The Doctor Loan Program Explained

In a mortgage environment where 100% financing is next-to-impossible to obtain, there is one bright spot.  SunTrust Mortgage offers 100% financing for doctors-  AND the program has NO monthly mortgage insurance (no PMI)!!   Borrowers must be an MD, with Residents, Fellows, and practicing doctors allowed.  The program can finance 100% up to $650,000 in loan amount – and 95% financing above that.  The interest rate is slightly higher than a conventional fixed-rate loan, but the absence of PMI combined with no downpayment makes it a no-brainer.  The program is especially helpful for younger doctors, such as Residents and Fellows, whose salary is still low and who have not had the opportunity to save for a downpayment.   Note: the program is for MDs only –  dentists, psychologists, chiropractors, etc. unfortunately do not qualify.   For more information contact my lender partner, Howard Stanton, at 919-918-2468 or at