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Guild Mortgage Announces Medical Professional Mortgage Program

Navi Persaud
Oct 27, 2021

Guild Mortgage introduced a new mortgage product to help medical professionals buy their first home with no down payment.

With Guild Mortgage's new program, the company states that qualified medical professionals, including those who have just graduated from medical school, can qualify for a home loan with up to 100% financing, no required mortgage insurance, and the ability to exclude student debt from their debt-to-income ratio. The program offers loans up to $850,000.

“At Guild, we’re always looking for new ways to make a difference for first-time homebuyers, often with niche mortgage options and initiatives,” said Mary Ann McGarry, CEO. “Our new program makes homeownership affordable and achievable at the earliest stages of their careers, so they don’t have to wait to buy a home.”

Erin Watts, Guild’s vice president of product strategy, said the initiative will provide more options to those in the medical field who may not have qualified for a traditional loan because of student debt or lack of funds for a down payment. 

“With this program, Guild is creating a path to homeownership that meets the specific needs of medical professionals of all types,” she said. “No matter the discipline or specialty, one thing all these medical professionals have in common is the large investment required to get started in their careers. Guild understands that student debt can make it tough for new medical professionals to qualify for traditional mortgages. With this program, no down payment is required, and student debt is completely removed from the equation.” 

Medical professionals eligible for Guild’s medical professional mortgage program include those working as a medical resident, medical doctor, medical fellow, chiropractor, pharmacist and doctors of dental medicine, ophthalmology, osteopathy, surgery, dental surgery, optometry, podiatric medicine, veterinary medicine, and psychiatric medicine. A minimum credit score of 700 and a debt-to-income ratio of no more than 43% are required to qualify.

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