Credit Score in Atlanta>Question Details

Bngmoody, Home Buyer in Lawrenceville, GA

1st time home buyers with sub par credit.

Asked by Bngmoody, Lawrenceville, GA Mon Apr 1, 2013

My husband and I are trying to qualify for the Suntrust Physicians loan with 100% financing. My husband just graduated and starts his residency in July. His credit score is 714 and mine is 704. Our combined income will be about 90k/year when he starts in July. We have three kids and a dog, and apartment living is not really am option for us, but we're afraid we may not have options due to our credit score. My credit has a 270 day dilenquency on my student loan 3 years ago. Out happened when I was out of the country and believed the loan was in diferment. long story short, I thought the issue was resolved until my credit was pulled. I contacted Sallie Mae and they said tiger could not change my credit history, bit the could provide a letter that I had been in good standing with my student loan before and after this incident. I don't know if that will make a difference to any creditor or not. are there options for us?

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We help people who have low credit scores and match you with a lender that has a loan product for you. 580 credit score needed for FHA and 620 for conventional with 3% down.
2 votes Thank Flag Link Tue Oct 22, 2013
When clients of ours experience this issue we refer them to a company who works with the DOE to refinance your student loan. Now what this does is create an entire new loan and the old one can be deleted from your credit history. Or you may want to try disputing the account with the credit bureaus providing them with a copy of the letter they sent you. Best of Luck. Christina Solorzano of Everlasting Credit Repair.
1 vote Thank Flag Link Thu Apr 4, 2013
The Doctor Loan programs are very forgiving in this respect I had worked for SunTrust in the past and they are really interested in your assets more than your history. They are using the mortgage to wrap up all of your banking services.

Our Bank offers similar Doctor Loans that do not require you to transfer accounts into our institution or assets into or investment division to be managed. I am available 7 days a week to meet your needs feel free to call me anytime.

Marc D’Angelo
Mortgage Banker
678.442.3405 Office
678.985.6834 Fax
404.925.8291 Cell
apply online:

50 Chastain Center Blvd. | Kennesaw, GA 30144
NMLS# 75615 | 658834
0 votes Thank Flag Link Tue Jan 14, 2014
Hi Bngmoody,

You may want to contact Rae Drake with Fifth third Bank. I have referred her for the past 10 years to my buyers and she has always performed professionally. She puts her clients interest first and is extremely knowledgable of the industry and the banks programs. They have a great Doctor Program- She is even married to a Physician.
You can reach her at 352-514-1829 or

Good Luck,
Bernedette- Realtor in Vero Beach, Florida
0 votes Thank Flag Link Sun Jan 12, 2014

As a doctor loan specialist with SunTrust, I’d love to talk with you about your options. Currently, our program for 100% does require a credit score of 720 – and you’re very close! We do have options at 95% loan-to-value with a credit score over 700. It’s important for us to note that each situation is different, but we do also have the ability to seek exceptions within our program for loan amounts (typically, the limit for residents/interns/fellows is $417,000). My team does more Physician Loans than any other team at SunTrust – we know the product and your options backwards and forwards. Please call us! I would encourage you to visit my website at to see product guidelines, client testimonials, and eligible locations. My contact information is available and my goal is to be available to you 24/7! Hope to hear from you soon!

Joshua Feldman
2012 Platinum Performance Excellence Award Winner
VP, Senior Mortgage Loan Officer |NMLSR# 659173
0 votes Thank Flag Link Wed Oct 23, 2013
Best advice is to contact the Banker below so a rapid rescore can be executed if needed. My last client got 100% loan with a 700 score - so you should be fine regardless. That loan just closed in Sept. 13.

If you are an MD, Resident or Established Physician - the following bank rep will provide you with 0% (zero) down and No MI with Preferred Client rate and standard costs.
The Medical Center Director we spoke to provided the following as a contact:

Fifth Third - Asst. Vice President/Sr Mortgage Officer / Tom R. Callahan /
Mr. Callahan has apparently been recognized nationally as a ranking leader within the mortgage industry and has assisted hundreds of Physicians within The Agape Med Center and UAB Health System.

Best wishes to you! Tyler
0 votes Thank Flag Link Sun Oct 13, 2013
Credit rating is not the only considering factor. While some lenders are quite strict with their requirements, there are others who are not. It is best to consult with a lender or lenders so you will know your options.

Dana Lindberg
CFS Mortgage -
0 votes Thank Flag Link Wed Oct 9, 2013
If you are a Doctor you may be interested to know: Do Mortgages for Doctors with 0% Down, No MI, Low Rates still exist?

Our office recommends a Doctor Loan that offers flexible terms such as No MI, 0% down and requires a credit of 680 by utilizing Bank portfolio capabilities. Our medical focus group has had numerous members of staff contact this free referral service at:

They were amazed at the programs available to Medical Doctors/Physicians.
The alliance was created by Medical professionals to simply direct fellow professionals in the right direction for obtaining the best mortgage deal available today. I like it - people helping people, is what it is all about!
Rates have been reported recently as low as 3.500% on a 5 year fixed/arm, to 3.750% on a 7 year fixed/arm term. Other terms such as a 10 year fixed/arm and 30 year and 15 year fixed terms are available.
The alliance has Loan Officers who have been professional with vast experience.
For those looking to purchase a home we strongly recommend that you email:

EMAIL: or call at 800-385-0766 – they are very busy so email always seems to work best.

A mortgage banker should contact you in a timely manner to discuss options.

Good luck with searching for your new home! J. Jacobs, PhD
0 votes Thank Flag Link Tue Oct 8, 2013
I can get that done for you

Allow me to briefly introduce myself, I am Richard- El Bey. I have been in the lending business since 2000, and I am partnered with several banks and private investors that can help you put more of your clients into homes, and I work FAST!

What it is we can offer you and your clients

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Use assets as income
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F.H.A. Streamline on investment property 620 FICO
1-2 unit {no income, no appraisal}
3-4 unit {income, no appraisal}
H.A.R.P. loans with unlimited LTV/CLTV primary and second home
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Borrowers with NO CREDIT SCORE
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Finance up to 20 properties with us
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As well as private lenders looking for hard to do borrowers
We can get your dead loans DONE and keep your income growing.

Richard- El Bey
Avarice Investments
Wealth advisor
(706) 399-7813
(678) 752-8062
0 votes Thank Flag Link Thu Jun 20, 2013
To know for sure, consult with a mortgage lender.
They would be able to tell you if you qualify or not and what you may have to do in
order to qualify at a later date.

Laquita Baez
Better Homes and Gardens Real Estate Metrobrokers
0 votes Thank Flag Link Wed Apr 3, 2013

I'd be happy to take a look at your situation and see what I could offer. My bank also offers a Physicians Loan with less stringent guidleines than Suntrust. Based on what you have stated here, I don't see any reason why you wouldn't be able to get approved. A letter of explanation for the Student loan derog should be all that is required.


Chris Irvin
Mortgage Banker
Brand Mortgage
NMLS# 75615/465546
0 votes Thank Flag Link Tue Apr 2, 2013

Some of the larger lenders often have rather rigid rules because many of them took huge hits during the mortgage meltdown. The good news is that other lender offers the Doctor's loan, often with more flexible loan requirements.

Your post reads that your husband starts his residency in July. Are you working now? If so, you might want to consider some of the existing down payment assistance programs based only on your income. You certainly have the credit scores and you can buy properties priced up to $250K with down payment assistance.

Would welcome the opportunity to speak with you briefly when time permits.

All my best for a successful home search.

Solomon Greene
Georgia Real Estate Brokers Associate, REALTOR®, Certified Affordable Housing Counselor
Keller Williams Realty Atlanta Partners
(678) 775-2677
0 votes Thank Flag Link Mon Apr 1, 2013
Yes, it does make a difference. Your credit score is good for FHA Financing.
If you are applying for a FHA Loan - your student loan must be current. All students"Government Loans" must be current in order to be approved for an FHA loan or Conventional financing. Have an explanation letter added to you file when you do make application for a loan.. Also you can add explanation to your credit profile. Underwriters like to know what exactly happened during period of deliquency. The Main thing is that the loan is now current and the problem has been corrected. The letter from Sallie Mae is also good because it would show that the loan is currently in good standing for the last twelve-twenty four months or so.
0 votes Thank Flag Link Mon Apr 1, 2013
Give me a call at 678-641-7925 or email me. I can get you in contact with a great lender who specializes in the Doctor Loan program who can help you get pre-qualified or at least have a conversation with you on what needs to happen to get you where you need to be. It's a completely different ball game with the Dr. Loan, so you need someone who knows exactly what they are doing. My guy is the #1 lender for this type of loan. After we get you pre-qualified, we can get you ready tp purchase your first home! Hope you speak to you soon!

Sarah Moore
The Live in Atlanta GA Team
Keller Williams Atlanta Midtown
0 votes Thank Flag Link Mon Apr 1, 2013
SInce you are talking about a very specific loan program, you would have to consult with a SunTrust Loan Officer regarding their requirements for that program.

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes Thank Flag Link Mon Apr 1, 2013
Those scores are pretty good, but that is a serious derogatory credit item.

Physician loans are portfolio programs, so the lender is free to implement their own underwriting guidelines, but this also means they can probably make a judgment call on things.

If the rest of your credit otherwise is good and you can provide a good explanation then hopefully this will be OK.

If not then you may have to go FHA. It's 3.5% down and you'll probably have to wait until he starts working. But it's an option nonetheless.

If it doesnt work then try another lender who offers a physicians loan before you give up and go FHA.

Best of luck!
0 votes Thank Flag Link Mon Apr 1, 2013
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