Updated · Mike Certo, NMLS #260555
Redwood Sequoia Medical Professionals Program. Canonical Specs
This page is the single source of truth for the Redwood Sequoia Medical Professionals Program. LTV tiers, FICO requirements, eligible and excluded credentials, residency timing, student-loan treatment, and property restrictions all live here.
LTV / FICO tiers
- 100% LTV at $1.5M with 680+ FICO
- 100% LTV at $2M with 720+ FICO
- 95% LTV at $2M with 680+ FICO
- No PMI at any LTV
Above $2M, financing moves to traditional jumbo or super-jumbo programs (separate from Redwood Sequoia).
Eligible credentials
- MD (Doctor of Medicine)
- DO (Doctor of Osteopathic Medicine)
- DDS, DMD (Dentistry)
- DPM (Podiatric Medicine)
- DVM (Veterinary Medicine)
- PharmD (Pharmacy)
- Ophthalmology MD/DO
- Psychiatry MD/DO
- CRNA with DNAP or DNP
Credentials NOT eligible
Residency and fellowship timing, 150 days pre-start
Borrowers are eligible up to 150 days before residency, fellowship, or attending position start date. With a signed offer letter or fully executed contract, qualifying income uses the projected resident, fellow, or attending income.
Student loan treatment
Deferred and Income-Based Repayment (IBR/PAYE) student loans are excluded from DTI calculation under these specific conditions:
- Borrower is currently in residency or in a medical clinical fellowship, AND
- Borrower qualifies on the current resident or fellow income
For all other student loans (post-attending borrowers, or residents qualifying on attending income):
- The credit-report payment is used
- If the credit report shows $0 payment, qualification uses either the IBR payment per documentation, or 1% of the outstanding balance, or a fully amortized payment
Borrower and property restrictions
- Primary residence only. No second homes, no investment property.
- 1-unit only. No 2-4 unit properties, no manufactured/mobile homes, no condo-hotels.
- Eligible entity closings: Inter Vivos Revocable Trust and Illinois Land Trust allowed.
- Not eligible: LLCs, corporations, partnerships, non-revocable trusts, life estates, guardianships.
- SSN required: All borrowers must have a valid Social Security Number.
Next step
20-minute call. Bring credential, current residency/fellowship/attending status, target AZ purchase area, target purchase price, and student debt picture.
Related
FAQ
Are optometrists eligible under Redwood Sequoia?
No. Optometrists (OD) are NOT eligible under this specific program. Other loan products may fit, we discuss alternatives on the consult.
What's the maximum LTV?
Up to 100% LTV at $1.5M with 680+ FICO; 100% LTV at $2M with 720+ FICO; 95% LTV at $2M with 680+ FICO. Above $2M moves to traditional jumbo.
Can residents qualify before starting residency?
Yes, up to 150 days before residency or fellowship start date. Income qualifying uses projected resident/fellow income.
Can I close in an LLC?
No, only Inter Vivos Revocable Trust or Illinois Land Trust closings allowed. LLCs, corporations, partnerships, non-revocable trusts not eligible.
How student-loan debt is actually counted
The reason a physician program exists is deferred student debt, and the agency treatment is in Fannie Mae B3-6-05, which governs how a deferred or income-driven payment enters the debt ratio. Physician programs are portfolio products rather than agency loans, so they set their own treatment — commonly excluding deferred student debt outright — but the agency rule is the benchmark every program is measured against, and it is what a conventional alternative would apply. The Consumer Financial Protection Bureau covers the borrower side. In Arizona: licensure is verified through the state and the relevant board, and a signed employment contract with a start date is usually enough to qualify before the first payslip.