Your Credit Score and the Doctor Loan Doctor loans are great for several reasons. In many situations they can remove the need for a down payment, they don’t require mortgage insurance, and yet they still offer great rates on both fixed and adjustable rate mortgages. There are key pieces of
What if I wait until next year to buy? First-time homebuyers are flocking to the housing market in greater numbers than any time in the last few years. Renters who are ready and willing to buy are now realizing that they are also able to as well. Many first-time buyers
Med School Loans and how they impact your ability to buy a home. Your school debt plays a factor when considering your mortgage options: You’ve been in school in some shape or form for the better part of the last 20 years, and unless your one of the fortunate few,
Avoid Pitfalls of Meeting Down Payment Requirements Though many Doctor Loan programs allow for a small down payment, the guidelines concerning where the funds are derived from, can be complicated. If the lender requires 5% of the purchase price be from your own funds, one must be well prepared. If
Budgeting for a New Home Down Payment Options: Where Can The Funds Come From? Over the last several years the approval process for loans has tightened up along with higher credit score and down payment requirements. Fortunately, this past year has seen some loosening of loan requirements, enabling more buyers
Should I Wait to Put Down a Bigger Down Payment? Some experts are advising that first time and move-up buyers wait until they save up 20% before they move forward with their decision to purchase a home. One of the main reasons they suggest waiting is that a buyer must
Why would a bank offer a Doctor Loan? What is the motivation for the bank to offer a Doctor this type of loan? Physician loans, also referred to as doctor loans, present a unique set of circumstances for lenders because new doctors do not have any work history and usually
Med School Loans and Income Based Repayment (IBR) Qualifying for a Doctor Loan: Medical School Loan Deferment (Waiving medical school loans from your qualifying debt to income ratio when qualifying for a Doctor Mortgage) This topic of discussion often comes up because many physician lenders simply advertise “medical school loans
Length of Time Since Residency Length of Time Since Residency: Things to consider when selecting a lender Some physician mortgage lenders place a limit on the length of time that you have been out of residency. Other lenders have no restricts whatsoever on length of time since residency. If it
What do most Physician Loans have in Common? What is a Doctor Loan?A Doctor Loan or Physician Loan is a mortgage specifically designed with medical professionals in mind. They offer features unique to individuals in the medical profession. What features do most Physician Loans have in common?The ability to finance
