Novus Home Mortgage

Our home loan for Medical Professionals or Physicians was designed to help those in the medical profession achieve their dreams of homeownership. At Novus Home Mortgage, we are committed to finding the right mortgage for our customers, including those who are committed to save lives. We understand your unique needs. You might have accumulated debt to become a healthcare professional, but we are here to help you! Our offering will help you buy a home early in your career, and sometimes even before you start your new job!

We are a nationwide portfolio and correspondent lender with in-house underwriting providing quicker closings.

We offer services for:

  • Purchase
  • Refinance
  • Construction

For:

  • Primary residence
  • Second Home/Vacation Home
  • Investment (LTR)
  • Short Term Rental (STR)
  • Multi-family and Mixed-use properties up to 8 units

Other products offered:

  • Fannie Mae & Freddie Mac – Conventional, and High Balance
  • Community Reinvestment Act (CRA)
  • VA – No Loan Limit, No DTI Limit
  • Jumbo – as low as 10% down
  • FHA
  • USDA
  • ITIN – as low as 10.01% down
  • Construction loans – Conventional & FHA (min 5% down), VA (min 0% down), Jumbo (min 20% down)
  • DPA for qualified borrowers
  • Non-QM – DSCR (LTR & STR), Business and Personal Bank Statement, 1099, Asset Depletion, etc

It’s attention to the “details” that sets apart the finest Loan Officers. Please reach out 24×7. My team and I are here to understand your mortgage and financial needs and find the best financing solution for you.

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Schedule a Call!

Loan Officers

Upen Patel (NMLS #1374243)
STATES:  AL, CO, CT, DE, FL, GA, IL, IN, IA, KS, KY, ME, MD, MA, MI, MN, MS, MO, MT, NE, NH, NJ, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY
EMAIL:  [email protected]
PHONE:  571-331-5161

Terms:

0% down up to $1 MM loan amount
5% down up to $1.75 MM loan amount
10.01% down up to $2.5 MM loan amount

Min 720 FICO to qualify for above min down payment

Can go as low as 680 FICO – with higher down payment

Owner occupied Primary Residence

1-2 unit residential property – Single Family, Townhome, PUD, Condo, Duplex
Non-Warrantable Condos are covered – min 10.01% down
Modular Homes

Rental income can be used to meet DTI requirement

50% Max DTI
No MI
No Prepayment Penalty

Professions:

MD, DO, DDS, DMD, Resident, Fellows, DVM, DPM

Strengths:

We say YES!

Yes to 1099 income without 2 yr history (conditions apply)
Yes to using future income to qualify – don’t have to wait to be within 90 days of start of new job (additional reserve requirements will apply)
Yes to all covered professionals – No limit on the number of years out of residency/fellowship
Yes to US residents including work Visa holders – Permanent Residents Aliens, H-1B, J-1, TN NAFTA and others
Yes to acreage (normal for the area)
Yes to you owning multiple properties (additional reserve requirements will apply)
Yes to significant other and/or family to be co-borrower/co-signer to help you qualify, even if they will not occupy the property
Yes to gift funds from family members
Yes to DPA funds if you qualify (hint hint residents!!!)
Yes to Bridge loan if you have equity in the current house and need to access it to purchase new home
Yes to a Construction loan to build your dream home

Disclaimer:

Subject to credit approval. Terms and conditions may apply. VA is subject to VA eligibility requirement. Property insurance is required for all loans secured by property.
Novus Home Mortgage is a division of Ixonia Bank, NMLS #423065 | All Rights Reserved | novushomemortgage.com
Member FDIC | Equal Housing Lender