Mortgage for a Doctor

[Anonymous]

Any reputable financial institutions offering Zero or Low-down payment mortgage loans for new Doctors/Physicians? relocating from NY.

[Anonymous]

Anonymous wrote:Any reputable financial institutions offering Zero or Low-down payment mortgage loans for new Doctors/Physicians? relocating from NY.

If something like this exists it would be through the hospital or practice that you’re working for. Ask your new employer and don’t hold your breath.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Any reputable financial institutions offering Zero or Low-down payment mortgage loans for new Doctors/Physicians? relocating from NY.

If something like this exists it would be through the hospital or practice that you’re working for. Ask your new employer and don’t hold your breath.

+1. Financial institutions are not going to give go their entire revenue stream for a client because you’re a doctor, unless there’s some strong personal connection there.

[Anonymous]

There.are some special mortgage options for doctors but you are more likely to find out about them from your new employer than on dcum.

[Anonymous]

Doctors get special low cost mortgages?

[Anonymous]

Anonymous wrote:Doctors get special low cost mortgages?

My dad did, 35 years ago in Florida. Even though he had a large amount of medical school debt, banks consider young, newly-minted doctors to be a good risk. He and my mom put $0 down on a house in an upscale golf club community in Naples and received a low interest rate. My mom stayed home and had no family money, so her income wasn’t a factor.

[Anonymous]

Anonymous wrote:Doctors get special low cost mortgages?

They do, or at least used to. Newly minted attendings have large stable incomes but often low savings or high student loans so they got special options.

[Anonymous]

Yes, they do still offer these home loans. I bought in March and got zero downpayment & good terms. LMK if you need a contact. I can share the contact.

[Anonymous]

Truist bank has a zero down program. I think the purchase price cap is in the upper $1M range.

[Anonymous]

There are a bunch of doctor financial/mortgage groups on Facebook. Try that or Reddit for ideas.

[Anonymous]

Anonymous wrote:There are a bunch of doctor financial/mortgage groups on Facebook. Try that or Reddit for ideas.

And whitecoatinvestor.com

[Anonymous]

Anonymous wrote:Truist bank has a zero down program. I think the purchase price cap is in the upper $1M range.

+1

We did this almost a decade ago. Hopefully they still do it.

[Anonymous]

Absolute insanity that doctors get special treatment. They can slum it in apartments until they save for a downpayment like the rest of us.

[Anonymous]

Add Lawyers, Vets, Pharmacists, etc. We offer these. Zero down payment to $1m. below market rates.

[Anonymous]

Anonymous wrote:Absolute insanity that doctors get special treatment. They can slum it in apartments until they save for a downpayment like the rest of us.

It makes sense for the banks. Sorry.