Physician Mortgage Loans
History of The Doctor Mortgage Loan
The physician or doctor mortgage loan came about years ago from Bank of America who realize there was an untapped market for mortgage origination's due to the fact that over 16,000 new students who studied medicine were graduating from medical school each year or from residency. The reason why there was no program is due to the fact that this group of people had little money if any at all left from medical school. However, they were on track to earn large sums of money in the near future and just about all of them would want to become a home owner. Although they didn't have any money to use as a down payment and had large amounts of debt and no proven or track record of income earnings to qualify for a traditional mortgage loan, this was a market that needed to be served.
This is when the banking underwriters created a mortgage loan program for an industry with high income earners in the future. Not only that, but the bank also realized that the default rates were much lower on these loans than the mortgage industry average. Loans are about risks and the likely hood of paying back and paying on time. This brought about the physician mortgage loan or doctor mortgage loan.
What is a Doctor Loan?
Features and Benefits of Physician or Doctor Loans:
- No Down Payment
- Low Down Payment
- No Mortgage Insurance Premiums Required
- Student Loan Payments My Not Be Counted in Ratios
- Gift Money May Be Allowed
- Contract Can Be Used for Income Instead of Paystubs and W2's
- Stated Income Programs
- Low Doc Programs
- Full Doc Programs
Physician Home Loans
Find the perfect physician home loan program for you. We offer Low Doc, No Doc and Full Doc Jumbo Loans up to $5 Million.
We offer just about every type of business loan available to the medical and health profession.
TYPES OF LOANS
PERSONAL MORTGAGE LOANS
SPECIAL LOAN PROGRAMS
Find out how we can help you get the money you need fast.
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The choice is yours or you could pick both options. Either way he have access to the capital needed to finance your desires.