Doctor loans are loans or loan programs that offer a certain set of benefits and advantages to the physician only. These programs aim to aid the doctors who spend a considerable amount of money and years in college and education to become physicians and serve the society. Like most medical doctors in the first years of their lives Paying Off student loans, these loans can finance the Physician's only option for cars and houses.
Doctor loans are mainly available to Doctors of Optometry (OD), Doctors of Ophthalmology (MD), Doctors of Podiatric Medicine (DPM), Doctor of Osteopathy (DO), Doctors of Dental Science (DDS) and Doctors of Dental Medicine (DMD). Some loan programs are medical residents and medical students in these programs and.
Compared to generic loan programs, under the Physician loans, doctors can avail perks like -
100% financing
Zero down payment
Waved loan insurance
Option for adjustable rates
Low EMI ?
Low credit score requirement
The offers and benefits differ from lender to lender and even state to state.
Most of the funding of a loan to doctors for mortgages and houses.
Physician home loans can offer up to $750000 easily and that also on 100% financing.
In view of the most successful physicians in the United States earn about $ 45,000 per year, low EMI and waved mortgage insurance makes it easier to bear as repayment of a loan, student loan.
Many loans for physician are only available to doctors and that also US citizens.
Credit score is usually 720 or higher.
Re-financing options are not available in all physician loans.
In addition to the above benefits, medical loans also offer additional services, such as doctors, bank draft, bank accounts, free loan counseling and debt management, etc..
Loans for Doctor's come in both the standard 15 and 30 years fixed rates package and the 3/1, 5/1 and 7/1 loans adjustable rates and 30 year repayment period.
Medical loans also do not require private mortgage insurance to home loans and provide underwriting services in detail and.
If you are looking for physician's loans then you can search online for the best deals.
Medical Loans is a prominent financier who offer their services online and by phone and.
Their physician loans extend to students and residents as well.
L c is the "Doctor Lender " Carteret Mortgage Program, including loans to students and residents offer full medical.
An internet search will probably lead you to Doctor Loan USA as well.
They have more strict and only offer loans to doctors who are U.S. citizens or citizens and the letters DDS, MD, DO, DMD, DO, and DPM after their name.
They also require a minimum FICO score of 720 and don't offer refinancing option on their physician loans.
However, they have an excellent reputation.
Among other lenders offering loans, the well known names are Allied Home Mortgage LoansForDoctorsHome.
com, Gulfside mortgage service, Realty First, etc.
Each of these lenders have specialized loan amounts and a doctor can meet your needs.
Author Resource:
Hi my name is John Dobson and I am a physician and have been trading the medical field for the last ten years. I was first introduced to this great loan program when I was a medical student. You can learn more about this by going to physician loans mortgage
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