TruWest® Credit Union launches Medical Professional Home Loan Program
SCOTTSDALE, AZ (September 13, 2022) — TruWest Credit Union is bringing homeownership within reach for medical professionals who are currently employed, in residency or fellowship, or newly licensed medical students with a contract who will begin their new employment or residency within 60 days of closing.
TruWest’s new Medical Professional Home Loan program is tailored for each individual borrower and may be particularly beneficial to recent graduates with large student loan debt, traditionally associated with attending medical school. As part of the loan program, student loans may be excluded from the applicant’s debt-to-income ratio with proof of at least 12 months deferment or forbearance from the application date.
“Medical professionals invest so much time and talent in our local communities,” said Farid Farbod, Chief Lending Officer from TruWest Credit Union. “This home loan program helps to give these critical individuals an opportunity to not have to wait to achieve their goal of owning a home. We are honored to support these heroes.”
Eligible individuals include medical residents, existing or new licensed Physician Assistants, Nurse Practitioners, Nurse Anesthetists, Medical Doctors, Doctors of Dental Science, Doctors of Dental Medicine, Surgeons specializing in oral and maxillofacial surgery, Doctors of Optometry, Doctors of Ophthalmology, Doctors of Podiatric Medicine and Doctors of Osteopathy.
Eligible borrowers can take advantage of both fixed or adjustable rate mortgages on single-family dwellings, warrantable condos or townhomes. Minimal down payments start at 3% on loans up to $975,000 and 10% on loans up to $1,650,000. Qualifications regarding DTI, down payment and FICO scores apply.
For more information about the TruWest Medical Professional Home Loan Program, visit www.truwest.org/medhomeloan. To learn more about TruWest Credit Union, visit www.truwest.org.
About TruWest Credit Union
TruWest® Credit Union is headquartered in Tempe, Ariz., and operates as a cooperative providing its members with a lifetime of quality financial services and a culture of caring for its members, employees and communities. TruWest is a strong and sound financial institution with more than 93,000 members and assets totaling more than $1.5 billion. TruWest® Credit Union has 12 branch locations – eight in metro Phoenix and four in Austin, Texas. For more information, visit truwest.org.