Mortgage Loans for Doctors

With Millennial Home Loans quick online loan application, determining if you qualify for a Doctor Loan and for how much, has never been easier.

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M.D. Loan Program Benefits

As little as 5% down
5/5 adjustable rate mortgage up to $2,000,000
No PMI required, saving you thousands over the life of the loan
Available for Doctors, Dentists, Pharmacists, and Veterinarians
Interest rate remains the same regardless of the loan amount
Student loans that are in deferment more than a year from settlement date, are excluded from qualifying ratios

All borrowers on the loan must have a minimum:
- 720 middle credit score with 5% down; or
- 700 middle credit score with 10% down
Maximum financed loan amount is $2,000,000
No foreclosure, bankruptcy, or short-sales permitted on credit report
No judgements, repossessions, or charge-offs within the last five years
Borrower can’t own any other property at the time of loan closing
Borrower must have a minimum 5% down sourced through own funds

The M.D. Loan is an adjustable rate mortgage, that is fixed for the first 5 years, and adjusts one time every 5 years for the life of the loan.

The parameters of the first mortgage are as follows:

Interest rate is fixed for a period of 5 years
After the initial fixed rate period, interest rates change, either up or down, based on:
- A first-time adjustment of no more or less than 2% of the start rate
- No more or less than 2% for each subsequent adjustment periods
A lifetime cap not to exceed 6% over the initial interest rate
Interest rate, after the initial fixed period, is based on the 5 Year T-Bill/Treasury rate plus a margin of 2.50%
Loan can be paid off at any time without penalty