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Doctor Loan

This loan program helps medical professionals qualify for a home loan, even with student loans and limited savings. Eligible borrowers include currently practicing medical professionals or those who’s employment will start within 90 days of closing.

The Doctor’s loan is a 30-year mortgage designed to exclude student loan payments to overcome debt ratios when obtaining a mortgage.

What is it?

For doctors who spend a lot of time focusing on the health and well-being of the public, this program focuses on doctors who are eager to take the next step toward homeownership or looking to refinance their mortgage. This mortgage is designed to exclude student loan debt and does not require a down payment nor mortgage insurance.

When calculating debt to income, the student loan debts are not included, if in deferment for at least 12 months.

In order to qualify for this loan you must be a doctor with a minimum certification of a M.D., D.O., D.D.S., or D.M.D. medical doctors including podiatrists, ophthalmologists and veterinarians. That being said, you must have an employment contract or verification of terms of employment acceptance. The property must be your primary residence and no more than 2 units.

Why is it different from other mortgages?

It is important to note that the income received from future primary employment, including salary increase, within 60 days of the note date may be used to qualify.

Talk to a loan officer to find out if this is the best option for you.

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