Established Doctor must be: Licensed medical doctor (MD or DO degrees only) who has completed residency AND Employed by a hospital or physician group as a non-resident > 12 months OR Self-Employed for at least 2 years Note: A psychiatrist is eligible but must have an MD and be licensed; A Doctor of Osteopathy (DO) is an eligible doctor type.

States Available: FL, IL, KY, MO, MI, OH, PA, TN, WV, GA, AL, NC, SC, WI

FICO CREDIT SCORE: 720 FOR 100% FINANCING 680 FOR 95% FINANCING

LOAN TO VALUE: 100% FOR A PURCHASE AND 95% FOR A REFINANCE

Eligible Property Types:

• Detached Single Family Residence
• Attached/Detached Condominiums
• Attached/Detached PUDs

Ineligible Properties(Jumbo Loan Amounts Only):

• Attached housing located in the state of Florida

Additional Requirements:

• 1-Unit properties only
• Investment properties and second homes are ineligible
• Construction to Permanent (C/P) and Lot Loans are ineligible
• All condominiums must be submitted to the Condo Review Department
• If at any time multiple valuation products are obtained, the most comprehensive valuation must be utilized.

New Doctor Purchase Borrower must be:

• In residency or set to begin new residency within 90 days of closing OR
• Has been employed as a non-resident for < 12 months

AND

• MD or DO degrees only

Note: A psychiatrist is eligible but must have an MD and be licensed; A Doctor of Osteopathy (DO) is an eligible doctor type.

The following document must be obtained if borrower is a Graduate of Medical School:

• Copy of current medical license
• Non-contingent contract (from hospital or physician group) signed by all parties and stating ALL of the following:
  • Position
  • Start date (must not be more than 90 days past Note date)
  • Salary
  • Length of contract

Note:  A non-contingent offer letter signed by all parties and stating all the required terms is acceptable.

The following document must be obtained from borrowers who are Pre-Graduates of Medical School:

• Contract or offer letter (from a hospital or physician group) signed by all parties contingent on the borrower’s receipt of their medical license
  • Contract or offer letter cannot contain any additional contingencies