things about this company..."

Pat McRay

"I worked with Jim last year and worked with him again this year as well. Jim was very helpful, and is very obvious that he..."

Alex Alvarado

"I just closed on my home yesterday, as a first time home buyer all because of Jim, literally!!!! …"

Day Day

Physician mortgage for Illinois doctors

Own a home that fits your lifestyle.

No down payment: Buy the perfect place sooner.

$2,500,000 loan limit: Finance a higher-value home.

No private mortgage insurance: Keep your monthly costs low.

Get a rate quote for a physician mortgage.

“The condo is close to work and in a nice neighborhood. But it’s over $1,000,000, and after years of medical school and residency, saving money for a down payment has been challenging.”

A home loan that fits your financial situation

You found the perfect place. It's near the hospital, in a safe neighborhood, with everything you hoped for. But the $1 million price tag seems like an impossible dream after years of medical school and residency left little room for savings.

We know limited savings, new employment, and high student loan debt prevent many young doctors from buying homes early in their careers. So, we offer an affordable mortgage to help you buy a more valuable property without waiting.

100% financing eliminates the need to save a significant amount upfront. No private mortgage insurance keeps monthly costs low, even for a high-value loan.

This loan lets you establish a stable, fulfilling personal life sooner, providing a sense of personal accomplishment. Suddenly, your dream home is within reach.

Enjoy a lower rate and better service from a local lender you can trust.

While you focus on your medical career and personal goals, our staff of certified mortgage underwriters will guide you to homeownership, making sure everything goes smoothly.

Talk to a mortgage expert at NewCastle Home Loans.

You’ve earned it.

Why wait?

Buy the home you want.

You can afford it.

How do I get approved for a physician mortgage?

Personalize your home loan.

Apply online.

Receive your mortgage approval letter.

Frequently asked questions about the physician mortgage

What credit score do I need for a physician mortgage?

How much is the down payment for a physician mortgage?

What type of property can I buy with the physician mortgage?

Do I need to pay monthly mortgage insurance for a doctor mortgage loan?

Can I get approved for a physician mortgage if I start a new job?

Can I get approved for a physician mortgage with student loan debt?

Can a non-permanent resident get approved for a physician mortgage?

What is a 7/6 adjustable-rate mortgage (ARM)?

Can I refinance a physician mortgage?

What are the physician mortgage loan rates?

View the current interest rate and monthly payment. See closing costs upfront to determine the cost of a home.