Where to Get Physician Mortgage Loans
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What is a Physician Mortgage Loan?
Physician mortgage loans are home loans that are designed to meet the needs of physicians that are just starting out. New physicians typically graduate college with a substantial amount of debt, making it hard for them to qualify for loans. Physician mortgage loans are typically easier to qualify for because the lender takes into consideration the amount of money a physician will make once he or she graduates.
Professional Mortgage Loans from First Bank
First Bank offers professional mortgage loans for physicians looking to purchase a primary homes, details include:
- No mortgage insurance required
- No down payment required
- Prepay your loan under no penalty
- Seller contributions or gift funds of up to 3% of the purchase price may be used for closing costs
- Maximum of 100% loan-to-value for purchase of primary home
For more information on physician mortgage loans, talk with with a First Bank mortgage loan officer.
Physician Mortgage Loans — Apply Today
First Bank offers two convenient ways for physicians to get mortgage loans. You can use our online application to apply for a loan. That means you don’t have to leave your own home to apply for a professional loan. Just gather your financial and property information and easily complete the application.
Or visit one of our 100 plus locations throughout the Carolinas.
Loans subject to credit approval.
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Sources:
NY Times: http://www.nytimes.com/2014/10/12/realestate/mortgages-for-physicians.html?_r=0
Investopedia: http://www.investopedia.com/terms/a/amortization.asp
