Physician Loan Portland Medical DoctorMedical 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.

  • Loans up to $1 Million
  • No PMI (private mortgage insurance)
  • 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.' "

search Portland PropertiesEBA Portland ~~ 100% BUYER REPRESENTATION ~~ 100% of the Time

EBA Portland, LLC is an Exclusive Buyer Agency serving the Metro Portland real estate market since 1999. If you’re a Buyer in the Metro Portland area (including: Beaverton, Tigard, Hillsboro, Lake Oswego, Downtown Portland,) and contemplating a purchase, talk with a Buyer’s Agent . . . better yet, talk to an Exclusive Buyers Agent. Exclusive Buyers Agents do not work for listing brokerages or Sellers. An EBA’s fiduciary duty is: 100% BUYER REPRESENTATION . . . 100% of the Time.

 Carla Muss-Jacobs
503-810-7192
Carla@carlahomes.com 		         

BuyersAgentPortland.com

All rights reserved ©

 
This post has been included in Oregon Real Estate News Multnomah County, OR Real Estate News
Post is included in group: Diary of a Realtor
Post is included in group: Portland Metro Real Estate
Post is included in group: Dedicated Bloggers
Post is included in group: Posts to Localism
Post is included in group: Addicted to Active Rain

20 Comments on A Physician Loan: PERFECT for a Medical Doctor Buying in Portland

MAY
12
2012
1,946,192 Points 477 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

This is great Carla. 

The interest in the Physician's Mortgage is quite high.  Most agents who read my post didn't even know what they were.

 
1:12pm • #1
979,143 Points 114 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Lenn . . . I've work with doctors using this type of loan and I'm glad Key Bank has a great loan program for this!   And the "interest in the Physician's Mortgage is quite high."  Not to be confused with the "interest rate" on the Physician's Mortgage -- which is, actually, quite comfortable ;-)
1:28pm • #2
1,114,719 Points 101 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

So many professions have good programs out there.  I remember writing on one that is specific to the service industry of firefighters, EMTs and Police Officers.  I'll have to dig that up and see if it's still current.
1:29pm • #3
1 Featured Post

Carla. Congratulations on the Featured Post! This was so informative and something I was completely unaware of. Thanks for the great info.
1:31pm • #4
Outside Blog

Thanks for the tip, Carla, I'll add them to my list of contacts when I deal with a physician out here :)
1:32pm • #5
1,142,581 Points 242 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Great tip, Carla!  Thanks for the heads-up--another program to add value to buyers' packets!  As Tammy said, there are so many wonderful employer and professional lending programs out there now, it's unbelievable!  Congrats on the feature!
1:39pm • #6

Great information.  We have similar programs for fire fighters, teachers and police officers.  I will need to do research to determine if mortgage companies in Montgomery, AL offer this type of program for physicians or other medical fields.
1:43pm • #7
273,086 Points 15 Featured Posts Outside Blog Called Shot Master

Any physician who is looking for a new home should consider this option. Thanks for the informative post.
1:51pm • #8
1 Featured Post Outside Blog

Clara,

Thank you. Apparently there are many loans for special situations and buyers and yes this is one I had not heard of before. Thank you for brining this up.
2:20pm • #9
486,374 Points 3 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Glad to hear that doctors (MD's) are able to have the promise of hope on the horizon to get a home loan. Student loans can be a huge obstacle, not only for doctors, but other working at paying their education off.
4:12pm • #10
1,124,818 Points 90 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Great post Carla and congrats on the feature.

 
6:06pm • #11
105,666 Points 2 Featured Posts Outside Blog Attended Rain Camp
Very helpful and detailed post Carla. No doubt your blog will help many Doctors looking for a Physician Loan in Portland
7:28pm • #13
864,691 Points 18 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

I have read about these loans and there are some programs similar to this in So. New Hampshire as well.  It is a product which can be very helpful to those who qualify and are looking to purchase a home.
7:46pm • #14
759,094 Points 105 Featured Posts Outside Blog Called Shot Master

Carla, this type of loan would be ideal for many of the healthcare professionals located in the Nashville area. I will have to do a little bit of research on these.
8:23pm • #15
871,571 Points 47 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Carla, our area has a bank which does Physician loans up to 100% - they are portfolio loans, as these no doubt are, so they aren't worried about any secondary market rules. You've given me an idea for a post. Thanks!

Sharon
8:52pm • #16
547,229 Points 9 Featured Posts Outside Blog Called Shot Master

Carla:

I have never heard of physician's loan.  I have to see if they are available here.  They sound like a good tool to market to MDs.
8:57pm • #17
1,351,014 Points 41 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Carla - This seems like such a great program for physicians who are looking to buy a home.
10:16pm • #18
1,583,165 Points 429 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Carla

Thanks for sharing some good information about Physician Loans. I really knew very little about them. After reading your post and Lenn's I'm well informed. Gotta find some lenders in the area that will underwrite them.

Jeff
10:30pm • #19
MAY
13
2012
299,908 Points 7 Featured Posts Outside Blog Attended Rain Camp

Hi Carla, great localism post for this type of loan and such a good recommendation for Cristina. I will have to check if my area has these loans.
8:00am • #20
MAY
14
2012
291,825 Points 20 Featured Posts Outside Blog Called Shot Master

Carla,

Sounds like lenders are loosening up a bit.  Are these portfolio loans? 

No down loans to young MDs in 2001 started the whole no down payment lending in Silicon Valley.  That's where it started as sort of an experiment.  I do understand yours are 90% LTV.
10:48pm • #21


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Carla_1 Rainmaker_large

Carla Muss-Jacobs - Principal Broker/ Owner | Exclusive Buyers Agent |

Portland, OR

More about me…

503-810-7192 | BuyersAgentPortland.com

Address: Beaverton OR, Portland OR, Forest Heights, Lake Oswego, Hillsboro, SW Portland, SE Portland, NW Portland, N Portland, Downtown, The Pearl, NE Portland, Milwaukie, West Linn, Aloha, Cedar Hills, Portland, OR

Office Phone: (503) 810-7192

Cell Phone: (503) 810-7192

Email Me

Author Bio: Carla Muss-Jacobs is the Principal Broker/Owner of EBA Portland, LLC an Exclusive Buyer Agency representing Buyers in the Portland Metro real estate market since 1999.

The Sellers have their own agent ~~ Why don't you have yours?  

Carla Muss-Jacobs practices the TRUE FORM of Buyer Agency ~~ Exclusive Buyer Agent.  Her office/brokerage never takes listings and never respresents the Seller.  Exclusive Buyer Agency is the BEST form of legal real estate representation a Buyer can have.  There is 100% Buyer Representation - !00% of the Time.  There are NO CONFLICTS OF INTEREST and there is no possibility of ever having YOUR Buyer Agency comprised.  When buying a house -- it's important to know who is working for you!!  



Listings

Links

Archives

RSS 2.0 Feed for this blog