Products

Home Loan for Doctors Program

Purchase a new home with a loan that requires low down payment, no money of your own into transaction required, competitive rates. Flexible qualifications with future income considered!

• 30,20,15,10 Year Fixed
• One unit Purchase & R/T
• 95% LTV
• LP Accept determines DTI
• 720 Min credit score
• No Minimum Borrower Contribution (100% of needed funds can be gifted)
• Student loans deferred 12 months
• Future employment/raises may be used with proper documentation
• Reserves determined by LP

Eligible Borrowers Include: Medical Resident,Medical Doctor (MD), Doctor of Dental Science (DDS), Doctor of Dental Medicine (DMD), Dental Surgeons specializing in oral and maxillofacial surgery, Doctor of Optometry (OD), Doctor of Ophthalmology (MD), Doctor of Podiatric Medicine (DPM), Doctor of Osteopathy (DO)

FHA 203(K) Loan

• 203(K) standard and limited program available.
• Available on purchase and refinance transactions.
• Financing up to 96.5% LTV, 100% CLTV.
• $100 down payment loan available for HUD homes.
• Primary residence only.
• Contingency reserve included in financing.
• Mortgage payment reserve allowed.
• Lending partner paid at time of closing.

Veteran Improvement Program (VIP)

• Allows a veteran to purchase or refinance a home  and finance the cost of improvements and/or repairs.
• 100% financing available.
• Minimum amount of repairs/improvements $5,000.
• Maximum amount of repairs/improvements $50,000.
• Available for 1-4 unit properties.
• Underwritten by DU or LP.

HomeReady

Are financial challenges holding you back from owning a home? This could be the loan you’ve been looking for. HomeReady® by Fannie Mae offers expanded eligibility for creditworthy borrowers, making it easier to achieve those  home ownership dreams.

• Low down payment options
• Mortgage insurance lower than most conventional loans*
• Gifts, grants, and Community Seconds®** can be used as a source of funds for  down payment and closing costs (1-unit properties only)
• Non-occupying co-borrowers may be able to assist with the home purchase  Additional sources of income could help qualify a borrower (Example being  rental payments from a basement apartment)

HomePossible

Home ownership doesn’t have to feel out of your reach, with Home Possible® mortgages by Freddie Mac you  can achieve your dream. They offer creditworthy customers opportunities to own a home including

• Reduced mortgage insurance requirements*  Low down payment options
• Flexible sources of funds allowed for down payment and closing  costs (including gifts and grants)
• No minimum reserves or borrower contribution on 1-unit properties  Income limits based on 100% of area median income, or unlimited in  under served areas

Homestyle Renovation

• Purchase and Limited Cash Out Refi
• No minimum rehab amount
• Max 50% of “as completed” appraised  value maximum rehab amount
• High Balance Limits (where available)
• 4 month renovation term
• LTV’s
  -Owner Occupied – 1-4 units 95%
  -2nd Home 1 unit 90%
  -Investment 1 unit, 85% purchase,
• 75% R/T refi
• 620 Minimum Credit Score – DU Eligible  45% DTI 1 unit
• 43% DTI 2-4 units