You Can Get a Physician Loan, BUT You Need the Right Lender

So you heard about this great thing called a physician loan and you are all in. Your colleague just got one and it sounds like the greatest thing for doctors since sliced bread! Now, what your friend probably didn’t tell you is what they had to do to find that physician loan. You see, not every lender offers them, and while the entire country is covered by one lender or another, the same national bank that offers a loan in Ohio might not in Indiana.

Another issue is that some loan requirements are pretty universal, but each lender also has its own set of prerequisites you need to meet in order to qualify. You need to know things like how they will handle your student loan debt, what their minimum credit score numbers are and if they have down payment restrictions, among other details.

So how do you find the information you need and the right lender for your circumstances?

Do Your Research

There is no shortage of lenders who offer physician loans and there are even websites that can give you financial advice. This doesn’t even touch on the books and podcasts and financial bloggers that seem to pop up daily.

Your first step is to find a lender that works in the area you want to live in. Preferably, you should do this BEFORE you go looking for a home. You’ll want to be pre-approved for a specific maximum loan amount before you fall in love with a house that’s out of your price range.

You also want a lender that can handle your specific financial considerations. Several things can impact your loan status.

  • Is someone gifting you money for a downpayment?
  • Is your credit score less than good?
  • Has your employment contract not started yet?
  • Are your student loans in deferment?

All of these questions and more need to be addressed with a prospective lender.

Sounds like a lot of work, doesn’t it? And this is all before you find a realtor and start the house-hunting process. There has to be a better way.

The Better Way

Wouldn’t it be great if there were people out there that could help you navigate the whole process? From finding a lender to finding a realtor and more? The good news is that there is. Here at Curbside Real Estate, we can help you survive this process. Our streamlined system goes something like this.

1. Find a loan. With a network of lenders with pre-negotiated rates, you’ll easily be matched with the right loan product that works for you and your special needs. These lenders also work around your schedule, leaving you more time for personal and professional commitments.

2. Find a real estate agent. You don’t have time to find and vet agents. Here, that’s been done for you. All the agents in the network are experienced professionals that understand that your time is valuable. They will help you find just the right property for you and your family.

3. Get personal support. Buying a home, especially if it’s your first time, can be a scary and stressful process. With personalized concierge service, you will have someone to talk to and get your questions answered.

4. Move in.

Now doesn’t that sound better?

When you’re ready, give us a call. We’ll be happy to go over all the details and show you how you can get the home of your dreams and the right loan to go along with it.