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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

     
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