Bob Cahill, my CPA firm’s #1 mortgage resource, is pleased to announce that Leader Bank is now offering a Healthcare Professionals Loan Program.? “The Leader Bank Healthcare Professionals Loan Program provides borrowers employed at select institutions with outstanding fixed rate options for the purchase of their new home,” says Bob.
Bob recently proposed a mortgage package to one of my clients and is saving her $300 per month over the loan package offered by a competitor’s Doctor Loan program.? According to Bob, here are the basics of Leader Bank’s mortgage program:
- Maximum loan amount of $1,200,000
- Property located in Commonwealth of Massachusetts
- Maximum “Combined Loan To Value” (CLTV) of 90%
- Maximum “Debt To Income” ratio of 40%
- Minimum FICO of 720
- Eligible properties include single family primary residences and warrantable condos
- US Citizens and Permanent Residents only
One additional provision of Leader Bank’s Healthcare Professionals Loan Program requires that you or your spouse must be employed at one of the following 20 major Boston medical institutions:
- Beth Israel Deaconess Medical Center
- Boston Children?s Hospital
- Boston Shriners Hospital
- Brigham and Women?s Hospital
- Cambridge Hospital / Cambridge Health Alliance
- Dana Farber Cancer Institute
- Harvard Pilgrim Health Care
- Harvard Vanguard Medical Associates
- Joslin Diabetes Center
- McLean Hospital
- Massachusetts Eye and Ear Infirmary
- MGH / Partners Health Care System
- MGH Institute of Health Professions
- Massachusetts Mental Health Center
- Medical, Academic and Scientific Community Org.
- Mount Auburn Hospital
- Spaulding Rehabilitation Hospital
- The Center for Blood Research
- The Schepens Eye Research Institute
- Veterans Administration Boston Healthcare System
Interest rates have dipped recently so it’s a great time to purchase or refinance a home. For more information about Leader Bank’sHealthcare Professionals?Loan Program or other home mortgage products available through Leader Bank, please feel free to contact?Bob Cahill?by phone or e-mail.