Terms
Key Loan Highlights:
For existing resale properties and move-in-ready newly constructed homes:
- $0 Down Payment up to $1,500,000
- 5% Down from $1,500,001 to $2,000,000
- 10% Down from $2,000,001 to $3,000,000
- No Private Mortgage Insurance (PMI) & no prepayment penalties
- Single-family homes, townhomes, and Fannie Mae warrantable Condos. No multi-unit properties.
- Principal residence only. Not for investment properties or second homes.
- Flexible Terms: 15 & 30-year fixed and 5/6, 7/6, 10/6, and 15/6 adjustable-rate mortgages (ARMs).
Highlights for Construction Loans:
Buy a lot and work with the builder of your choice (bank approval required) to build your custom dream home with a low-down payment physician construction loan.
- 5% Down Payment up to $1,500,000
- 10% Down from $1,500,001 to $2,000,000
- 15% Down from $2,000,001 to $3,000,000
- Builders draw period of up to 24 months.
- No reserves required.
Professions
MD, DO, DDS, Resident, Fellows, DVM, DPM, Pharmacist
Strengths
Our programs understand the careers of medical professionals and have several flexibilities and advantages you.
- Close Early: Use your future employment contract to close up to 90 days before your start date.
- Student Loan Exclusions: Student loans are excluded from DTI for residents with 6 months remaining in training.
- IBR/IDR payments are accepted for post-residency attending physicians.
- Extended Eligibility: Qualify up to 15 years post-residency (time limits waived if relocating for a new job within one year).
- Flexible Capital & Backing: Gift funds allowed for down payment or closing costs. Family co-signers permitted. No reserve requirements.
- Citizens, Permanent Residents, & H1B Visas are eligible.
- Credit scores down to 660, provided no late payments in the prior 24 months.
Disclaimer
