Terms
- 0% down up to $1 million, 5% down up to $1.25 million, 10% down up to $1.5 million, and 15% down up to $2 million.
- NO PMI (mortgage insurance) required.
- 700 credit score minimum.
- Primary residence, Purchase only for single family, town home, and warrantable condominium.
- NO Prepayment Penalties with RECAST option available.
- Available products: 30-year fixed, 15-year fixed, 15/6 ARM, 10/6 ARM, 7/6 ARM, 5/6 ARM.
- Closing may occur prior to employment start date with an acceptable fully executed signed contract and proper cash reserves.
Professions
MD, DO, DDS, DMD, Resident, Fellows, DVM, OD, DPM
Strengths
- We close and service our physician loans in house and don’t sell your loan to another mortgage servicer after closing like most banks or lenders do.
- You would work with me from start to finish around your schedule, I don’t pass you off to a loan processor after initial application.
- We offer interest rate protection so if rates drop between initial application and closing, we have the option to float down your rate to match the current market rate for a one time $350 fee.
- Many physician lenders will only close your loan if you start your new position within 30-60 days. We will allow you to close up to 6+ months before your start date using your new employment contract, as long as you have sufficient assets to cover the payment prior to starting new job.
- Long term locks available for 9 to 12 months which are typically more affordable for a physician who is purchasing a new build that will not close until the home is complete.
- Physician loan refinance available for currently serviced clients only.
- Construction loans available in OH.
Disclaimer
NMLS #583593
