Home Loans Exclusively for Medical Professionals
Becoming a doctor, vet, dentist or other medical professional takes years and lots of hard work. After you have finished your training it can be like starting a whole new life. A physician mortgage for your own home is the next natural step.
At Good to Go Mortgage we will guide you every step of the way. It is easy to secure your physician mortgage with zero down payment.
We are dedicated to provide doctors, veterinarians and dentists with preferred rates.
- 10% down payments up to $1.5million
- 15% down payments up to $1million
- Zero down on loans up to $750,000
- No Private Mortgage Insurance (PMI)
- Preferred Terms and Rates
With a Physician Mortgage You Can Get the Place of Your Dreams
If you are still paying for your medical school student loans, you may have difficulty qualifying for conventional home loans. That’s what a physician mortgage does.
What Types of Doctors Can Apply?
Medical residents and licensed medical doctors (MD) are candidates. These licensed doctors also qualify for a physician mortgage:
- Doctor of Podiatric Medicine (DPM)
- Doctor of Osteopathy (DO)
- Doctor of Dental Science (DDS)
- Doctor of Ophthalmology (MD)
- Doctor of Optometry (OD)
- Doctor of Dental Medicine (DMD)
Could I refinance my current home with a physician mortgage?
Yes. There are even options for you to receive cash back for 100% of the equity in your home. Condos are allowed, too.
How long after I start work do I have to wait before I can apply?
You are eligible to apply as soon as you graduate from Medical School. Simply show the “Match Day” letter that assigns you to a resident program. This letter includes your position, start date, and salary. You can close on the purchase of your new home up to 60 days before your first day of work. You will need to demonstrate that you have enough cash to make your payments until you do start working.
My student loans are currently deferred. How does the physician mortgage calculate my debt-to-income ratio?
When your medical status is a Resident or Fellow plus your credit report says “student loan – forbearance” or “student loan – deferred payment”, which is typical, then the student loan is not included in the calculation.
Do student loan payments impact doctors and dentists who are not Residents or Fellows?
Yes. Your debt-to-income ratio includes your student loans.
What about my Credit Score?
Your credit score needs to be about 680 at minimum. The higher your credit score, the lower your down payment requirement.
A physician mortgage is exclusively designed to help new doctors, veterinarians and dentists establish themselves as homeowners. You have worked hard to get where you are. It is time to enjoy the fruits of your labor.