Fairway is now offering a Doctor Home Loan Program that can assist newly licensed medical residents or existing physicians, doctors, dentists or surgeons that have been practicing medicine for less than five years. In order to qualify for this loan, you will need to provide documentation of degree or expected graduation date or degree.

Doctor Highlights:

  • Primary residence – 1 unit
  • Purchase or refinance
  • 20, 25, 30 year, fixed-rate mortgage
  • Maximum 90% Loan-to-Value (LTV)* – no secondary financing allowed
  • Maximum loan amount $1,500,000
  • Minimum FICO score 720
  • Maximum Debt-to-Income (DTI)** 43%
  • Student loans that are deferred at least 12 months from closing do not have to be included in the DTI
  • 6 months reserves for subject property required