Cherry Creek Mortgage Co., Inc. NMLS #3001. Cherry Creek Mortgage is not endorsed by, nor acting on behalf of or at the direction of the U.S. Department of Housing and Urban Development, Federal Housing Administration, the Veterans Administration, the U.S. Department of Agriculture or the Federal Government. This material is informational only and is not an offer to lend or recommend available products. This is not an advertisement to extend credit as defined by Regulation Z, nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting guidelines and approval based upon the credit, assets, value of subject property and borrower’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice.
Our MEDICAL PROFESSIONAL MORTGAGE PROGRAM is a
for new doctors
If you are a medical professional who is looking for mortgage financing, please contact me to learn more about this unique program.
Our Medical Professional Program accommodates these common issues by offering the following guidelines and benefits:
Student loans that are deferred for at least 12 months are excluded from debt ratio calculations.
Up to 95% of the purchase price of a home (or appraised value, if lower) may be borrowed, and loan amounts up to $850,000 are allowed.
Program is available for:
Actively-practicing medical doctors, dentist or dental surgeons, medical teaching professors.
Newly-licensed medical residents who are currently employed or are in residency.
Newly licensed medical, dentists or
dental students who are about to begin their new employment/residency within 90 days of closing.
The average doctor graduates from medical school with a considerable amount of student loan debt. This high credit burden combined with significant changes in income from residency to practice can make it difficult to acquire financing for a new home.Read More