Physician loans for doctors have become increasingly popular in recent years due to the unique financial needs of medical professionals. These loans are specially tailored to accommodate the high debt-to-income ratios often found among doctors, as well as the long years of education and training required in their profession. With physician loans, doctors can access financing options that offer competitive interest rates and flexible repayment terms. This allows them to manage their student loan debt while still being able to pursue their career goals and financial milestones. Whether doctors are looking to buy a home, start a practice, or consolidate their debts, physician loans provide a valuable solution that caters to their specific needs. As the demand for physician loans continues to grow, financial institutions are recognizing the importance of offering specialized products that support doctors in achieving both their personal and professional aspirations.

We believe that this comprehensive information will be a valuable resource, whether you're a first-time homebuyer or planning to upgrade your current home. Here's a breakdown of the exceptional features of our physician loan program:

Physicians: This program is open to residents, fellows, and a range of medical professionals, including MDs, DOs, DMDs, and DDSs. It's an ideal choice for physicians who are at the outset of their careers, and it permits financing for up to two properties.

No Income History Required: Say goodbye to the hassles of providing extensive income history. You can start your loan application within 90 days of your projected closing date, and all you need is the essential documentation, such as a contract. This is particularly advantageous for doctors in the midst of a relocation.

Acceptance of 1099 Contracts: We readily accept 1099 contracts. Moreover, for those with less than two years of employment history, we'll use the base payment for new employment.

Employer Down Payment Assistance: If your employer offers secondary financing for down payments, this is perfectly acceptable.

Student Loan Payment Flexibility: We offer flexible options for student loan payment calculations. You can utilize income-based calculations with the right documentation. If your student loan is in deferment for at least 12 months from the end of the closing month, it can be excluded from the debt-to-income (DTI) ratios, provided you supply the necessary documentation.

Maximum Loan Amount and Loan-to-Value (LTV): These limits apply to all states except New York.

• Up to $2,000,000 loan amount with a 10.01% down payment. You'll need 2-4 months' worth of reserves based on the loan amount, and there's no requirement for mortgage insurance. Example: If your purchase price is $2,222,469, your loan is $2,000,000, and your down payment is $222,469, your DTI should not exceed 45%. A minimum FICO score of 720 is essential. If your FICO falls between 680-719, your loan amount will be adjusted accordingly.

• Up to $1,500,000 loan amount with a 5% down payment. Once again, you'll need 2-4 months' worth of reserves based on the loan amount, and there's no need for mortgage insurance. Example: If your purchase price is $1,578,947, your loan is $1,500,000, and your down payment is $78,947, your DTI should not exceed 45%. A minimum FICO score of 720 is required. A FICO score between 680-719 will result in a reduced loan amount.

• Up to $1,000,000 loan amount with 100% financing. A 45% DTI and a FICO score of 720+ are necessary.

• For new doctors, residents, and fellows, a FICO score between 680-719 is acceptable, and they are also eligible for 100% financing. However, please note that this option does not apply in New York, California, District of Columbia, Florida, Hawaii, Maryland, Nevada, and Rhode Island.