DoctorLoan Program Eligibility & Requirements

The Doctor Loan Program is designed to help medical professionals secure home financing with specialized benefits tailored to their unique financial situations.  Whether you’re just starting your medical career or are an established practitioner, this program offers flexible terms and exclusive advantages to make homeownership more accessible.

Who is Eligible?

DoctorPrograms are generally available to the following medical professionals:

• Medical Doctors (MD)
• Doctors of Osteopathic Medicine (DO)
• Podiatrists (DPM)
• Dentists  (DDS & DMD)
• Certified Registered Nurse Anesthetists (CRNA)
• Veterinarians  (DVM)

Additionally,physicians who are currently in residency, fellowship, or internship programs are also eligible to apply.

Program Requirements

To qualify for the Doctor Loan Program, applicants must meet the following criteria:

1. Proof of Employment & Education

• Must provide a medical license and proof of degree in an eligible field.
• If still in training, a signed residency, fellowship, or employment contract is required.

2. Credit Score Requirements

• Minimum credit score requirements vary by lender, but a score of 700+ is typically preferred.
• Some lenders may accept lower scores with additional documentation or compensating factors.

3. Loan Amount & Down Payment

• Low or No Down Payment Options: Many doctor loan programs offer 0-5% down options.
• Higher loan limits than traditional conventional mortgages, often up to $2 million or more.

4. No Private Mortgage Insurance(PMI)

• Unlike traditional loans, doctor loans typically do not require PMI, even with a low or no down payment.

5. Student Loan Considerations

• Many lenders offer flexible debt-to-income (DTI) calculations, recognizing that physicians often carry significant student loan debt.
• Some programs exclude deferred student loans from the DTI calculation.  Student loan debt for physicians in raining are generally excluded from debt ratio calculations.

6. Primary Residence Requirement

• Must be purchasing or refinancing a primary residence or second home.  Rental income properties are not eligible.

7. Eligible Property Types

• Single-family homes, townhomes, and certain condos are typically eligible.

Why Choose a Doctor Loan?

• Lower upfront costs compared to conventional loans.
• More flexible underwriting to accommodate student debt.
• Little to no reserves required - reducing cash needed.
• Faster approval process for busy medical professionals.
• Exclusive benefits tailored to physicians and healthcare workers.

If you’re a physician looking to buy a home, our Doctor Loan Program offers a seamless and cost-effective way to achieve homeownership. Contact us today to learn more about your options and start your journey to homeownership!

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