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Home » Jumbo Loans Options »
M. D. Loans.
You Earned It!
The Low-Down Payment Mortgage for Doctors, Dentists, Pharmacists, and Veterinarians
M.D. Loan Program Benefits
- As little as 5% down
- 5/5 adjustable rate mortgage up to $2,000,000
- No PMI required, saving you thousands over the life of the loan
- Available for Doctors, Dentists, Pharmacists, and Veterinarians
- Interest rate remains the same regardless of the loan amount
- Student loans that are in deferment more than a year from settlement date, are excluded from qualifying ratios
M.D. Loan Qualification Requirements
- All borrowers on the loan must have a minimum:
- 720 middle credit score with 5% down; or
- 700 middle credit score with 10% down
- Maximum financed loan amount is $2,000,000
- No foreclosure, bankruptcy, or short-sales permitted on credit report
- No judgements, repossessions, or charge-offs within the last five years
- Borrower can’t own any other property at the time of loan closing
- Borrower must have a minimum 5% down sourced through own funds
M.D. Loan Qualification Requirements
The M.D. Loan is an adjustable rate mortgage, that is fixed for the first 5 years, and adjusts one time every 5 years for the life of the loan.
The parameters of the first mortgage are as follows:
The parameters of the first mortgage are as follows:
- Interest rate is fixed for a period of 5 years
- After the initial fixed rate period, interest rates change, either up or down, based on:
- A first-time adjustment of no more or less than 2% of the start rate
- No more or less than 2% for each subsequent adjustment periods
- A lifetime cap not to exceed 6% over the initial interest rate
- Interest rate, after the initial fixed period, is based on the 5 Year T-Bill/Treasury rate plus a margin of 2.50%
- Loan can be paid off at any time without penalty
