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
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