Doctor Mortgage loans for FICO 700+

[Dre1207]

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Hey all,

My credit score is 703 (middle number)...i know that Bank of America's loan only looks at clients with a FICO above 720...

Are there any others that will do the loan with a FICO above 700? Basically, i need a lender who will NOT count my student loan debt.

Please help!

 

[Pegsie]

If I remember correctly, Physician Loans http://www.physicianloans.com/ takes above a 680.

 

[DoctorWannaBe]

Hey all,

My credit score is 703 (middle number)...i know that Bank of America's loan only looks at clients with a FICO above 720...

Are there any others that will do the loan with a FICO above 700? Basically, i need a lender who will NOT count my student loan debt.

Please help!

You only need a FICO score of 700 for the Bank of America doctor loan.

 

[mshheaddoc]

The only lenders that will NOT count your student loan are those doing young professional loans (not always called physician loans) and then if you do government FHA financing they won't count your student loans. I am unsure of current credit requirements for most loans because your loan isn't just based on your credit. It's based on your downpayment, your total monthly payment, your debt to income ratio, etc. I would inquire to each lender you're interested in as lending requirements are changing daily.

 

[NOMONEYDOWN]

BofA will only do it if you have a 720 and not count student loans if you can provide a letter from your employer stating you have more than 6 months of residency left or a documentation showing you have 12 months or more of being deferred.