Residents, recent medical school graduates, and doctors in the early stages of their careers in Idaho may be burdened by expenses such as student loan debt. The Doctor or Physician Loan is specifically designed to offer favorable terms for home buyers in Idaho with great earning potential.
Benefits and Features include:
- Primary Residence.
- Eligible properties include:
- 1 unit properties.
- Fannie Mae warrantable Condos.
- Planned unit developments.
- Purchase and Rate & Term Refinance.
- Maximum Loan to Value (LTV) is up to 97%.
- Loan amount up to $850,000.
- Choose from: 30 Year Fixed Rates or 7/1 ARM loans available.
- Deferred student debt may be excluded from the Debt to Income Ratio.
- Interested party contributions are allowed:
- Seller can pay up to 3% towards closing costs and or prepaids.
- Some of the down payment can come from Gift Funds.
Eligible Borrowers Include:
- Medical Resident (Educational License).
- Medical Doctor (MD).
- Doctor of Dental Surgery (DDS).
- Doctor of Dental Medicine (DMD).
- Doctor of Optometry (OD).
- Doctor of Opthalmology (MD).
- Doctor of Podiatric Medicine (DPM).
- Doctor of Osteopathy (DO).
Call TODAY for complete guidelines and details!