Summit Funding is excited to announce the launch of our newest loan program: The Medical Doctor Loan! This loan program is designed especially for doctors, dentists and surgeons looking to purchase a home or refinance their current home to a lower rate. Through this program, future income may be used to qualify and there is flexibility with student loan payments.
Here are some program highlights:
- Up to 95% LTV
- Deferred student loans may be excluded from debt to income ratio, if deferred for a minimum of 12 months
- Gift funds may fund all or part of the down payment, closing costs, or financial reserves
- Primary occupancy only
- Minimum FICO score of 680
- Future income may be used to qualify
- Allowed property types include single family residence – 1 unit, PUD, warrantable condos
- One borrower on the loan must have one of the following designations/professions and must have a copy of the active license: Medical resident, Medical Doctor (MD), Doctor of Dental Science (DDS), Doctor of Dental Medicine (DMD) and dental surgeons specializing in oral and maxillofacial surgery, Doctor of Optometry (OD), Doctor of Podiatric Medicine (DPM), or Doctor of Osteopathy (DO)
Want to learn more about this program or to find out if you qualify? Fill out our Get Started form here to get in contact with a Loan Officer in your area!
This communication is for informational purposes only, this is not a commitment to lend. All loans are subject to buyer and property qualification. All programs, rates and fees are subject to change or cancelation at any time and without notice. Contact Summit Funding, Inc. to learn more about mortgage products and your eligibility.