Conforming Conventional Doctor Loan Program – This program is limited to doctors and dentists only, with MD and DDS designations, respectively. It allows for up to 90 days between the note date and employment start date. Deferred student loans that are in a period of deferment of at least 12-months may be excluded from the DTI calculation. It includes high-balance loan amounts. Max LTV is 95%.
Non-conforming Jumbo Doctor Loan Program – This program, offered by Redwood, is limited to doctors and dentists only, with MD and DDS designations, respectively. It allows for up to 60 days between the note date and employment start date. Deferred student loans that are in a period of deferment of at least 12-months may be excluded from the DTI calculation. It includes loan amounts up to $1,500,000. Max LTV is 90% with no MI.
These programs are not widely available and could be a great fit for your borrowers who are starting a new job and buying a new home. Guild has these as a result of the special partnerships we have with our investors. We hope you take advantage of them today, especially the Redwood Jumbo Doctor program which is only available for a limited time with locks on or before June 30, 2017. There is a possibility that it can be extended if there is enough traction.
Contact Ryan Lendrum to learn more and to see if your position qualifies.
Ryan Lendrum and The Kulbe Team | NMLS #1458088
(720) 990-3687
rlendrum@guildmortgage.net
