Higher Educator Mortgage Program

*For example, on a 10/1 Adjustable Rate Mortgage (ARM), the index is the average yield on U.S. Treasury securities adjusted to a constant maturity of one year, as made available by the Federal Reserve Board and the interest rate and payment are fixed for the first ten years of the loan. The interest rate cannot increase or decrease more than 5% at first adjustment and 2% per subsequent adjustment from the initial interest rate at each twelve-month adjustment. The interest rate cannot increase more than 5% over the term of the loan. Click for mortgage payment examples. Medical professionals are defined as being practicing physicians with employment contracts or practicing > 1 year, Resident, Intern, Fellows, Registered Pharmacists, Physician Assistants, Nurse Practitioner, RNBSN, medical professionals with PHDs, and Dentists.

Adjustable rate mortgages are available in CA, CT, DE, District of Columbia, FL, GA, IL, IN, MD, NJ, NC, PA, SC, TX, VA, WV. Conventional fixed rates are available in all states, except NY, NV and HI.