Doctor’s Home Loans

Bank of America’s Doctor Loan Program – Became effective August 2010. This program helps doctors get into a home based on current income and future income with as little as 5% down.

Eligibility requirements:

  • Existing medical doctors who are actively practicing
  • Newly licensed medical residents who are currently employed or in residency
  • Newly licensed medical students who are about to begin their new employment/residency within 60 days of closing
  • Minimum credit score of 720
  • Reserves requirements 4-6 months of the total mortgage payment – principal, interest, taxes & insurance
  • Down payment must be from your own funds. You can use a gift of money for closing costs and pre-paids
  • 95% loan to value
  • Loan limit up to $850,000

We have an in-house Bank of America loan specialist in our office. If you would like to setup an appointment – please let me know.

Telephone: 925-415-3046

email:linda@lindaurbick.com

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