Rate
Rate’s Medical Professional Mortgage Program is a specialized financing solution tailored for medical professional providers who face unique financial hurdles, such as high student loan debt and delayed entry into the workforce.
Loan Officers
Terms
Unlock specialized financing with high limits and flexible credit tiers tailored for healthcare experts.
Tier 1: FICO 720+
100% Financing up to $2,000,000
89.99% Financing up to $2,500,000
Tier 2: FICO 680–719
100% Financing up to $1,500,000
95% Financing up to $2,000,000
75% Financing up to $2,500,000
Available Loan Terms
Fixed Rates: 10, 15, 20, and 30-year terms.
Adjustable Rates (ARMs): 5, 7, 10, and 15-year options.
Professions
MD, DO, DDS, DMD, Resident, Fellows, DVM, CRNA, DNAP, DPM, Pharmacist
Strengths
The Medical Professional Advantage
Speed & Confidence: Start with a no-cost pre-approval via soft credit pull. Upgrade to a “Power-Bid” fully underwritten pre-approval to compete like a cash buyer.
Career-First Closing: Close on your home up to 150 days before your employment start date using your future contract.
Flexible Qualifications:
Debt-to-Income (DTI) ratios up to 50%.
Low reserve requirements (0–6 months); gift funds and non-occupant co-borrowers are welcome.
Asset depletion and 1099 income considered.
Ownership Freedom: No pre-payment penalties and re-casting options available. Eligible for U.S. Citizens, Permanent/Non-Permanent Residents, and Foreign Nationals.
Property Variety: Covers 1–2 unit homes, warrantable/non-warrantable condos, PUDs, townhomes, and modular homes.
Zero Out-of-Pocket: Can be paired with seller concessions for a potential no-money-down closing.
Comprehensive Lending Suite
Beyond medical-specific loans, Richard provides a full spectrum of financing through the Rate Loan Selection:
Standard & Government: Conventional, Jumbo, VA, FHA, USDA, and Down Payment Assistance.
Investment & Equity: DSCR financing for rentals, second homes, HELOCs, and 2nd mortgages.
Non-QM Specialty: Bank statement loans, P&L-based qualifying, bridge loans, ITIN, and Fix & Flip financing.
Disclaimer
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Refinancing your mortgage may increase costs over the term of your loan. Restrictions may apply.
Guaranteed Rate, Inc. D/B/A Rate; NMLS #2611; For licensing information visit nmlsconsumeraccess.org. Equal Housing Lender. Conditions may apply.