A New Kind of Practice

Summary

Our MedHome Loans are created specifically for the unique and distinctive circumstances that emerging medical professionals face:

  • Large, outstanding student loans
  • Minimal liquid savings
  • Short-to-moderate credit history
  • Disproportionate debt-to-income ratio
  • Lack of knowing that homeownership is a possibility at all

Bank of Akron is suited to help with:

  • Flexible allowances for student loan balances, so the debt-to-income ratio is not an instant deal-breaker
  • No private mortgage insurance required, to help keep all monthly payments manageable
  • Only 3% of the purchase price needed*, so getting stared is easier than ever
  • Minimum average credit score of 650, to remove often high barriers-to-entry

Contact us and find your way home.

*NMLS #195362* Up to 80% on first lien; Up to 17% on a second lien, for a combined loan-to-value of up to 97%MedHome Loans do not require first use on a mortgage, and there is no limit amount on mortgage if income and appraisal both support it. Applicants are required to have a minimum of three tradelines open and a debt-to-income ratio of at least 42%, which will exclude student loans in deferment status. Homes in review of purchase must be single-family and owner-occupied – no two-units.