Doctor Mortgage

Summary	Portfolio product with no minimum down payment and no PMI requirement designed to meet the unique financial needs of physicians, dentists, and other eligible medical professionals. Financing provided through this program is only available for properties located in the state of Michigan or Florida.
Available Product Type	SOFR 7/6 ARM, SOFR 10/6 ARM
LTV & Loan Amount	Primary Residence - 100% to $1.25M, 95% to $1.5M, 90% to $1.75M
Prepayment Penalty	None
Loan Assumption	None
Eligible Properties	1-unit dwellings, attached and detached condominiums, PUDs
Escrow	An escrow account must be established for property taxes, and flood insurance, if required
Underwriting	No Private Mortgage Insurance Proof of Medical Degree (MD, DO, DDS, DC, DMD, DVM) Occupancy – Primary Residence Minimum Credit Score - 700 DTI – Max 43% (UW/Mgmt exceptions up to 50% with minimum 3 documented compensating factors) Student Loans – If in deferment, no qualifying payment required Signed contract or offer (No required timeframe for start date)
Servicing	Retained