The advantage of the doctor loan is that you can get a bigger loan at a higher loan to value ratio than people who aren’t doctors.
A normal conventional loan maxes out at 417k in Texas.
A doctor loan can go up to 650k at 95% LTV, and up to 850k with 10% down.
A few additional notes on this program…
1) Loan only comes in 5/1 and 7/1 ARM. No 30 yr fixed loans on this program.
2) Need 3 months reserves.
3) Pending contract is acceptable given: Projected income is acceptable for qualifying purposes for a borrower scheduled to start a new job within 60 days of loan closing if there is a guaranteed, non-revocable, contract for employment.
If you are a doctor, and you need a great loan – contact me! I’ll be happy to help you!
I hope you have a great day! Thanks for reading!
Brett
Texas renters are spending more than 30% of their incomes on rent. It can be…
If you are looking for a home in the outer suburbs or in a rural…
If you have credit card debt it’s smart to consider a consolidation loan. If you…
I wanted to let you know we have a 2% to 5% downpayment and closing…
Do you have investment property, and would like to pull cash out of your property?…
Texas renters are spending more than 30% of their incomes on rent. It can be…
