Bank of America: Loan program for Doctors

Bank Of America Student Loans - Bank of America: Loan program for Doctors

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Before the housing crash, almost every major lender had their own loan agenda available for doctors. Those loans swiftly disappeared once lenders started tightening up on lending folder money, and just sticking with loans that met Fannie or Freddie guidelines. However, at least one lender has opened the doors to doctors again.
 
On August 9, 2010, Bank of America launched their new physician Loan Program. The agenda allows suited doctors to finance up to 95% of their conventional Non-Conforming mortgage loan. positive restrictions apply to applicants who are to begin their new employment/residency within 60 days of closing.

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Bank Of America Student Loans

A summary of the Loan agenda is as follows:

Maximum Loan to Value (Ltv) is 95% (90% if in a declining market) No Minimum Loan amount Lender Paid Mortgage assurance (Lpmi) is required for loans over 80% Ltv No Subordinate financing is allowed

In order to qualify, over 50% of your income must come from actively practicing in the following fields:

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