Medical professionals have enough to think about in their day-to-day patient care. That’s why Greenway Mortgage developed an exclusive home loan for medical professionals which simplifies the mortgage process and offers up to 100% financing.
What is the Doctor Loan?
The Doctor Loan is a tailored home loan to meet the needs of doctors looking to purchase a home. These loans offer low to no down payment options, no mortgage insurance and require a minimum credit score of 680.
Who is Eligible for the Doctor Loan?
The Doctor Loan is available to Doctor of Medicine, Doctor of Osteopathic Medicine, Doctor of Podiatric Medicine, and Doctor of Occupational Medicine Service in New York*, New Jersey*, Connecticut and Florida.
Features and Benefits of The Doctor Loan
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Loan amounts up to $2.5 million*
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Min loan amount $500K
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Low to no down payment options (Max LTV up to 100%)
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Adjustable-Rate Mortgage (ARM) options available (3/5/7/10) & 30-Year Fixed Rate Mortgages Available
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No Mortgage Insurance
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Available for Primary Residence, Purchase and Rate & Term Refinances
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Available in: NY*, NJ*, CT & FL
What are the specific Doctor Loan eligibility requirements?
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680 Minimum Credit Score
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Single Family, Condo & Co-Op Only. No 2-4 Family Homes
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43% max DTI (student loans counted as actual documented payment or 1% of balance)
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*Loans above $2MM require 18 months PITI reserve. No reserve $2MM or below.
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*NY Counties include Bronx, Brooklyn, Manhattan, Queens, Staten Island, Westchester, Suffolk, Nassau, Rockland; NJ Counties include Bergen, Essex, Hudson, Monmouth, Morris, Ocean, Union
Eligible Borrowers
- Doctor of Medicine (MD)
- Doctor of Osteopathic Medicine (DO)
- Doctor of Podiatric Medicine (DPM)
- Doctor of Occupational Medical Service (OMS)
Eligibility requirements, exclusions and other terms and conditions apply.
Bottom Line
If you are a M.D, D.O, D.P.M, or O.M.S, please contact Greenway Mortgage to discuss this loan offer and to see if you qualify.
