States: AR, KS, MO, OK
Terms:
- We will go to 103% LTV up to a loan amount of $1.25mil (Can roll up to 3% in closing costs into the loan).
- 95% LTV up to a loan amount of $1.75mil
- We offer 5YR ARM, 7YR ARM, & 10YR ARM, all of which are amortized of 30 years.
- We offer a 15YR fixed rate Physician Mortgage Loan in addition to our ARMs.
- We offer these loans in KS, MO, AR, OK
Professions:
They have to be a practicing physician, MD or in Residency. The only doctors we don’t do are Chiropractors and Veterinarian.
Strengths:
- 103% financing, I believe I am the only lender that allows closing cost to be financed.
- H1B & J1 work Visa accepted.
- We take the higher mid-fico score of either borrower, even if the spouse is not a physician, I don’t know of any lenders that do this.
- 660 minimum score for practicing physicians, 640 for residents
- No monthly PMI and no prepayment penalty if you want to pay the loan off early.
- My clients have my cell number and can get a hold of me 24/7, I pride myself on my customer service.
- We portfolio these loans which means they stay with Arvest for the life of the loan. We service the loan and they can call my cell number anytime with questions.
- Physician can close up to 4 months before they start their job, I don’t know of any other lenders that do that, most are 60-90 days.
- Debt Ratio goes up to 50%
John Kelley (NMLS #1484736) at 660-287-4462 or [email protected]
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