The Doctors Advantage 7/1 ARM Mortgage from People Driven Credit Union is explicitly designed for licensed medical professionals in Michigan. With lower initial rates than a fixed mortgage, and up to 100% financing, it offers an affordable path to homeownership, especially during the early years of your career or while managing student loan debt.
Membership and eligibility requirements apply, with approval subject to application, credit, and property considerations.
What Is a 7/1 ARM?
A 7/1 Adjustable-Rate Mortgage (ARM) offers an initial interest rate for the first seven years of the loan, followed by annual adjustments based on market conditions. This makes it a great option for borrowers planning to move, upgrade, or refinance within a few years.
Why Choose the Doctors Advantage 7/1 ARM?
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Up to 100% financing available – No down payment required for qualified borrowers (CLTV/HCLTV up to 100%)
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No Private Mortgage Insurance (PMI)
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7/1 ARM structure – Enjoy a lower initial interest rate for the first 7 years, then adjust annually
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No Loan-Level Price Adjustments (LLPAs) – Interest rate not increased based on common risk-based factors
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Premium pricing and buydown options allowed
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Loan amounts up to $1,000,000 (may vary by borrower qualifications and property type)
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Minimum credit score: 740
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Maximum debt-to-income ratio: 40%
Who’s Eligible?
To qualify, you must have experience in one of the following licensed medical fields:
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Physicians (MD/DO), including Anesthesiologists
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Dentists (DDS/DMD)
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Pharmacists (PharmD)
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Veterinarians (DVM)
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Nurses
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First Responders
This mortgage is available throughout Michigan and can be used to purchase a primary residence, second home, or investment property.
How the Doctors Advantage 7/1 ARM Mortgage works
The Doctors Advantage 7/1 ARM Mortgage is a conventional adjustable-rate mortgage program created for eligible medical professionals and first responders. The interest rate is fixed for the first 7 years. After that, the rate may adjust once per year based on the loan terms and market conditions.
Qualified borrowers may be eligible for up to 100% financing. Taxes, insurance, escrow amounts, and other housing costs may still change over time.
Best for
The Doctors Advantage 7/1 ARM Mortgage may be a good fit for eligible professionals who want a lower initial rate option and understand how adjustable-rate mortgages work.
- Eligible Michigan medical professionals
- Eligible first responders
- Borrowers with strong credit and steady income
- Qualified borrowers who want to finance up to 100% of the purchase price
- Buyers who may sell or refinance before the first rate adjustment
- Borrowers comparing the Doctors Advantage 7/1 ARM Mortgage with the Doctors Advantage Fixed Mortgage
- Eligible buyers purchasing a primary residence, second home, or investment property
Loan details
Here is a quick look at how the Doctors Advantage 7/1 ARM Mortgage works.
| Feature | Doctors Advantage 7/1 ARM Mortgage |
|---|---|
| Program type | Conventional adjustable-rate mortgage program |
| Eligible borrowers | Eligible medical professionals and first responders |
| Financing | Up to 100% financing for qualified borrowers |
| CLTV/HCLTV | Up to 100%, subject to program guidelines |
| Initial rate period | Rate is fixed for the first 7 years |
| Adjustment period | After the first 7 years, the rate may adjust once per year |
| Loan amount | Up to $1,000,000, depending on borrower qualifications and property type |
| Minimum credit score | 740 |
| Maximum debt-to-income ratio | 40% |
| Loan-level price adjustments | No LLPAs, subject to program guidelines |
| Mortgage insurance | Review current program guidelines with your mortgage loan officer |
| Property location | Michigan properties only |
| Approval | Subject to credit approval, property approval, income verification, program guidelines, and underwriting requirements |
What happens after year 7?
With a 7/1 ARM, the interest rate is fixed for the first 7 years. After that initial period, the rate may adjust once per year based on the loan terms.
Your adjusted rate may be based on an index plus a margin, subject to any rate caps and minimums described in your loan documents. This means your payment could increase or decrease after the initial fixed-rate period.
Before choosing an adjustable-rate mortgage, review the index, margin, first adjustment cap, annual adjustment cap, lifetime cap, and the highest possible payment shown in your loan estimate.
Who may be eligible?
The Doctors Advantage 7/1 ARM Mortgage is designed for licensed medical professionals and eligible first responders. Eligibility depends on your profession, credit profile, income, debt-to-income ratio, property type, occupancy, loan amount, and underwriting requirements.
- Physicians, including MD and DO professionals
- Dentists, including DDS and DMD professionals
- Pharmacists, including PharmD professionals
- Veterinarians, including DVM professionals
- Nurses
- First responders
A mortgage loan officer can help confirm whether your profession and loan scenario meet current program requirements.
Property and occupancy requirements
The Doctors Advantage 7/1 ARM Mortgage may be available for eligible properties located in Michigan, including a primary residence, second home, or investment property.
Program restrictions apply. Based on current disclosure language, multi-unit properties, condos, townhomes, and manufactured homes are not eligible for this program. Property approval and underwriting requirements apply.
What 100% financing means
Up to 100% financing means qualified borrowers may be able to finance the full purchase price of an eligible property without making a down payment.
It does not mean there are no other homebuying costs. Buyers should still review closing costs, prepaid taxes, homeowners insurance, inspections, moving costs, and other expenses that may come with buying a home.
Your mortgage loan officer can help you estimate your monthly payment, cash needed to close, and whether this program fits your budget.
Doctors Advantage 7/1 ARM vs. Doctors Advantage Fixed Mortgage
People Driven Credit Union offers Doctors Advantage mortgage options for eligible borrowers. The right fit depends on how long you plan to keep the property, how much payment stability you want, and whether a fixed-rate or adjustable-rate structure makes more sense for your goals.
| Mortgage Option | Best For | What to Know | Learn More |
|---|---|---|---|
| Doctors Advantage 7/1 ARM Mortgage | Eligible borrowers who may sell, refinance, or adjust their mortgage strategy before the rate adjusts | The rate is fixed for the first 7 years, then may adjust once per year. You’re viewing this option. | You’re viewing this option |
| Doctors Advantage Fixed Mortgage | Eligible borrowers who want long-term principal and interest payment stability | The interest rate stays fixed for the life of the loan. | View Doctors Advantage Fixed Mortgage |
Doctors Advantage vs. other mortgage options
The Doctors Advantage 7/1 ARM Mortgage is one of several mortgage options available through People Driven Credit Union and Member First Mortgage. The right fit depends on your profession, property type, credit profile, income, down payment, and long-term plans.
| Mortgage Option | Best For | What to Know | Learn More |
|---|---|---|---|
| Doctors Advantage 7/1 ARM Mortgage | Eligible medical professionals and first responders who want an adjustable-rate mortgage with an initial fixed-rate period | The rate may change after the first 7 years. You’re viewing this option. | You’re viewing this option |
| Doctors Advantage Fixed Mortgage | Eligible medical professionals and first responders who want a fixed-rate mortgage | The interest rate stays fixed for the life of the loan. | View Doctors Advantage Fixed Mortgage |
| Zero Down Purchase Program | Eligible Michigan buyers who want to purchase with no down payment | Strong credit, DTI, property, and underwriting requirements apply. | View Zero Down Purchase Program |
| Adjustable Rate Mortgage | Borrowers comparing general ARM options | The rate may change after the initial fixed-rate period. | View Adjustable Rate Mortgage |
| Fannie Mae Fixed Rate Mortgage | Borrowers comparing conventional fixed-rate mortgage options | Down payment, PMI, and underwriting requirements vary by borrower and program. | View Fannie Mae Fixed Rate Mortgage |
Meet Our Mortgage Loan Officer
Michelle Dzon is authorized to act as an agent on behalf of People Driven Credit Union. Contact her for personalized assistance with your mortgage needs.
Michelle Dzon
Member First Mortgage, LLC (MFM)michelle.dzon@memberfirstmortgage.com
Connect with Michelle
616-301-1714 | NMLS ID: #401292 | People Driven Credit Union NMLS ID: #776727
How to apply for a Doctors Advantage 7/1 ARM Mortgage
You can start by requesting a personalized quote or applying online. A mortgage loan officer can help you review eligibility, compare loan options, estimate your payment, and understand your cash needed to close.
- Request a personalized mortgage quote
- Confirm your profession may be eligible
- Review fixed-rate and adjustable-rate options
- Ask how the rate can adjust after the first 7 years
- Gather income, asset, identification, and licensing documents
- Submit your mortgage application for review
- Review your approved loan terms before moving forward
Documents you may need
When you apply for a mortgage, you may need documents that help verify your identity, income, assets, employment, profession, and insurance information.
- Driver’s license or state-issued ID
- Most recent 30 days of pay stubs
- Last 2 years of W-2 forms
- Last 2 years of federal tax returns, if requested
- Most recent 2 months of bank statements, including all pages
- Professional license or employment documentation, if requested
- Documentation for additional income sources, if used
- Contact information for your homeowner’s insurance agent, if applicable
Additional documentation may be requested based on your loan type, income, property, profession, or financial situation.
Membership and mortgage eligibility
The Doctors Advantage 7/1 ARM Mortgage is available to qualifying People Driven Credit Union members. Membership is open to those who live, work, worship, or attend school in Michigan, plus relatives of current members.
A $5 Membership Share Savings deposit establishes membership. Membership and eligibility requirements apply. Mortgage approval is subject to credit approval, property approval, income verification, program guidelines, and underwriting requirements.
People Driven Credit Union is an Equal Housing Opportunity Lender. NMLS #776727.
Let’s get you home
Whether you’re fresh out of residency or established in your field, the Doctors Advantage 7/1 ARM Mortgage gives you the flexibility and support you need to move forward with confidence. Let’s talk about how to get started.
Contact us today to speak with our lending expert:
Meet Our Mortgage Loan Officer
Michelle Dzon is authorized to act as an agent on behalf of People Driven Credit Union. Contact her for personalized assistance with your mortgage needs.
Michelle Dzon
Member First Mortgage, LLC (MFM)michelle.dzon@memberfirstmortgage.com
Connect with Michelle
616-301-1714 | NMLS ID: #401292 | People Driven Credit Union NMLS ID: #776727
Frequently asked questions about Doctors Advantage 7/1 ARM Mortgages
The Doctors Advantage 7/1 ARM Mortgage is a conventional adjustable-rate mortgage program for eligible medical professionals and first responders. The interest rate is fixed for the first 7 years, then may adjust once per year based on the loan terms and market conditions.
This program is designed for eligible medical professionals and first responders, including physicians, dentists, pharmacists, veterinarians, nurses, and first responders. Program eligibility and underwriting requirements apply.
Qualified borrowers may be eligible for up to 100% financing, which means no down payment may be required. Other costs may still apply, including closing costs, prepaid taxes, insurance, inspections, and other homebuying expenses.
The interest rate is fixed for the first 7 years. After that, the rate may adjust once per year based on the loan terms.
Yes. After the initial fixed-rate period, your interest rate and monthly payment may increase or decrease based on the loan’s index, margin, caps, and other terms.
Before choosing a 7/1 ARM, review the index, margin, first adjustment cap, annual adjustment cap, lifetime cap, payment examples, and the highest possible payment shown in your loan estimate.
Loan amounts may be available up to $1,000,000, depending on borrower qualifications, property type, program guidelines, and underwriting approval.
The minimum credit score listed for the Doctors Advantage 7/1 ARM Mortgage is 740. Credit approval and underwriting requirements apply.
The maximum debt-to-income ratio listed for the Doctors Advantage 7/1 ARM Mortgage is 40%. Your full application and underwriting review determine final eligibility.
The program may be available for eligible Michigan properties, including a primary residence, second home, or investment property. Based on current disclosure language, multi-unit properties, condos, townhomes, and manufactured homes are not eligible. Property approval and underwriting requirements apply.
Mortgage insurance requirements should be reviewed with your mortgage loan officer. Current page language should be clarified so members understand whether PMI is waived, lender-paid, or required based on the final loan structure and program guidelines.
The Doctors Advantage 7/1 ARM Mortgage has a fixed rate for the first 7 years, then the rate may adjust once per year. The Doctors Advantage Fixed Mortgage keeps the same interest rate for the life of the loan.
You can request a personalized quote or start an application online. You can also contact Michelle Dzon with Member First Mortgage for help reviewing your Doctors Advantage mortgage options.
Disclosures
Available to all eligible medical professional members using a conventional mortgage loan program on a purchase transaction with People Driven Credit Union in the State of Michigan. Not eligible on multi-unit properties, condos, townhomes, or manufactured houses. The Loan Example is current as of 9/9/2025 and based on a $200,000 loan amount with a conventional 30-year ARM term (360 monthly principal and interest payments of varying amounts: initial 5.5% Interest Rate with an Annual Percentage Rate (APR) of 6.199% for years 1-7 (84 monthly principal and interest payments of $1,135.58); first adjusted interest rate can increase or decrease by 2% (3.5%-7.5%) for 1 year (12 monthly principal and interest payments of $938-$1,352); second adjusted interest rate can increase by 2% or decrease as low as the rate minimum (2.75%-9.5%) for 1 year (12 monthly principal and interest payments of $872-$1,579); subsequent adjustments can increase to the rate maximum (10.5%) or decrease to the rate minimum (2.75%) each year for years 10-30 (annually adjusted monthly principal and interest payments of $872-$1,695)); 0% Down Payment; Rates quoted assume excellent borrower credit history. Payment example does not include taxes and insurance; the actual payment obligation will be higher. The cost of Private Mortgage Insurance (PMI) is waived as part of this promotion, to be paid by the Lender. This is not a commitment to lend. All lending products are subject to credit and property approval. Additional restrictions may apply. MFM is a partner of People Driven Credit Union. Michelle Dzon #401292, is authorized to act as agent of People Driven Credit Union (24333 Lahser Road, Southfield, MI 48033 | (248) 263.4100 | NMLS ID: 776727) and is authorized to represent MFM, a licensed Mortgage Lender/Servicer (Corporate Office: 616 44th Street SE, Grand Rapids, MI 49548 | (616) 538.1818 | NMLS ID: 149532). For licensing information, please visit www.nmlsconsumeraccess.org. Equal Housing Opportunity.
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