First Community Mortgage
First Community Mortgage offers a product menu second to none with a 100% customer service centric approach to anything and everything that we do. Our physician loan offering in particular offers very competitive terms and includes 100% financing up to $1M, 5% down up to $1.75M, and 10% down up to $2.5M, ALL with no mortgage insurance! Keep in mind that we are going to tailor our loan offerings for each individual client based on what fits their needs the best. This will include very competitively priced jumbo loan offerings that can accommodate larger loan amounts, creative financing approaches available as well for those with credit challenges, income challenges, etc.
Loan Officers
Terms:
Our physician loan offering is going to come with very competitive terms, which include the following:
100% financing up to $1M
5% down up to $1.75M
10% down up to $2.5M
ALL with no mortgage insurance!
Gift funds are acceptable
These great terms are available with a 30-year fixed loan, a 7-year ARM, or a 10-year ARM. These ARMs will be on 30-year amortizations with a fixed rate period of either 7 or 10 years. Financing is available for primary residences for 1-to-2-unit residences, condos, PUD’s, townhomes, and approved modular homes (pre-fabricated homes built to state and local building codes).
Our physician loan program is available for eligible physicians beginning residency after loan closing, with the following required documentation:
- A fully executed/signed employment contract or offer letter in which all contingencies have been met
- Verification that our borrower will have sufficient income or cash reserves to support the mortgage payment and any other obligations between the first payment due date and the start of employment.
Professions:
MD, DO, DDS, DVM, DPM
Strengths:
To recap our physician loan offering comes with the following strengths:
- 100% financing up to $1M
- 5% down up to $1.75M
- 10% down up to $2.5M
- ALL with no mortgage insurance!
- Gift funds are acceptable
- 30 year fixed, 7 year and 10 year ARMs all available
- Very competitive interest rate offerings
First Community Mortgage also offers an extensive list of products that even outside of our physician loan program will allow us to customize and tailor the best possible loan offerings for each and every client that we work with. We are committed 100% to best-in-class customer service and will make sure each and every client is afforded the opportunity to understand all best case options that are available to them.
Disclaimer:
Loan approval and terms are dependent upon borrower’s credit, documented ability to repay, acceptability of collateral property, and underwriting criteria. This loan product is offered by First Community Mortgage and administered through a broker relationship. For licensing information, go to: www.nmlsconsumeraccess.org.
262 Robert Rose Drive, Murfreesboro, TN 37129
