ALLIANT Credit union

Available in the following states: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY

DOCTOR PROGRAM FEATURES:

TERMS:

  • No PMI

  • Closing available 90 days before employment starts

  • Minimum FICO score of 700 to qualify

  • Maximum debt to income ratio 45%

  • Medical Professionals may borrow 100% up to $1,000,000, 95% financing up to $1,250,000, and 90% financing up to $2,000,000

  • Most lenders require that you have completed training within the last 10 years, Alliant Credit Union has no such limit

  • Conforming & Non-Conforming

  • Fixed & Adjustable Rate

  • 30- & 15- Year Fixed, 5/6, 7/6, 10/6 ARMs


PROFESSIONS:

  • MD, DO, DDS, DMD, Resident, Fellows, DVM, DPM


STRENGTHS:

  • Student Loan Debt omitted in qualifying ratios if deferred at least 12 months

  • Ability to use income based repayment schedule if not deferred for 12 months

  • No limit on time elapsed since the completion of training

  • Financing available for single family, condos, and two family owner occupied residences

  • Warrantable and non-warrantable condos allowed

  • Available to US Citizens, Permanent Resident Aliens, Non Permanent Resident Aliens, and Foreign Nationals

  • For other professionals we have Our First Time Homebuyers program with up to 100% financing available with no PMI

Disclaimer:

Alliant Credit Union NMLS#: 197185.

Rates, terms, and conditions are subject to change. The 5/6, 7/6 and 10/6 ARMs offer a fixed rate for the initial period of the loan and adjust to a 6-month ARM after that period. The interest rate and monthly payment may adjust bi-annually based on the 30-day average Secured Overnight Funding Rate (SOFR), plus a margin of 2.75 percentage points with a 5% lifetime cap.

Rates can vary based on risk factors which include but are not limited to LTV, credit score, and debt to income ratio.

Mortgages available in all states except Maryland. Loan approval, interest rate, and downpayment required based on creditworthiness, amount financed, and ability to repay. Rates, terms, and conditions are subject to change, are subject to credit, and collateral approval.

Rates can vary based on risk factors which include but are not limited to LTV, credit score, and debt to income ratio.

By contacting you certify that you are a medical professional or the spouse of one.

Disclaimer: The postings on this site do not represent this banks positions, strategies or opinions.