Guild Mortgage Announces New “MD and DDS” Special Financing Program

homes1113-3Mark James
Sales Manager
NMLS 247356
Guild Mortgage Company
(808) 744-6420

Medical doctors and dentists can now take advantage of a new Guild Mortgage loan program that may make it possible to qualify for the purchase of a home despite a high debt to income ratio due to student loans. The new program also applies to refinancing.

“We understand that many doctors and dentists start their careers with significant student debt still attached to them,” said Guild Mortgage Sales Manager Mark James. “This program allows more flexibility if the student debt is in deferment for at least another 12 months and will not be part of the total debt to income ratio. This is a great alternative for borrowers who have recently completed a medical residency program or fellowship and secured a position in their field.”
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The new Conventional Loan program is available to qualifying borrowers for the purchase of a home as well as a cash out refinance. A minimum credit score of 720 is required. Single family residences and condominiums, excluding duplexes, are eligible for the new financing provided the property is occupied by the owner as his or her principal residence. Maximum allowable loan to value is 90 percent up to $721,000 on Oahu based on the appraised value of the home. Loans up to $625,500 are available at 97% loan to value with 3% down.

“We realize this is a somewhat narrowly focused market, so we are also making some of the benefits of our new First Responders program available to medical and dental professionals who meet the criteria. This program provides for up to $2,500 toward closing costs on any loan program selected,” James added.
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For more information, please contact any Guild Mortgage Company branch: Kailua (808) 263-4622, Waikele (808) 369-7153, Hilo (808) 933-1095, Honolulu (808) 744-6420 or go to www. guildmortgage.com.

This offer is not a commitment to lend. All loans are subject to underwriter approval and applicable program guidelines. Payment subject to maximum allowable lender credit and minimum contribution requirements under applicable loan requirements. Some loans require a minimum cash investment by the borrower, which may limit the amount of any lender credits or payments by Guild under the offer. Please consult your tax advisor regarding any tax implications. All loans must close by December 31, 2017 in order to remain eligible for this offer (case by case exceptions available). Guild Mortgage Company is not affiliated with any real estate company.

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