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Apr 6 2022

The Doctor Home Loan

I want to discuss a new loan program designed for medical professionals, which allows them to get into a new home at 100% LTV, that means no money down.

VA loans and USDA loans are the only standard loans that allow 100% financing, so this is a unique opportunity. Let’s dig into the fundamentals.:

No Down Payment Home Loan

Simply put, this loan does not require any down payment. This allows you to decide how to best use your hard earned savings as you deem most beneficial.

Erasing Student Loans from DTI (Debt-to-Income Ratio)

Student loans that are in deferment or forbearance do NOT count against DTI. This allows a medical professional to pre-approve with more purchasing power, even with 100% financing. If your new dream home gets into a bidding war, higher pre-approvals give you the capital to maintain that home purchase when your original offer gets beat out.

Any student loans that are not in deferment or forbearance still count against DTI as normal.

“No Job” Necessary

Starting a career in a new neighborhood with a new source of income can be tough. Standard loan programs require 2 years of income history to qualify as a borrower, thus the need for 2 years of W2s or 2 years of tax returns if you are self-employed. Since the Doctor Loan does not require that income history, you can qualify for a new home fresh out of med school in your new location. So long as you have a non-contingent job offer that begins employment no later than 90 days, you may close on this loan for a new home purchase based on your upcoming salary amount. This feature can comfortably get you into a new home well before stepping foot into your new role. Imagine being able to begin your new career with 100% focus, not having to worry about home searching or calculating rent leases against future home purchases.

Adjustable Rate Mortgage Terms (ARM Terms)

Keep in mind that this is not a traditional loan. There are three ARM options available:

  • 3/6
  • 5/6
  • 7/6

The first number represents the starting interest rate and the number of years that the rate remains UNchanged. The second number represents that after the initial interest rate duration, the rate will adjust every six months. The first consistent interest rate term can be three years, five years, or seven years, it’s your choice. There is a lifetime cap of five additional points (up or down.) You may ask, “Why would I consider an ARM?” Typically ARM loans have better interest rates than conventional loans because if interest rates go up, the lifetime cap on the adjustable rate will be higher. ARMs have been popular for first-time home buyers because it keeps the monthly mortgage payment low enough to begin their journey of home ownership.

Home Loan Qualifying Factors:

Below are some basic factors needed to qualify for this loan.

Home Type: 1-2 Unit Primary Residence

Max DTI: 43%

Minimum Credit Score: 720

Minimum Loan Amount: $100,000

Max Loan Amount: $1Mil at 100% or $1.5Mil at 95% LTV

Minimum Down Payment: 0%

Income History: -90 Days

Non-Contingent Job Letter: Executed/Accepted

Verification of Employment: Verbal

Reserves: 2 Months

Who is Considered a Medical Professional:

Below are the eligible professional designations:

  • Medical Resident
  • Medical Doctor (MD)
  • Doctor of Dental Medicine (DMD)
  • Doctor of Ophthalmology (MD)
  • Doctor of Osteopathy (DO)
  • Doctor of Chiropractic (DC)
  • Doctor of Surgery (DCH)
  • Medical Fellow
  • Doctor of Dental Surgery (DDS)
  • Doctor of Optometry (OD)
  • Doctor of Podiatric Medicine (DPM)
  • Doctor of Pharmacy (PharmD)
  • Doctor of Veterinarian Medicine (DVM)
  • Doctor of Psychiatric Medicine (DPM)

Qualify for the Doctor Home Loan

Many avenues into home ownership exist and I’m pretty excited about this one. If you have any questions, I would love to speak with you. Give me a call or text anytime and if for some reason I can’t answer, leave a message and I will get back to you asap.


Funding Juicy Solutions LLC

T: 619-402-9221

NMLS# 2269838