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14th May 2016, 04:28 PM
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Join Date: May 2012
Re: Bank Of America Physician Loan

Bank of America is an American multinational banking and financial services corporation headquartered in Charlotte, North Carolina. The Bank was established on October 17, 1904.

Bank of America provides its products and services through operating 5,100 banking centers, 16,300 ATMs, call centers, and online and mobile banking platforms.
It is the second largest bank holding company in the United States by assets.

Bank of America Doctor Loan

For residents and licensed, practicing doctors, including dentists and other eligible medical professionals, this home loan offers significant advantages, including:

Low down payment options

Employment start date up to 60 days after closing allowed

Student loan debt may be excluded from total debt calculation

Financing for attached or detached single-family residences, PUDs and condos

Other loans offered by the bank-

Government Loan Programs

FHA program -

Industry standard credit score requirements
Nontraditional credit
Higher loan-to-value (LTV) ratios1
Nonoccupant co-borrower
Up-front Mortgage Insurance Premium (UFMIP) financed or paid in cash by applicant or seller
Monthly Mortgage Insurance Premium (MIP) required

VA program -

Industry standard credit score requirements
Nontraditional credit
Up to 100% LTV ratio2
No mortgage insurance (While VA loans do not have mortgage insurance, the borrower is required to pay a VA funding Fee. This fee is typically financed into the loan amount.)

Conforming (fixed-rate and Adjustable Rate Mortgage, "ARM")

Various down payment options
Fixed-rate terms include 15-, 20-, and 30-year options
ARMs have 30-year terms and include 3-, 5-, 7- and 10-year fixed-period options3

Nonconforming/jumbo (fixed and ARM)

Affordable housing assistance programs


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