Personal Finance Skills:
Physician loans are available today. Unfortunately, physicians take few formal courses in personal finance during their training in medical school, residency, or fellowship which more or less immerses them in the sheltered world of medicine for seven or more years. After graduating and completing training, physicians are saddled with significant debt along with a six-figure income. Many physicians are not aware that a physician loan program exists to help them purchase their first home. Our goal: inform physicians about options that exist when they complete the various phases of their training and help them make prudent, educated decisions.
Physician Loan Options:
We you aware (with either an MD, DO, DDS, DMD, DPM), physicians have access to special mortgage financing? This special financing allows physicians to purchase homes without a 20% downpayment AND avoids paying private mortgage insurance (PMI). In fact, Bank of America’s program allows them to purchase new homes with only 5% down.
The team we recommend at Bank of America has helped thousands of physicians and their families purchase homes. They understand the time constraints physicians face and strive to make the process go as smoothly as possible. Apply online with The Ehlers Team at http://mortgage.bankofamerica.com/theehlersteam.