Doctor Loan Programs

Established Doctor Program Overview

Established Doctor: Defined as a doctor who has been employed as a Non-Resident/Intern/Fellow for at least 12 months by a hospital or physician group or has been self-employed as a medical doctor for at least 2 years

Maximum Loan Amount:

$1.5 Million

Maximum LTV:

100% on $650k or below
90% for $650,001-$1 Million
85% for $1,000,001-$1.5 Million

Minimum Credit Score:

Borrower Eligibility:

Must be a licensed medical doctor (MD, DPM or DO degrees only) who has completed residency AND
Employed by a hospital or physician group as a Non-Resident/Intern/Fellow for more than 12 months OR
Self-Employed for at least 2 years OR
Teaching at a medical institution

Notes:

Primary Purchase Only ( Investment and 2^nd homes are ineligible)

Product Features:

No Mortgage Insurance
No minimum loan amount
Up to 100% financing

New Doctor Program Overview

New Doctor: Defined as a licensed Resident/Intern/Fellow scheduled to complete medical school and commence work within 90 days of the note date OR has commenced work within the last 12 months with a hospital or physician group.

Maximum Loan Amount:

$1 Million

Maximum LTV:

100% on $500,000 or less
95% on $500,001 or more

Minimum Credit Score:

680 for $417,000-$500,000
700 for $500,001-$650,000
720 for $650,001-$1,000,000

Borrower Eligibility:

Must be in residency or set to begin new residency within 90 days of note date OR
Has been employed as a non-resident for less than 12 months
MD, DPM or DO degrees only

Notes: