Are physician mortgage loans available in NY? What is the 'catch'? ?

Asked by Xdreem18, 10306 Tue Nov 16, 2010

My husband is a 3rd year fellow finishing in June. He has a job lined up where he will be making $200K annually starting at the beginning of his contract which starts this summer. We are looking to buy a home before he starts, but it does not seem hopeful considering that he has a poor debt-to-income ratio. Credit score is good.

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5
Christopher Miceli’s answer
Christopher…, Mortgage Broker Or Lender, Garden City, NY
Wed May 2, 2012
I am a Loan Officer with PNC Mortgage.There are few loan programs that allow high Debt to income ratios. I am not sure who is offering Physician loans at the moment. If you want to call me I can discuss the different programs that I offer.
Chris Miceli
Phone: 646-623-2492
Email: Christopher.Miceli@PNCMortgage.com
NMLS#22399
0 votes
Joseph Runfo…, Agent, Staten Island, NY
Tue Nov 16, 2010
Web Reference:  http://www.clovelake.com
1 vote
, ,
Fri Mar 20, 2015
Yes Doctor/ Physician loans are available in NY! Hi, 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 (Medical Doctors), DOs (Doctors of Osteopathy) along with DMDs and DDS (including Dental Surgeons, Orthodontists and General Dentists). We provide financing of 95% up to $850,000, 89% to $1 million (**exceptions possible**) AND 89% to $1 million for 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, D.C., West Virginia. **Additional States are possible on an exception basis.**

If I can be of any assistance please feel free to contact me for details as we are NOT allowed to share guidelines of the program in online forums.


Matt Albert
Physician Loan Specialist
Mortgage Loan Officer
NMLSR # 658999

Citizens Charter One Home Loans
Phone - (336) 471-1825
Fax -(844) 574-2618
matthew.albert@charteronebank.com
0 votes
Annette Levi…, , New York, NY
Wed Nov 17, 2010
It is too early to start looking. Most of the programs have run out of money and I don't know what funding there will be next year.
0 votes
Kevin Hughes, Agent, Staten Island, NY
Tue Nov 16, 2010
Yes those Websites that Joe are talking about are good. I know that Bank of America did have such a loan program so I would give them a call also.
0 votes
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