It’s Easier Now for a Doctor, Dentist, or Medical
Professional to Get Mortgage Financing!

Physicians (and other medical & dental professionals) who want to buy a home have more options now than they have ever had. Many lenders have started offering “Doctor Loans” that make it easier for medical professionals to get mortgage financing.

Why? Because the data show that medical professionals tend to be very good credit risks, even though a lot of them start out poor and owing lots of money in m student loan debt.

4 Financing Mistakes Doctors Make When Buying a Home

Physician Loans

For example, you may be able to get these advantages from your lender:

  • Down Payment: Have a 5% or lower down payment and not have to pay private mortgage insurance. (That alone can save you thousands over
    the next 5-10 years you’re in your home.)
  • Move in Before Your New Job Starts: Close on your new home up to 90 days before your employment contract begins. That gives you time to
    move and settle in a bit before you start your job *
  • Less Paperwork: If you own your practice, work as an independent contractor, or you’re in a partnership being paid a K-1, for mortgage lending purposes, that makes you a self-employed borrower and the rules say you need 2 years tax returns. But as a physician mortgage lender, we’re often able to give doctors a little more flexibility and may be able to reduce the amount of documentation you need to supply.
  • Get Jumbo loan financing with less than 20% down payment.

4 Challenges Young
Medical Professionals
Face in Buying a Home
And How to Overcome Them

Physician Loans

Talk to Marie Bjornson — a trusted and experienced lender who specializes in serving medical professionals: 360-676-9600 And don’t wait! The sooner you know you’re approved and what you’re qualified for, the stronger the negotiating position you’ll be in.

* For example, if you are leaving a job in California, have a new job starting in Washington state,
and you want to close on a new home before you start your new job, you will need to use your
employment agreement or offer letter to qualify. No bank anywhere will allow you to use your
current California employment income to qualify for a primary residence in Washington.