The Cobalt Professionals Program for medical and dental professionals is developed to recognize the individual aspects of those entering the medical field and to identify the prospect for increasing income as they advance in their profession.*
- Expanded underwriting criteria for student loan debt
- Limited down payment
- Lender Paid and Borrower Paid Mortgage Insurance options available
Eligible professions include: medical resident, medical doctor, optometrist, chiropractor, dentist, dental surgeon, and pharmacist.
* An applicant must have, or open prior to closing, a checking or savings account with Cobalt Credit Union. Applicants with an existing account with Cobalt prior to application, also satisfy this requirement. Eligible medical professionals include: (1) medical doctors who are actively practicing, (MD, DDS, DMD, OD, DPM, DO), (2) medical fellows and residents who are currently employed, in residency/fellowship, or (3) for salaried employees only: medical students and medical doctors who are about to begin their new employment/residency for fellowship within 90 days of closing. Those employed in research aor as a professor are not eligible. For qualified borrowers with excellent credit. PITIA (Principle, Interest, Taxes, Insurance, Assessments) reserves 4-6 months are required, depending on loan amount.
