Hey everyone! 🌟
I’m excited to share some great news for medical professionals looking to buy a home. The MedPro Advantage program is designed to make homeownership more affordable, even if you have student loan debt. With this program, doctors and other medical pros can get their dream home without the usual high costs.
Current Incentives:
For a $400,000 home with a 30-year loan at a fixed rate of 6.625% (6.714% APR) and a 5% down payment, the loan amount is $380,000, with 360 monthly payments of $2,434.00. Payment does not include mortgage insurance, taxes, and homeowners insurance, which will increase the payment amount.
Program Highlights
With MedPro Advantage, eligible professionals can purchase a home with as little as 5%* down. Unlike other loans that offer low down payments but come with mortgage insurance costs, MedPro Advantage doesn’t require mortgage insurance. This means thousands of dollars in savings for you! Here’s what you need to know:
- 95% Loan-to-Value (LTV)
- No Mortgage Insurance
- Loan Amounts Up to $2 Million
- Competitive Rates
- Student Loan Exclusion
Student Loan Exclusion
If your student loan is deferred for more than 12 months, the payment can be excluded from your debt-to-income (DTI) ratio. This can help you qualify for larger loans and lower rates. If your repayment starts within 12 months of your application date, we’ll include 0.5% of the loan balance in the DTI calculation or use the current repayment terms provided by your financial institution.
Eligible Medical Professionals
The best part? Only one occupying borrower needs to be actively practicing in one of these professions:
- Licensed Residents/Interns/Fellows
- Medical Doctors (MD)
- Doctors of Osteopathy (DO)
- Doctors of Podiatric Medicine (DPM)
- Doctors of Dental Medicine (DMD/DDS)
- Doctors of Veterinary Medicine (DVM)
- Doctors of Optometry/Ophthalmology
- Doctors of Psychology
- Physician Assistants
Eligible Property Types
The property must be a primary residence and a 1-unit property. This includes single-family homes with an ADU, PUDs, or studio condos of at least 500 sqft.
If you’re ready to take advantage of this fantastic program, reach out to us today!
What's Next?
Schedule a call at https://byjoandco.com/call or email me at [email protected]
Thank You!
I hope you have found this blog post super helpful. If there is anything else we can do for you, including helping you sell (or buy) a home, I would be honored to assist. I hope you have a great day/evening. Cheers, E + J.
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We are so happy you found our little corner of the interwebs. We look forward to y'all reaching out to us. We love to answer questions and welcome them. Recently we created some local maps, and you can download those by clicking the image/link above. Below, you will find an index of some very helpful information to assist you in learning more about the Houston suburbs. If you are relocating to our neck of the woods, we hope you reach out to us, because we would love to help you by being your local realtor and friend. Thoughtfully written for you. Hugs, Jo.
We are Waiting for You
If you are looking to relocate to the Houston Area, we would love to meet you, and hear your story. Below you will find all of my contact information, as well as some homes for sale in the area. We truly look forward to hearing from you! P.S. Don't forget to check out our YouTube Channel!
If you are overwhelmed…
Now if you are feeling overwhelmed on where you should plant your roots, I would love to talk to you. You can schedule a call with me by clicking this link: http://byjoandco.com/call or just send us an email: [email protected]. There are some amazing communities all over the Houston suburbs. In this post, https://search.byjoandco.com/blog/best-neighborhoods-in-houston/, I deep dive into all the different suburbs/neighborhoods that you might want to consider, and why. There are many resources here, so please reach out if you are curious about what to look at next! Thank you for trusting us.
What next?!
• Navigate our Blog: https://byjoandco.com/categories-to-help-you-navigate-the-blog/
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