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The Edina Realty Mortgage Doctor Loan

The Edina Realty Mortgage Doctor Loan

The ERM Doctor Loan

If student loans are preventing you from buying the home you love, the all-new doctor loan program from Edina Realty Mortgage may be able to help!
 

Here are a few features of the program:

  • Loan amounts up to $650,000 with just 3% down
  • Loan amounts up to $850,000 with just 10% down
  • Loan amounts up to $2 million with 20% down
  • Deferred student loans excluded from the borrower’s debt-to-income (DTI) ratio if student loan payments are deferred at least 12 months after the home’s closing date
  • Gift funds may be allowed1
  • Available for purchase and rate/term refinance of primary residences

Contact Us to learn about eligible customers.

Edina Realty Mortgage is a responsible lender and cares about our clients’ long-term financial well being. Carefully consider each of your home financing options to determine the home loan that is right for you. A doctor loan may not be the best mortgage product for all borrowers. Please consult your mortgage consultant to discuss your financing options.

1 Three (3%) percent of the down payment must come from the borrower’s own resources. Remaining funds may come from a gift, FNMA eligible Community Second Program, or an approved gift/grant program.


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