4 min read
Starting a Practice AND Buying a Home—It Can Be Done!
One of the biggest steps in your medical career could be establishing your own practice. A few years in a group medical practice teaches you a lot about working with other doctors, and you may have discovered you have a large patient base with which to build your own practice. Perhaps you have made a huge dent in your student loans and a large percentage of that debt has been lifted after years of medical practice, so it feels like the ideal time to branch out on your own.
There are a lot of “what-ifs” in opening your own practice, and if you have been renting for a while, moving to a new location could mean finding a new—and more permanent—home. Along with a great number of financing options to help you launch a new endeavor, there are preferential mortgage possibilities for a new home–and instead of giving your money away as rent, you can be building equity in your own property. Lenders are looking for the stability and reputation physicians offer as customers, so now may be the perfect time to consider a physician mortgage. You could be ready to begin a banking relationship with a financial institution, one with a history of providing medical professionals with great rates and service.
The physician mortgage industry is filled with lenders of all sizes and geographical focuses, offering doctors with a host of options when searching for the right financing institution. We present this series on some of the best-known and most respected banks, giving physicians and other medical professionals a list to consider for a potential mortgage.
With its main U.S. office based in Cherry Hill, New Jersey, TD Bank began as a merger of two modest banking institutions in Canada. They joined in 1954 as the Toronto Dominion Bank, and TD has expanded even more thanks to several additional mergers and acquisitions throughout its history. Its first slogan was “The Bank Where People Make the Difference”, and the lender now serves more than 9 million customers through over 1,200 branches in the eastern U.S. The 8th largest bank in the United States, TD Bank was recognized in 2019 for its outstanding customer satisfaction in the Southeast U.S. by J.D. Power. This is merely one of various awards for its success as an employer, for its diversity, and as a small business lender.
TD Bank’s Medical Professional Mortgage Loan Program offers special features for doctors and dentists, including:
What Makes TD Bank’s Medical Professional Mortgage Loan Program special:
Minimum Credit Score
Loan Amounts For Residents & Fellows
Loan Amounts For Practicing Physicians
TD Bank is proud to be known as “America’s Most Convenient Bank”, acting as a leader in the banking industry for offering extended working hours to serve its customers. In fact, it is one of few banks open on both Saturdays and Sundays, providing its exceptional financial services to customers like doctors, who often have odd (and long) working hours. With so many branches found throughout the East and Southeast part of the United States, it is likely that there is a TD Bank branch near you. To find out if TD Bank is the right fit for your physician mortgage, check out their website. You can also discover more about the other physician mortgage loan providers we have shared by reading our entire series of lender reviews.