Did you know there are loan programs designed specifically with doctors in mind? The Sharpe Mortgage Team is excited to bring you physician loans,  which are special home loan options for doctors that can help them buy a house before they would otherwise be able to. If you are a medical doctor with an MD, DO, DDS, DVMM or DMD purchasing a primary residence you might qualify. Some of the benefits of physician loans include:

• Fixed and variable interest rates. The Sharpe Mortgage Team will help you select the term that is best for you and your financial goals.
• Up to 0% down payment. With an employment letter and contract from your employer, recent medical school graduates can obtain a mortgage with a little to no down payment.
• No minimum loan amount and a maximum loan amount of $2M. Some restrictions apply. Contact The Sharpe Mortgage Team for more information on this.
• No mortgage insurance. In most cases, down payments below 20% would cause a borrower to pay PMI on their mortgage. With a physician loan, there is no mortgage insurance needed. 
• Maximum 50% DTI. Many recent graduates are unable to achieve low DTI due to student loan debt. Physician loans take this into consideration with more relaxed restrictions.

Physician loans can be a great choice for new doctors looking to buy a home. If you think you might qualify or are interested in more information, contact The Sharpe Mortgage Team. We would love to discuss your loan options and plan for your financial future.