The Prescription for Your Perfect Home Loan
Exclusive Home Financing Designed for Qualified Medical Professionals
You spent years — and more than a little money — becoming a medical professional. Somewhere between student loans, residency, and a job offer that may not even start until after you’ve moved, the traditional mortgage process can feel like it was designed for someone else’s life. At Vellum Mortgage, we built our Medical Professionals Program for your life: the realities of training, deferred student debt, and a future income that’s very real, even if it hasn’t hit your bank account yet.
Up to 100% financing — and no mortgage insurance
The headline is simple: qualified borrowers can finance up to 100% of the purchase price, which means you may not need a down payment at all. With a 680 credit score, that 100% financing extends up to $1.5 million, and with a 720 score, all the way up to $2 million. Need something more modest? Loan amounts start at just $100,000. And because this program is designed specifically for medical professionals, there’s no mortgage insurance — so you’re not paying extra every month just to put less down.
Student loans don’t have to hold you back
If you’re a resident or in a medical clinical fellowship, we get that student loan balances can look intimidating on paper. That’s why student loan payments that are in deferment, in forbearance, or on an income-based repayment (IBR) plan may be excluded from your debt-to-income calculation. In other words, the debt that’s currently paused doesn’t have to stand between you and your first home.
Buy now, even if the job starts later
Relocating for a new position? You don’t have to wait until your first day on the job to close. With a fully executed employment contract or offer letter, you can qualify using that future income, as long as your start date is within 150 days of the note date (a few extra months of reserves apply). It’s homeownership on the timeline of a career that’s still ramping up.
Built-in flexibility where it counts
The program is just as practical in the details. You can choose fixed-rate or ARM options, use it for either a purchase or a rate-and-term refinance, and even apply gift funds toward your reserve requirements. On the credit side, you only need one active tradeline, and medical collections under $10,000 in aggregate won’t get in your way — because we know how billing in this industry actually works.
Who qualifies?
The program is open to a wide range of medical professionals, including:
- Medical Doctor (MD)
- Doctor of Osteopathy (DO)
- Doctor of Dental Science or Surgery (DDS)
- Doctor of Dental Medicine (DMD)
- Doctor of Ophthalmology (MD or DO)
- Doctor of Psychiatry (MD or DO)
- Doctor of Pharmacy (PharmD)
- Doctor of Veterinary Medicine (DVM or VMD)
- Doctor of Podiatric Medicine (DPM)
- Certified Registered Nurse Anesthetist (CRNA)
- Medical residents, fellows, or interns holding one of the degrees above
Let’s find out if it’s right for you
To discuss this program in more detail, contact a Vellum Mortgage professional here!
