Mortgage Business

New Mortgage Program – Non Conforming Doctor Program

Introducing Prosperity Mortgage’s New…….
Non Conforming Doctor Program

Approximately 16,000 potential customers graduate from medical school every year (according to the Association of American Medical Colleges) and many of them may be looking to purchase a new home. Prosperity Mortgage is offering a new program – the Nonconforming Doctor Program – to help build long-term relationships with these customers. Available on Monday, Dec. 5, 2011, this program offers financing opportunities for medical doctors within the first 36 months of them completing their residency requirements.

Doctor

Details of the program:

  • Maximum Loan Amount: $850,000
  • Minimum Down Payment: 10.01%
  • Occupancy:  Primary Home Only
  • Minimum Credit Score: 720
  • Rate Discount available: YES w/ a Wells Fargo checking account
  • Mortgage Insurance: NOT REQUIRED!
  • Post Closing Reserves: 5% can be both retirement and non retirement funds
  • Available on 30 year fixed rates and 5/1, 7/1 and 10/1 ARM’s

The borrower needs to be a medical doctor (not a dentist nor a veterinarian).  Please call or email me with questions about this new program.

 

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