Guild Mortgage Introduces New Medical Professional Mortgage Program to Help Doctors Purchase Their First Home

New Initiative Offers Zero Down Payment, Fast-Tracked Path to Homeownership

Guild Mortgage (NYSE: GHLD), a rapidly growing mortgage lending company originating and servicing residential loans since 1960, has introduced a new mortgage option designed to make it easier for medical professionals to buy their first home.

Under the Guild program, 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. “While medical professionals have always been considered heroes, the pandemic helped everyone become more aware of just how much those in medical professions sacrifice. Guild wanted to do its part to help those who have invested so many years of their lives in preparing to serve others and save lives. 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. It’s Guild’s way of saying thank you to the medical community.”

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.

To take advantage of this program, Watts says it is best for medical professionals to connect with a loan officer in a local Guild branch who will be able to confirm eligibility, answer questions and help with the application process. Proof of present or future employment must be supplied.

For more information, visit https://www.guildmortgage.com/get-started/products-services/medical-professional-mortgage/. All loans subject to underwriter approval. Terms and conditions apply, subject to change without notice. For more licensing information, please visit www.guildmortgage.com/licensing.

Headquartered in San Diego, Guild Mortgage is a leading national lender with an established history of developing innovative pilot programs and specialized products in partnership with government organizations to help deliver the promise of home in every neighborhood and community it serves. Its loan professionals can serve the needs of any homebuyer, from helping first-time buyers achieve homeownership, often through government loan programs, to homebuyers looking for a jumbo loan. Guild also helps active duty and retired military personnel who qualify for VA loans with 100% financing and flexible qualifying standards. The company is consistently recognized for its impact in the communities it serves, commitment to customer service, strength in regulatory compliance, and workplace culture.

About Guild Mortgage

Founded in 1960 when the modern U.S. mortgage industry was just forming, Guild Mortgage Company is a nationally recognized independent mortgage lender providing residential mortgage products and local in-house origination and servicing. Guild’s collaborative culture and commitment to diversity and inclusion enable it to deliver a personalized experience for each customer. With more than 4,000 employees and over 200 retail branches, Guild has relationships with credit unions, community banks, and other financial institutions and services loans in 48 states and the District of Columbia. Guild’s highly trained loan professionals are experienced in government-sponsored programs such as FHA, VA, USDA, down payment assistance programs and other specialized loan programs. Its shares trade on the New York Stock Exchange under the symbol GHLD.

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