95% Financing up to $1,000,000 with no mortgage insurance
89.90% Financing up to $1,500,000 with no mortgage insurance
85% Financing to $2,000,000 with no mortgage insurance
Close on your home up to 60 days prior to new employment start date (with an executed contract)
Eligible professions include Residents, MS, DDS, DO, DS, and Veterinarians
H1-B Visas are eligible
Student loans may be excluded from the DTI with proof of 12 months deferment/forbearance
Eligible Properties Types: One Unit Single Family, PUDs, 2 Unit Attached, Condos
Eligible Products: 5/1, 7/1, 10/1, and 15/1 ARM with 30 Year Fully Amortizing Loan Payment Terms
- 30 Year fixed is NOT available
Eligibility for the physician-focused financing is available to existing medical doctors including DOs, dentists, dental surgeons and veterinarians who are actively practicing and are within 10 years of residency; newly licensed medical residents who are currently employed in residency or fellowship; newly licensed medical students who are beginning new employment/residency and within 60 days of closing; or new medical professional graduates who are under contract for residency and within 60 days of closing.
Physician loans are different animals. They have different rules and qualifying criteria. No feeling is worse than not qualifying for the loan after you’re pre-approved. It makes for a REALLY bad day and a big mess. All of the loan officers listed on this blog specialize with doctors ONLY. They are battle tested, seasoned, and recommended by your peers. Give them a call!
Do you want a Physician Loan Specialist to contact you? I’ve made it real easy. Drop your name and preferred contact method in the form on this page and I’ll let him know you’re looking for him.