A New Financing Program Just For Doctors! USF, Tampa General, Memorial Hospital Residency Doctors!
Wells Fargo has a new Nonconforming Doctor Program which provides a mortgage for the purchase of a primary residence by qualified physicians who have completed their medical residency within the most recent 36 months. A copy of the medical license is required.
What’s the criteria to qualify for the Doctor Loan?
• Minimum Loan Score = 720
• Maximum LTV/CLTV = 89.99%
• Maximum debt ratios = 33/38%
• Mortgage Insurance is not required
• Maximum loan amount is $850,000
• Valid on single family homes and condos
The doctor must have 5% down from personal funds, the other 5% down payment may be a gift, with a 5% residual that can be from a retirement account such as a 401(k).
To qualify for this program, customers are required to meet with a Wells Fargo Banker to discuss their financial goals and complete a brief financial assessment to determine other Wells Fargo products and services that will benefit them.
For more information and to find out how to apply for this special offer, contact me today.
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Great information Rae. I help physicians finance their business needs. I wonder how I could offer a program such as this? More for me to think about.