Unique House Financing for Medical Professionals
MortgageDepot’s Docs Program, also referred to as a Doctor Mortgage, supplies a path to homeownership with as much as 100% financing and no non-public mortgage insurance coverage (PMI). Medical professionals usually face distinctive monetary circumstances, together with excessive pupil mortgage balances, delayed revenue development throughout coaching, and the necessity to relocate for profession alternatives. By eliminating PMI and permitting for top LTV financing, we empower medical professionals to buy a main residence with out depleting their financial savings.
Eligible Medical Professionals
This program helps each early-career professionals and skilled practitioners, recognizing the robust incomes potential and long-term monetary stability related to medical careers.
At the least one borrower should maintain one of many following medical designations:
- Medical Physician (MD)
- Physician of Osteopathy (DO)
- Physician of Dental Surgical procedure (DDS)
- Physician of Dental Drugs (DMD)
- Physician of Pharmacy (PharmD)
- Physician of Veterinary Drugs (DVM / VMD)
- Physician of Podiatric Drugs (DPM)
- Licensed Registered Nurse Anesthetist (CRNA)
- Medical residents, fellows, and interns with qualifying medical levels
Program Highlights and Advantages
MortgageDepot’s Medical Skilled Mortgage Program presents premium financing benefits:
- Financing out there from 90.01% as much as 100% LTV for certified debtors
- No PMI required, even with excessive loan-to-value financing
- Most mortgage quantity as much as $2,000,000
- Most debt-to-income ratio as much as 50%
- Minimal credit score rating of 680
- Fastened-rate mortgage choices: 15, 20, 25, and 30-year phrases
- Adjustable-rate mortgage choices: 5/6, 7/6, and 10/6 ARMs
- Main residence financing solely
- 1-unit properties eligible
- Buy and Fee-and-Time period Refinance choices out there
- Non-occupying co-borrowers permitted
- Present funds allowed for reserves
Our Docs Program presents a financing answer tailor-made to your career. Our crew makes a speciality of structuring mortgage options that align together with your present revenue, future incomes potential, and long-term monetary objectives.
In case you are a medical skilled looking for high-LTV mortgage financing with no PMI, our Docs Program is for you. Contact our crew to discover your choices.
