Monthly Archives: January 2015

Will I need to pay mortgage insurance on my physician home loan?

There are three different ways borrowers have to pay mortgage insurance. The most common way is the monthly mortgage insurance premium. This typically falls off your loan 10 or 15 years into the loan. Another way to pay the insurance … Continue reading

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What is an annual percentage rate (APR)?

An APR is one of the most misunderstood concepts in mortgage. An APR is your interest rate plus your closing costs related to getting your loan added together and then divided over the term or your mortgage. So if you … Continue reading

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Why are there special loan programs for physicians?

Q: So what gives? Why do banks and underwriters treat doctors and dentists differently than other potential borrowers? A: Lending institutions know that most new physicians’ income will increase dramatically once they complete residency and that they are a low … Continue reading

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Barriers doctors face in getting a home loan

High student loan debt, needing to move before starting a new job, haven’t filed taxes – all these can become issues for physicians who would like to buy a home in residency. One of the many advantages of a doctor … Continue reading

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What is a physician mortgage?

From the NY Times: Heavy student loan debt is often cited as a barrier to homeownership for 25- to 34-year-olds. But many mortgage lenders are eager to extend credit to one category of debt-burdened graduates: those coming out of medical … Continue reading

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