An extra intangible advantage of the physician financial would be the fact the borrowed funds inventor, processor chip and underwriter come in the firm of applying medical practitioner household loans
- Higher loan constraints – Because physician home loan lenders don’t sell the loans to Fannie and Freddie, they don’t have conventional loan limits. Loan limits will vary by location and by lender. Typically you’ll be able to borrow a higher amount with less money down on a physician home loan than you would on a conventional loan.
- Ability to close prior to starting really works – Most conventional mortgage lenders will require that you provide two paycheck stubs in order to qualify. A doctor mortgage will allow you to close the loan even before your new job starts. Some physician home loans will allow you to close as early as 90 days before you start your new job and qualify based on the employment contract or offer letter. Continue reading