Yours is a noble calling but… So. Much. Work.

You spent years making your way through undergraduate and then medical, dental, pharmacy, chiropractic or veterinary school. You completed your residency – maybe even a fellowship or board certification.

You’ve launched your career and are ready to buy a home. But all that time in school and training has left you with limited savings and (possibly) a good bit of student loan debt. This is where loans for doctors can help.

Delayed gratification… rewarded

I’ve got some good news for you. There are loans for doctors — programs designed just for you. These loans exist to meet the unique needs of medical professionals.

Special Features

Guaranteed rate offers several loans for doctors. Each has specific guidelines. The benefits of these programs fall into a few general categories:

• No down payment or low down payment options
  Loans for doctors allow a low down payment or even no down payment. Down payment options of as little as 0% are allowed on loans from $100,000 to $1 million or as little as 5% down options on loans up to $1.5 million.
• House hackers welcome!
  Our physician’s programs include options to purchase a 2-unit property with no down payment option up to a $1 million loan or 5% down payment option up to a $1.5 million loan. With rent from another unit, you can offset some of your housing expense and make your home into an investment too.
• No mortgage insurance
  Our loans for doctors do not require mortgage insurance – even when putting less than 20% down.
• Student loan flexibility
  A universal feature of the loans for doctors we offer is that the future payments on student loan debt that is deferred for at least a year after closing can be disregarded when qualifying for your loan. This is especially helpful for medical residents.
• Buy before starting a new job
  Our doctors’ loans allow you to use a signed contract to qualify for your loan. This feature will allow you to close on your home purchase up to 90 days before you begin a new job.

Who qualifies?

The requirements to qualify vary from one program to another. In general, you must either be a medical resident, fellow, medical teaching professor or practicing physician, chiropractor, pharmacist, dentist or veterinarian.

We offer loans for doctors practicing all of the following:

• Medical Resident
• Medical Fellow
• Medical Doctor (MD)
• Doctor of Dental Surgery (DDS)
• Doctor of Dental Medicine (DMD)
• Doctor of Optometry (OD)
• Doctor of Ophthalmology (MD)
• Doctor of Podiatric Medicine (DPM)
• Doctor of Osteopathy (DO)
• Pharmacist (RPH)
• Chiropractor (DC)
• Doctor of Veterinary Medicine (DVM)
• Doctor of Surgery (DCH)
• Doctor of Psychiatric Medicine (DPM)
  

Are loans for doctors right for you?

Although the benefits of doctors’ loans are many, it’s important to compare them to any other loan options for which you qualify. Weighing the benefits and features of a variety of loan programs is the best way to make sure you buy your home with the loan that best fits your budget, goals and plans.

To learn more about the doctors’ loan programs we offer and determine if they are right for you, please call or text 503-799-3711, or email juleef@rate.com today!

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information.

All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication.

While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.

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