Never have there been so many options for physicians seeking a mortgage. Banks have come out of the woodworks to offer doctor or physician mortgages as they are so often called. In a nutshell, these loans make it easier for doctors to qualify for mortgage financing.
Our team often deals with medical professionals relocating across the country or just simply one state to another to start new employment whether that be completing med school and starting residency, residency to fellowship or practice or from one attending job to another.
I just had a phone call with a client who asked the question: “Josh, we have about 10% to put down and we’re trying to figure out should we wait another year so that we have saved up 20% for a down payment,
Do I need a down payment to purchase a home?
This is a question we get asked quite often by first-time home buyers and the answer is, NO. Many first time homebuyers may qualify for down payment assistance*.
A lot of people think that rising interest rates will result in lower house prices. What they don’t know is prices are determined by supply and demand. While rising rates may slow demand, they also affect supply.
“For current homeowners,