Doctor/Physician Mortgages Explained
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- Опубликовано: 28 мар 2021
- In this video The White Coat Investor does a Deep Dive into Doctor/Physician Mortgages, Updated for 2021.
The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you!
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If you are doing residency in your dream location where you have always talked about wanting to live in and are quite confident that's where you want to raise a family and even retire, would you then recommend buying a house and pinching pennies during the 3 years of residency, and be able to live a bit more comfortably once you're an attending? We want the nice house in the great neighborhood for our daughter. Her safety and education are the most important to us
HEY !Dr. Dahle !! Cannot believe there are no comments here !! Crazy ! I Have your book on my desk right now and I am a ER doc too (PGY-3). Thank you for the update ! I am starting to plan the purchase of an starter home in the next year (Middle) so this was helpful ! Hope you are well !!!
Glad you found it helpful. Good luck with the rest of your training!
@@thewhitecoatinvestor Thank you ! I will be in Boston.
This was extremely helpful, thank you!!
Glad to hear that!
Thank you!
You bet!
Thank you! I was about to start my residency and everyone around me suggested that I buy a house (moving to a cheaper city with avg. house prices of 170k USD). Watching your video made me reconsider my decision if it is worth buying only for a 3-year residency, Thanks!
I think that's a wise choice. Glad we helped you out!
Hello Dr.Dahle ,
Do you have to have a certain credit score for a doctor loan -is that waived being that most medical students have maximized credit cards etc ? -Also if you are single and do not have any potential co-signers can you get approval for a doctor loan ?
Approval varies by mortgage provider, but typically they want to see proof of your income - don't necessarily need a cosigner.
So if you're married and about to start a 3 year residency wouldn't that be grounds to buy a home rather than rent? also didnt know you were en ER doc, Im going into EM as well.
You have to own the house long enough for it to appreciate more than what the transaction costs are to buy and sell, and that takes time. Historically, you only come out ahead after owning a house for 3 years 1/3 of the time. You come out ahead 1/2 the time after owning for 5 years.
if you buy a house with a physician mortgage, later convert it to a rental in several years, can you buy another house with a physician mortgage at that time with another lender in several years? Ie have 2 physician mortgages by two lenders?
Yes.
@@thewhitecoatinvestor ty! Appreciate your work man👊🏻
Do you have to be a first time homebuyer?
No
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