Home Buying in Reno>Question Details

Tshowole, Home Buyer in Milpitas, CA

What are credit limits for doctors loan?

Asked by Tshowole, Milpitas, CA Tue Feb 25, 2014

Are there any doctor loans available with
1) credit score 720 but medical school loan debt not including in debt total or
2) credit score of 660

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My name is Matt Albert (NMLS# 658999) and I am a Doctor/Physician Loan Specialist with Citizens/Charter One Home Loans. I have been specifically working with physicians for over 12 years. We cover licensed medical physicians, residents, interns and fellows, which include MDs, DOs, along with DMDs and DDS. We provide financing of 95% up to $850,000, 89% to $1 million AND 89% to $1 million for a one time close construction Doctor Loan, all with NO PMI! We offer our Doctor Program in the following states:

Connecticut, Delaware, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, North Carolina, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia, Vermont, Washington DC, West Virginia. *Additional States are possible on an exception basis, exceptions also possible in regards to loan amounts on a case by base basis*

Most lenders with a Doctor Loan program have a minimum credit score of 720 however some allow for a lower credit score with a down payment or with an exception. If I can be of any assistance please feel free to contact me regarding details of the program as we are NOT allowed to share guidelines of the program in online forums. You may do a search of my name and Doctor loan and easily find my contact information or see my profile. Good luck!
0 votes Thank Flag Link Wed Mar 18, 2015
There are so many different programs available to doctors. It would be worth it for you to look into 2-3 banks and see what they have to offer.

If you have not contacted Bank of America yet, they have a great program that is exclusively for doctors. They have been having a lot of success with it. We have a great BofA loan officer that I am sure would be more than happy to give you more details. Let me know if you would like me to message you her information.

All the best!


Diana Rosero
Prime Partners @ Keller Williams Realty
CalBre# 01806901
Direct: 818.859.9930
Fax: 818.301.7488
Diana@DianaRosero.com
http://www.PrimePartnersRealty.com
0 votes Thank Flag Link Mon Mar 24, 2014
This site has different physician loan specialists by state:
http://usphysicianhomeloans.com/

If you contact them, they can look at your unique situation to advise you.
0 votes Thank Flag Link Mon Mar 24, 2014
One of my lender, Evelyn Gonzalez at Bank of America stated the maximum loan amount for Dr. is 850k. No PMI 95%LTV. Feel free to contact her.
Office: 775.335.0258
Mobile: 775.345.5097
Fax: 866.518.3012
0 votes Thank Flag Link Thu Feb 27, 2014
B of A offers special doctor loans that other lenders don't have. Give SP Mason a call at 775-335-0248, he can tell you all about it.
0 votes Thank Flag Link Tue Feb 25, 2014
If are in a Medical Practice and building financial strength , it should not be problem to obtain a decent loan amount, but what you are buying could help you if it is priced under market and you actively retiring debt, etc. As Scott Hughes says below, a plan can be worked out, just go ahead and start the process of getting pre-qualified , then you will know where to start.
0 votes Thank Flag Link Tue Feb 25, 2014
There are many loan programs that can work with those credit scores. However, FHA loan programs are the only type that will not count your student loan debt if they are in deferment for at least 12 months from the closing date.
0 votes Thank Flag Link Tue Feb 25, 2014
Hello Dr.

We can go with the 660 credit score and depending if there is deferment or not we would look at the school loan debt.

Please contact me for further details so we can determine what we can do for you,

Scott Hughes
Senior Loan Officer
shughes@mtgcapital.com

Get my personal iPhone or Andriod App here: http://bit.ly/1dMpmF9

888-433-5560 Direct
888-433-5560 Fax
775-787-8965 Cell
0 votes Thank Flag Link Tue Feb 25, 2014
If you have a good banking relationship with a lender your score should not be an issue assuming you are earning in the $150K plus range and your debt to income ratio is ok.
0 votes Thank Flag Link Tue Feb 25, 2014
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