Program Information:
- Available to licensed medical practitioners holding the following degree designations: M.D., D.D.S., D.M.D., D.O., DVM/Veterinarian, D.P.M./Podiatrist, and O.D./Ophthalmologist.
- Single-family primary residences, PUDs, townhomes, and condominiums (warrantable only)
- Up to 100% financing with no private mortgage insurance for loan amounts up to $1,000,000
- Up to 95% financing available with no private mortgage insurance for loan quantities ranging from $1,001,000 to $1,250,000.
- Up to 90% financing is available with no private mortgage insurance for loan quantities ranging from $1,250,001 to $1,500,000.
- Student loans that are currently in deferment or forbearance status shall not be considered part of the student loan debt.
- Student loan payments must adhere to Fannie Mae and Freddie Mac guidelines if they are non-deferred.
- Available loan options include: 30-Year Fixed, 15-Year Fixed, 10/1 ARM, 7/1 ARM, and 5/1 ARM (amortized over 30 years).
- Long-term lock-ins of up to 12 months are available with a one-time upfront fee of 0.25 points.
- A credit score of 700 or higher is required for 100% financing for Post-Resident Doctors.
- A credit score of 720 or higher is required for 100% financing for Resident Doctors.
- Maximum debt-to-income ratio of 43%, with exceptions evaluated on a case-by-case basis.
- Closing may take place before the employment start date within a six-month period, provided there is an acceptable signed and completely executed contract with no significant contingencies and adequate cash reserves.
- Permissible Gift Funds.
- There are no available options for closing cost rate plans.
- Construction draw loans are exclusively available for Post Residents in Ohio, Michigan, Kentucky, Indiana, Pennsylvania, and West Virginia.
- For additional information from our National, Regional, and Local Physician Lenders, please complete the form below. We will be in touch with you momentarily to discuss the most suitable doctor program in your State.