The Physician Mortgage Loan, The Ultimate Mortgage Guide For Doctors!

The Physician Mortgage Loan, which is also known as the Doctor Mortgage Loan, is a topic that is of great interest to physicians and doctors. In this video, you will learn about the benefits, drawbacks, costs, qualifications, and where to find physician mortgages. Additionally, the video will explore whether this option is the right one for individuals.
Key Insights 💡
- 💼 The Physician Mortgage Loan offers benefits such as lower down payments and removal of PMI, making it appealing to medical professionals.
- ⚠️ However, potential drawbacks include higher interest rates and limitations on property types like condos.
- 💰 The costs of a physician mortgage loan include principal & interest; however, it is not uncommon for escrow (property taxes & homeowners insurance) to be included in your payment. Also, keep an eye on any HOA fees!
- 🏥 Medical professionals, including physicians, dentists, and vets, qualify for physician mortgage loans, expanding the options for home buying.
- 🔍 It is important to find reputable sources for physician mortgages to ensure legitimacy and avoid misleading offers.
- 🤔 Whether to choose a physician mortgage loan depends on individual circumstances, and comparing options with your advisor is recommended.
Highlights 🕒
0:00 Introduction
1:57 What Are the Benefits of a Physician Mortgage?
5:15 What Are the Drawbacks of a Physician Mortgage?
8:07 What Are the Monthly Costs of a Physician Mortgage?
10:47 Who Qualifies for a Physician Mortgage?
11:19 Where Can You Find a Physician Mortgage?
13:02 Is a Physician Mortgage Right for You?
15:00 Conclusion
📚 Read more here; wealthkeel.com/blog/the-physi...
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Music from Intro Video: Sunburst by Tobu & Itro - bit.ly/2p6JaWw
Disclosures: This information is for general purposes only. This information is not intended to be a substitute for specific professional financial or tax advice, as individual circumstances vary. Please see a financial professional, CPA, and/or an attorney in regards to your own individual situation.

[@samdang8271]

Do Physician Assistants (PA) qualify?

[@WealthKeel]

Yes, but it varies by lender. Flagstar and Regions are two that come to mind for PAs in particular, but I know there are others.

[@ghassanayyad]

Do Pharmacists qualify?

[@WealthKeel]

Yes, it can vary by lender, but many programs do allow pharmacists to qualify 🎉