Why choose Physician Relocation Specialists?

Because Physician Relocation Specialists always put our clients’ interests first. While other companies similar to ours only have the bottom line in mind, we put your interests and the needs of your family first. But don’t take our word for it; review our testimonials page and see what our past clients have to say about working with us to procure the physician loan, find an excellent Realtor, and access exclusive discounts on reliable moving services.

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How does Physician Relocation Specialists make money?

Our physician relocation services are free of charge to our clients. We receive referral fees from the Realtors® in our network.

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This seems too good to be true—what’s the catch?

There is no catch. The lenders we work with offer this great physician loan program because they want you as a customer. Physicians are among the least likely to default on a home loan, they are educated and their income is very likely to increase significantly over the years.

Fortunately, we have figured out a way to run a viable business while keeping our service free to our clientelle of relocating physicians. By asking your Realtor® (whether it is an agent we referred to you, or someone you’re working with already) to pay a referral fee, we have tried to create a win-win solution for all parties involved.

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I’ve already selected a Realtor®, can I still utilize your services?

Absolutely. If a client has already selected an agent, we simply ask that agent to join our network in exchange for a one-time, flat fee. This fee is based on a small percentage of their commission. Your agent only pays this fee if you close a physician loan with the lender we recommend; there is no up-front obligation to your Realtor®.

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What type of loan products do your preferred lenders offer?

Our lenders provide a wide array of loan products that can be tailored to meet your needs. These programs may include 15 and 30 year fixed programs, or 3, 5, 7, and 10-year ARMs—allowing clients to choose the interest rate security they need. They also offer interest-only loans, for clients looking for the lowest possible monthly payment.

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Can you explain what a portfolio loan is?

A portfolio loan is a mortgage loan that is held by a bank as an investment. This type of mortgage is held by that bank rather than being sold on the secondary market. The reason the banks hold this type of mortgage is due to the fact that the loan does not comply with the underwriting guidelines set by the secondary market investors.

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What are the benefits of a portfolio loan?

Underwriting guidelines for a porfolio loan can be far more flexible than for a loan which is being sold to an investor in the secondary markets (Fannie Mae, Freddie Mac …). This flexibility can often mean that the underwriter of the portfolio program can use a much more common sense approach when evaluating things such as credit, debt loads, lack of cash reserves, etc.

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What physician loan interest rates do your lenders offer?

In general, the interest rates on the physician loan programs offered by our lenders are slightly higher than a traditional loan; these higher rates help offset the additional risk the bank takes on when you borrow 100%. Keep in mind that each lender’s loan program is different, and that interest rates change on a daily basis. It is best to discuss details like physician loan interest rates directly with the lender we refer you to.

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Are physician loans exclusive?

No. But realize that physician loans are made available through very few banks and a few credit unions. The loan programs and guidelines vary by institution. Physician Relocation Specialists has relationships with the banks and other institutions that would love to help you. There are other services that prey on your fear, uncertainty, and doubt. Let us help you find the best resources with the best program to meet your needs.

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