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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:
- 720
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 2nd 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:
- Primary Purchase Only ( Investment and 2nd homes are ineligible)
Product Features:
- No Mortgage Insurance
- No minimum loan amount
- Up to 100% financing
Chelsea Newman
Mortgage Loan Officer
Fifth Third Bank
NMLS #1252392
200 East Robinson Street
Orlando, FL 32801
Cell: 407-304-8658
Fax: 844- 868-3908
Email: chelsea.newman@53.com
Website: https://secure.53.com/mlo/chelseanewman
