Florida availability
LMCU’s current Doctor Mortgage eligibility language specifically references Florida applicants and requires an automated payroll deposit for qualifying Michigan and Florida borrowers. A current physician-lender directory also identifies Matt Adler, NMLS #138345, for Florida. Final authority to originate, program footprint and property eligibility should still be confirmed for the address and application date.
Current LMCU doctor-mortgage terms to compare
LMCU currently advertises 100% financing up to $1.25 million for well-qualified borrowers, 95% financing up to $1.5 million, 90% financing up to $1.75 million, loans up to $2.5 million, no required mortgage insurance, and fixed- or adjustable-rate options. Eligible professions listed by LMCU are MD, DO, DDS, DMD, DPM and CRNA. Deferred student debt may be excluded from the debt-to-income calculation. Terms, pricing, property eligibility, payroll-deposit requirements and availability must be confirmed for the borrower and property before an offer.
- 0% down up to $1.25 million for qualifying transactions
- 5% down up to $1.5 million and 10% down up to $1.75 million
- No required mortgage insurance under the advertised program
- Residents, completed residents and established doctors may be eligible
- A signed employment contract may support planning, but underwriting must confirm start-date rules
Florida medical markets and relocation
Common physician destinations include Miami and the University of Miami/Jackson system; Tampa General, USF Health and BayCare; Orlando Health, AdventHealth and UCF-linked programs; Jacksonville’s Mayo Clinic and UF Health; and regional systems across Southwest Florida and the Panhandle. Begin with employment location, call requirements, tolls, commute and storm-evacuation realities.
Insurance, flood zones and the payment
Homeowners, wind and flood coverage can materially change qualification. Obtain real insurance indications before the financing contingency expires, especially for coastal properties, older roofs and homes in mapped flood zones.
Florida condos need two approvals
The borrower can be strong while the project is not eligible. Budget, reserves, milestone inspections, structural reports, litigation, insurance and rental concentration can affect a condominium review. Request association documents early.
Taxes, homestead and closing charges
Florida buyers should model property taxes from the expected purchase price rather than the seller’s capped assessment. Homestead exemption may reduce taxable value after eligibility and filing. Documentary-stamp and intangible-tax charges may be part of the closing-cost analysis; the closing agent and tax advisor should confirm the transaction-specific amount.
When another mortgage may be stronger
A conventional loan may price better for a borrower with substantial cash and a standard file. Compare the Doctor Mortgage against fixed and adjustable alternatives using cash to close, complete payment, five-year interest and the value of retained liquidity.
Frequently asked questions
Can a Florida doctor buy with 0% down?+
LMCU advertises up to 100% LTV through $1.25 million for eligible Doctor Mortgage borrowers. Credit, property, profession, payroll deposit and all other underwriting requirements apply.
Are Florida condos eligible?+
Possibly. Both the borrower and condominium project must meet the selected program’s requirements, including insurance and project-review standards.
Can I qualify from a future Florida employment contract?+
A contract may support qualification when the program accepts its start date, compensation and conditions. Provide it early for a written underwriting review.
Does homestead exemption apply automatically?+
No. Eligibility and filing are handled through the local property appraiser. Do not subtract a benefit until you understand the county process and timing.