Medical Doctors Looking for a Physician Loan
We all know that becoming a medical doctor took a lot of time and hard work and cha'ching . . . money! Most mortgage lenders will look at those . . . oh, gosh . . . I hate to say the dirty word -- student loans -- when qualifying a borrower.
If you're a medical doctor looking to purchase a home in the Portland Metro area the best option is a Physician Loan.
What is a Physician Loan and How Does it Help a Medical Doctor?
A Physician Loan is designed specifically to allow medical doctors to apply for a home loan but more importantly -- obtain pre-approval.
Do All Lenders Underwrite a Physician Loan?
In a word: NO
But not to worry. If you're a medical doctor in the Portland area I've got a wonderful diagnosis recommendation to cure any mortgage loan symptom. Not only will your Physician Loan be the best cure, I do have the perfect prescription for your Physician Loan.
There's not a lot of loan product out ther but I do know a few lenders who have designed a loan program using specialized mortgage underwriting guidelines tailored to the financial needs of medical doctors.
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Loans up to $1 Million
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No PMI (private mortgage insurance)
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Maximum 90% L-T-V (loan to value)
There are other options designed to assist medical doctors with a Physician Loan of up to $3.5 Million through specilized loan programs.
Take Two Loan Apps . . . and Call Me in the Morning
If you're a medical doctor in the Portland area and are interested in buying a home, the first step is to get your Physician Loan in place.
"When a medical doctor is fresh out of school with loan debt, they may want to know what they can afford to purchase based on their new income. Conventional lending may have them into high interest rates and they may hit brick walls where they're unable to qualify for a loan to purchase a home they deserve. That's where our Physician Loan program comes in . . . for that 'grey area.' "
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