Medical Doctor Mortgages

Here are some quick program details about medical doctor mortgages with Scotiabank, for example.

Contact me today to learn more about mortgage programs in Ottawa for medical doctors as well as to find you the best mortgage rates in Ottawa.

Key features:

A program that uses future income for qualification purposes. For medical professionals who have recently completed or are in at least their third year of residency.

Fast Facts:

Borrower qualifications:

Medical residents who are in at least their third year of residency or fellowship.
Newly practicing physicians that have started practicing within the last 12 months.

Income verification:

Medical residents who are at least in their third year are permitted to qualify based on a family medicine specialization of $185,000, or
Medical residents who are in their last year of residency. Or, within the first 12 months of practicing

Note, given family medicine’s residency program is 2 years in length, you may qualify using projected income when they’re in their second year of residence for family medicine.
Note, verification of actual income is also required.

Eligible purposes for medical doctor mortgages:

Eligible properties:

Primary residences

Documentation requirements for medical doctor mortgages:

Confirmation of your enrolment in residency. This must include what year you are currently in (or date of completion for applicants who have recently completed their education)

Contact me today to apply for a medical doctor mortgage

¹Prime rate may vary from lender to lender.

²Rates shown are only available for new first priority mortgages on already built, owner-occupied properties with amortization periods of 25 years or less, down payments of less than 20%, insured mortgages and are subject to meeting lender and mortgage insurer credit granting criteria.

Rates shown are not available for pre approvals, commercial properties, lots, agricultural properties, hobby farms, refinances, rental properties, uninsured mortgages, uninsurable mortgages, flex down mortgages, alternative lending and private mortgages.

All rates may change or be withdrawn at any time without notice.

Variable rates will change when the lender’s prime rate changes. In a variable if prime changes, your payment or amortization will change.

³Payments are approximate and are for illustration purchases only. Actual payment may vary.

Other terms and conditions may apply, please contact me for complete details.