By clicking Continue, you will be taken to a third-party website. Laurel Road, a Brand of KeyBank N.A., is not responsible for the content, links, privacy policy, or security policy of third-party websites.
Laurel Road’s innovative engineering culture is enhanced by the scale and resources that
come with being part of KeyBank N.A., Member FDIC. To see the full job details and apply
for this role, you’ll be redirected to our KeyBank recruiting site.
Laurel Road is a brand of KeyBank. KeyBank will be the lender of your loan. KeyBank is a direct lender, which means we support borrowers throughout the entire loan process and provide funds at closing.
For mortgages that close on or after April 1, 2019, your account number, loan terms, payment amount, and due date will all remain the same. KeyBank will be servicing your loan, and you can contact us at (800) 422-2442 with any questions.
If you took out a personal loan with Laurel Road prior to April 1, 2019, you may call (855) 674-1279 with any questions about loan servicing.
Customers using a TDD/TTY device, please use (800) 539-8336.
Laurel Road Mortgages are originated and serviced by KeyBank. If you have any questions related to your Mortgage which has been funded, please call KeyBank at (800) 422-2442. Clients using a TDD/TTY device, please use (800) 539-8336.
Yes, depending on the loan type, we typically require private mortgage insurance (PMI) when the Loan to Value (LTV) – the amount of the loan divided by the appraised value of the home – exceeds 80 percent. Some programs may not require PMI.
No, we currently do not offer these loans online. While we do not offer these loan types, a conforming loan may be another option depending upon your situation, for more information please call us at call us at (877) 801-4686, anytime between 9:00am-5:30PM EST.
Generally, a pre-qualification is an estimate of the size of the loan you may be eligible for based on unverified information. A pre-approval is generally a stronger estimate of your affordability because it is based on documented financial information that is submitted before you’ve found a home to purchase.
Anyone who has:
- Reached the age at which a mortgage can be legally obtained (may vary depending on state)
- Has a valid SS number or Individual Taxpayer Identification Number (ITIN)
- Can provide legal residency documentation
In order to make a credit decision, we require verification of your credit score and financial information. For your convenience, you can securely link accounts and/or upload documents to meet this requirement. Please note you are not required to provide verification documentation until after you receive a Loan Estimate.
The law requires that lenders take at least 10 business days from the date of a completed application to close and fund a residential mortgage. That said, it typically takes 45 calendar days or less to close a purchase mortgage if all of the requested information and documentation is submitted in a timely fashion. Refinancing a home generally takes 60 calendars days or less.
Points are optional and is additional money paid at closing that that may lower the rate for the life of the loan. Credits may result in a higher rate for the life of the loan in order to receive a credit that is received at closing to help cover closing costs. Credits cannot exceed closing costs.
Our online application lets you apply at your own pace, so you can move as quickly or slowly as you’d like − but we help move things along by letting you know when we need information, what information we need, what to do next, and how your application is progressing.
For questions regarding your mortgage application in progress, you can contact your Loan Account Manager at any time via chat or email, or you can call us at (877) 801-4686, anytime between 9:00 AM-5:30 PM EST, Monday -Friday. Members using a TDD/TTY device, please use (800) 539-8336. For questions regarding your existing funded mortgage, please contact our Member Services team at 1-833-HCP-BANK (427-2265) (TDD/TTY: 1-800-539-8336), or email us at [email protected].
The security of your personal information is one of our top priorities. Laurel Road’s loan origination system is encrypted at industry standards to ensure that our customers’ data is safe at all times.
As a national lender, Laurel Road (a brand of KeyBank N.A.) helps buyers work smarter by giving loan options with real, competitive rates. Our secure technology builds customized mortgages almost entirely online, simplifying the process with clear options, transparent fees, and human support when you need it.
Key Bank will service your loan, but reserves the right to transfer the servicing of your loan after closing. If we sell your loan, we will notify you of your new servicing lender before your first payment is due.
A cash-out refinance is when you unlock the equity in your home by refinancing your existing mortgage for more than what you owe. This could give you access to the equity in your house to pay off high-interest debt, complete some home improvements, or other necessary expenses.
Your monthly payments include principal and interest, as well as payments made to your escrow account (if applicable). The escrow account payment may include homeowners and/or flood insurance, property taxes and monthly PMI, as applicable.
An appraisal is required because a mortgage is a secured loan. We need to verify the value of the collateral in order to determine if it is sufficient when compared to the loan amount.
By gathering the most recent comparable sales that are most similar to the subject property both in square footage, style and location. The comparable sales are then used to adjust the price.
Closing costs are the fees and expenses you pay when you close on your home. They include standard expenses like appraisal fees, credit report fees, and title fees. But, depending on your specific loan and state requirements, there could be other costs as well. You can request a Loan Estimate at Laurel Road to see estimated closing costs based on your specific loan scenario and property location.
Your closing costs may include the following fees or charges:
Origination charges like application fees, processing fees, discount points, and rate-lock fees
Fees for services that are required and selected by Laurel Road like the appraisal fee, credit report fee, tax service fee, MERS fee, and flood certification fee
Fees for services that are required by Laurel Road, but the provider can be chosen by the consumer like title fees
Taxes and government fees like recording and transfer taxes/fees
Prepaids are the first payments for costs, such as homeowners insurance, flood insurance, real estate taxes, and prepaid interest
Initial escrow payment covers payment of future costs, such as homeowners insurance, flood insurance, and property taxes
Other costs including anything else not covered, such as an optional owner’s title policy
When you have entered a subject property into the system, you may lock your loan through the task created on your dashboard or by clicking the rate lock icon.
The interest rate is the cost you will pay each year to borrow the money, expressed as a percentage rate. It does not reflect fees or any other charges you may have to pay for the loan.
An annual percentage rate (APR) is a broader measure of the cost of borrowing money than the interest rate. The APR reflects the interest rate, any points, mortgage broker fees, and other charges that you pay to get the loan. For that reason, your APR is usually higher than your interest rate.
Quoted rates are eligible to change based on market conditions until you lock your rate. Fees are subject to change based market conditions until you receive a Loan Estimate. Once a Loan Estimate is received, the fees can only change within certain thresholds or if you request a change to the loan.
Our quoted rates reflect the current market rates for that day, but they are not guaranteed until you lock your rate during the application process. You can lock your rate once you’ve entered in the subject property in the system. Even though we cannot guarantee your rate until you lock your rate, you will see current market rates based on the information you provide.
Laurel Road’s Physician Mortgage is a home loan tailored specifically to physicians and dentists featuring up to 100% financing* for loans of $1,000,000 or less. These loans have fewer restrictions than conventional mortgages and recognize the lender’s trust in medical professionals’ creditworthiness and earning potential.
*100% financing and no private mortgage insurance (PMI) is only available to interns, residents, fellows, doctors, dentists, clinical professors, researchers, or managing physicians with a current license and a degree of Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), Doctor of Podiatric Medicine (DPM), Doctor of Dental Surgery (DDS), or Doctor of Dental Medicine (DMD). 100% financing is available when purchasing or refinancing with no cash out on a primary residence and loan amount does not exceed $1,000,000. Retired doctors are not eligible. Additional conditions and restrictions may apply.
Yes. Laurel Road is a brand of KeyBank, N.A. offering mortgage loans in all 50 states, plus Washington D.C. We do not lend in US territories. Our digital lending platform is available 24/7 at https://homelending.key.com.
No. This program is a sponsored portfolio program which allows for greater flexibility in underwriting, mortgage product offerings, and down payment options by recognizing the overall creditworthiness of the medical professional.
Primary residence single-family homes, single-family attached, Planned Urban Developments (PUD) and condominiums are eligible. Second homes are also eligible but a larger down payment may be required and additional restrictions may apply.
Please contact us at (800) 653-4067 for further details and information. Customers using a TDD/TTY device, please use (800) 539-8336.
0% down payment option for loans $1,000,000 or less*
A variety of mortgage options without PMI (Private Mortgage Insurance)*
*100% financing and no private mortgage insurance (PMI) is only available to interns, residents, fellows, doctors, dentists, clinical professors, researchers, or managing physicians with a current license and a degree of Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), Doctor of Podiatric Medicine (DPM), Doctor of Dental Surgery (DDS), or Doctor of Dental Medicine (DMD). 100% financing is available when purchasing or refinancing with no cash out on a primary residence and loan amount does not exceed $1,000,000. Retired doctors are not eligible. Additional conditions and restrictions may apply.
Only available to interns, residents, fellows, doctors, dentists, clinical professors, researchers, or managing physicians with a current license and a degree of Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), Doctor of Dental Medicine (DMD), Doctor of Dental Surgery (DDS), or Doctor of Podiatric Medicine (DPM). A borrower may have only two outstanding Doctor and Dentist loans at one time; one owner occupied and one second home. Residents that have a signed residency contract effective within the next ninety (90) days are also eligible. Retired doctors are not eligible. Additional conditions and restrictions apply.