Buying a home in Denver can seem financially out-of-reach, but if you qualify for a no down payment mortgage program then what seemed impossible can immediately become feasible. Whereas, traditional mortgages require you to put some money down at minimum 3.5%, there are options available that allow you to put very little or even nothing at all down when buying a home. MedicalPRO HOME is the only no down payment home loan program designed specifically for medical and behavioral health professionals in Denver, Colorado.
What is MedicalPRO HOME?
We have paired real estate expertise with a local lending partner to offer a stress-free approach to homebuying. By making homeownership more feasible, we hope to not only retain talented medical and behavioral health professionals within our community but to also offer valuable support to a segment that is overworked, often undervalued, and deserving of a place to call home
MedicalPRO HOME is a partnership between two halves of the real estate process, both of whom share a passion for offering meaningful support to our local healthcare professionals. Olivia Kunevicius of milehimodern pairs her real estate expertise with Todd Barrett from The Barrett Mortgage Team powered by Canvas Credit Union to create this all-in-one approach to home buying for Denver’s healthcare workers. Through the MedicalPRO HOME program, you gain access to:
- No down payment home loans for healthcare workers
- Physician home loans with zero down payment and no mortgage insurance
- $1,000 in closing cost credit, whether buying or selling
- A streamlined process to reduce the stress of homebuying
- Ultimate flexibility to work with your demanding schedule
- And even childcare support during showings!
What is a No Down Payment Mortgage?
A typical mortgage starts with a pre-approval process that determines how much you’re eligible to borrow, what your debt-to-income ratio should be, interest rates, loan terms, and how much of a down payment you’ll need to provide. All of these factors can significantly influence your homebuying budget and ability to buy what you need. In addition, it can take a lot of time to get pre-approved for a home loan that meets your needs.
As a healthcare worker, your time is far too valuable to spend researching, applying, and comparing lenders. Add to all of that the time it takes to save for a down payment and it can make purchasing a home seem daunting. That’s why we offer a no down payment mortgage program to qualifying healthcare workers in the Denver metro area. As a part of MedicalPRO HOME, Canvas Credit Union makes it possible for you to buy a home with no money down, providing 100% financing for homes in the Denver metro area.
Who Qualifies for the MedicalPRO HOME No Down Payment Mortgage Program?
Homebuyers must meet qualifications for MedicalPRO HOME’s no down payment mortgage program. In order to qualify, you or your co-applicant must meet the following criteria:
- You are currently employed as a medical provider, behavioral health provider, or healthcare support staff
- You will not own another property at the time of closing (if you do, we have an alternative 5% down mortgage program)
- You have a debt-to-income ratio of 45% or less
If you meet some of the above criteria but not all, you should still reach out to us! Our financing solutions can cater to a variety of specific needs.
How Can I Check if I Qualify for the MedicalPRO HOME Program?
To start the process and find out for certain whether you meet the no down payment mortgage qualifications, schedule a call with us! We cannot wait to serve you in honor of how you serve the Denver community every day.