Yes, we offer the famous "Doctor Loan!" This mortgage is for MDs, DOs, Dentists, Podiatrists, Optometrists and Veterinarians! At Huron Valley Financial, we understand the financial challenges associated with being a new physicial or resident with medical school debt. Our Doctor Loan provides qualified physicians and residents a no money down, no PMI mortgage loan. We also understand the challenging schedule most new doctors face. In short - we know how to help doctors with their mortgage financing.
With our Doctor Advantage Loan Program, borrowers can put as little as ZERO down on the purchase of a home or a condominium. Do you know a doctor who has great income but not much money saved up to use as a down payment on a home purchase? This loan would be ideal for that person. Worried about the intense schedule once residency begins? No problem. With our Doctor Advantage loan, you just need to start work within 60 days of closing and we can even make exceptions to that on a case by case basis.
Maybe qualifying for a mortgage is a problem. We won't count student loans against the doctor as long as they are still in residency and the loans are deferred. This is a great way for a new resident to own a home while in residency and not just make their landlord rich! Owning a home or a condominium allows the initial investment to grow. Once the residency has been completed, the doctor has a nice home to sell or to use as an investment property for rental.
Loan amounts can go up to $1,000,000 although doctors in residency are capped at borrowing $417,000. The best part about our Doctor Advantage Loan? There is NO PMI even with less than 20% down!
This unique loan allows medical residents and practicing physicians the opportunity to enjoy low rates and exceptional lending terms. Give me a call today at 734.238.3MTG (684) if you would like more information about our exclusive Doctor Loan program!