Are you a physician or a resident? Whether you’re just starting your career or are farther along, have you heard that there are doctor home loans customized for you and your needs? These can be advertised as doctor loans, physician loans, doctor home loan programs, and similar names.
Can I get a doctor’s home mortgage even if my income will be changing?
Yes — you can get a home loan that can fit your needs and provide you with flexibility in interest rates, amortization terms, payments, and loan requirements. You may be able to access a doctor home loan with no down payment required and that doesn’t require monthly mortgage insurance payments (PMI).
Is there a jumbo mortgage for doctors?
Do you want to buy a single-family home that is worth more than $726,525 (or $484,350 in lower-cost counties in California)? You need a Jumbo mortgage. You can find jumbo mortgages designed especially for doctors. Access mortgages with flexible underwriting terms, varying down payment requirements, and a high loan-to-value ratio.
I have medical school debt — how does this affect my ability to get a doctor’s home loan?
This is one of the reasons for the doctor home mortgage programs. Lenders specializing in physician or doctor mortgages are experienced in qualifying you for the payment you can afford and a home loan that will help you to achieve your homeownership and financial goals.
I’m relocating to a different community for work — how can I get a mortgage that will help me buy a home in my new community?
Your financial and employment/relocation needs will influence the home loan you choose. This is one of the most important reasons to work with a qualified mortgage specialist. They are experienced and work with many doctor home mortgage lenders. They can help you to select and qualify for the doctor mortgage that will help you to relocate and also meet your overall financial goals and needs.