Podiatrist Mortgage Loans: Financing at 0% to 10% Down



Key Takeaways:

  • Podiatrist mortgage loans come with low down payment options and no private mortgage insurance requirement.
  • A DPM mortgage has more flexible underwriting guidelines that acknowledge the reality of large student debt balances within the podiatry profession.
  • This special home loan program generally applies to purchasing and refinancing single-family primary residences, but some lenders allow multiple-unit properties with conditions.

A DPM mortgage, or podiatrist mortgage, is a special home financing program available through certain banks across the country. These programs are known for offering medical professionals a low down payment solution with access to high loan amounts. They also don’t require private mortgage insurance (PMI), which can result in huge savings on its own.

Read on to learn about the top podiatrist mortgage loans available today.

What’s a DPM mortgage and how does it benefit podiatrists?

A DPM mortgage can provide an easier path to homeownership for podiatrists who are at the beginning to middle stages of their careers. Most podiatrist mortgage loans offer:

  • 0% to 10% down payment options with no PMI.
  • Loan amounts that exceed the conventional mortgage limit (e.g. $647,200 for most areas of the countries).
  • Generous treatment of student loan debt when calculating your debt-to-income ratio, or DTI.
  • Flexible income history requirements, including the ability to close 60 to 90 days before starting your residency or new position with an acceptable employment contract.

To be clear, this type of program falls within a broader product category called a physician mortgage. However, many programs have expanded to include a variety of medical and specialty professions that typically take on a lot of student debt in exchange for high lifetime earning potential.

The idea is to offer you a great home financing solution in hopes that it’ll build a lasting relationship for your other financial needs in the future.

Get Quotes for Your Doctor Mortgage

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