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More than a 'Doctor Loan,' Opes Advisors Intros New Home Financing for Professionals

September 29 2017

The United States is packed with professionals. We have more than 200,000 physicians practicing primary care, and we have more than 114,000 veterinarians to tend to our pets and livestock. There are more than 110,000 licensed architects currently practicing in the U.S., and if you need a lawyer, you won't have to look far, because the population of attorneys in the United States is north of 1.3 million.

The market opportunities provided by these professionals to the real estate industry is enormous because their income capabilities and asset potential makes them prime candidates for homeownership. All of these industries also are growing: there are 17,000 new medical school graduates each year and 3,000 new veterinarians. More than 6,000 new architects graduate each year, and more than 55,000 new lawyers passed the bar in the U.S. last year alone.

This gives both real estate agents and mortgage lenders a terrific opportunity to find ways to better serve professionals, because they do have unique needs. Doctors, for example, often have significant student loan debt that often will take them at least a decade to pay off. Doctors also go through gradual income acceleration and it is often challenging for them, when factoring in their monthly student debt, to be able to qualify for a home mortgage based on standard underwriting debt-to-income ratios.

Doctors also don't always have enough savings for a 20 percent down payment, and there's the conundrum. How does a doctor, who should be a very low long-term risk, and who earns a reliable income that is destined to grow significantly, buy the home he or she truly wants?

Specialized Home Loan for Professionals

Opes Advisors, a Division of Flagstar Bank and innovative mortgage lending and wealth management firm with offices throughout California, offers its own specialized home loan program for all kinds of professionals, not just doctors. Yes, it's available for physicians and dentists. What's special is that our program is also available for other types of professionals who work hard and make a difference in their communities - licensed accountants, attorneys, architects and veterinarians.

Plus, our Professional Home Loan has consideration for a wide range of specialties in the medical profession, including Medical Residents (with educational license), Medical Doctors (MD), Doctors of Dental Science (DS), Doctors of Dental Medicine or Surgeon (DMD), Doctors of Optometry (OD), Doctors of Ophthalmology (MD), Doctors of Osteopathy (DO), and Doctors of Pediatric Medicine (DPM).

And what makes this loan something real estate agents and brokers will really want to make their clients aware of is the enormous flexibility of these loans. For example, the Physician Home Loan offers:

  • Available for Purchase and Rate & Term Refinance on a Primary Residence
  • Both 5/1 and 7/1 ARMs options
  • No or low down payment (depending on loan amount)
  • Loan amounts up to $1,500,000
  • Additional Down payment funds can be gifted
  • Deferred Medical Student Debt may be excluded from DTI ratios

Our web page has full details and conditions:

For budding future doctors, that last loan feature is huge. Too often student debt prevents a professional client from buying a home. Not having to include the monthly student debt payment in one's ratios for loan qualification can often mean the difference between a yes and a no, or buying a dream home versus settling on a home.

Now granted, only medically licensed borrowers are eligible for the student debt exclusion, and the deferment must be 12 months beyond the closing date of the transaction. Plus, the down payment gift funds are allowed only after the borrower makes the minimum down payment from their own funds.

Clearly, not every professional will qualify for these loans, as there are good credit qualification thresholds that must be met on all home financing. However, this is an incredibly exciting mortgage product for real estate agents and brokers to tell their professional clients about. With these professional loan options from Opes Advisors, a professional client may be able to purchase a bigger home for their money, and for many that could make them a much happier client.

To learn more or to find a nearby Opes Advisor office, go to

opes Laura RoedelLaura Roedel is Vice President of Marketing for Opes Advisors, a Division of Flagstar Bank. With over 18 years in the financial services industry, she is responsible for innovating, leading, and fulfilling marketing strategies focused on residential home lending and effectively communicating the unique value proposition of Opes Advisors to multiple market segments, including real estate agents and clients.