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

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.

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.

Carla. Congratulations on the Featured Post! This was so informative and something I was completely unaware of. Thanks for the great info.

Thanks for the tip, Carla, I'll add them to my list of contacts when I deal with a physician out here :)

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!

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.

Any physician who is looking for a new home should consider this option. Thanks for the informative post.

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.

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.

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.

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.

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

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.

Carla - This seems like such a great program for physicians who are looking to buy a home.

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

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.

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.