You will find that when it comes to buying homes different professionals will have different buying modes. When it comes to and leaving one of the most exciting things is to buy your own house.
There are no high-interest rates when it comes to mortgages for doctors. This is because these mortgage loans are specialized in such a way they offer zero or little down payment.
When it comes to lending loans the banks will do this according to the doctor’s employment contract.
One of the advantages of mortgages for doctors is that they are not weighty as compared to student loan debt.
It is important to understand that many financial institutions have opened great opportunities for doctors to take loans or mortgages.
Doctors can take different options for a mortgage from SunTrust Bank. The bank can offer 95% financing for doctors that are practicing which is up to 1 million dollars. You can choose a fixed or an adjustable rate.
In addition to the 95% financing, the bank can offer a $750000 loan which the bank does not care whether you are a resident or an intern. For any individual in the medical industry, they can be able to get coverage from the bank. This means the bank has loans for nurses and other specialists.
Bb&t bank is also another financial institution that offers doctors mortgages . Only those doctors that are practicing medicine can get the mortgage loan from this Bank. In addition to practicing, you are expected to have existed a residency 10 years ago and get recommendations from your colleagues .
When you have all the requirements you can get 95% financing from the bank. To get the financing you don’t require private mortgage insurance. View here for more information on loans for nurses.
The Bank of America also offers mortgage loans to doctors. You can get a variety of home mortgages from this bank since it has a wide range of options. As a doctor you are required to have a credit score of 720 or beyond so that you access this mortgage loan. You are also required to have a savings or our checking account from the bank.You should be ready to make a 5% down payment from your funds for the home you want to purchase. Click here to see the rates of loans for nurses in the Bank of America.
It is important that you consider the highlighted banks and their requirements so that you can get the mortgage loan that you want. Loans are important but it is essential that you take precautions on what you getting involved in so that they may not bind you. Learn more about mortgages for doctors on this website.