One benefit of becoming a doctor is being able to take advantage of unique home financing opportunities. EHL's Doctor Loan is a great tool to help medical professionals who are looking to achieve the dream of homeownership.
Becoming a caregiver is not only commendable but it’s often coupled with a significant student loan burden. If you’re a resident, a recent medical school graduate, or at any stage of your career, looking to lose the lease and become a homeowner, the Doctor Loan was specially designed for professionals like you.
The Doctor Loan helps those eligible secure a mortgage with fewer restrictions than a conventional mortgage. This type of loan is much more accommodating to medical professionals and their unique circumstances. So, those years of extra schooling and training have paid off and your dream of homeownership is within reach.
The Doctor Loan can help those eligible locks in lower interest rates, avoid a huge down payment and private mortgage insurance (PMI) which is standard for traditional loans. Depending on the final loan amount, eliminating the PMI can save doctors hundreds of dollars from monthly mortgage payments while pursuing medical careers.
Loan amounts up to $2,000,000
Low and no down payment options (Max LTV up to 100%)
Adjustable-Rate Mortgage (ARM) options available (3/5/7/10)
Interested party contributions allowed
Future employment contract eligibility
Available for Purchases and Rate & Term Refinances
Medical residents
Physician's Assistants
New and established doctors
Doctor of Medicine (MD)
Doctor of dental surgery (DDS)
Doctor of dental medicine or surgeon (DMD)
Doctor of optometry (OD)
Doctor of Ophthalmology (MD)
Doctor of osteopathic medicine (DO)
Doctor of podiatric medicine (DPM)
Single-Family Properties and Condos
Primary Residences Only
680 Minimum Credit Score
Available in NJ (some counties excluded), FL, NY (some counties excluded), NC
Eligibility requirements, exclusions, and other terms and conditions apply.
If you’re considering buying a home, especially as a new medical professional, speak with the experts at Emerald Home Loans to weigh all your options.
Click here to get a free mortgage pre-approval or to speak with one of our Loan Officers today.