Ep. 017 – W – Physician Mortgages, What They Are, and Why You Should use Them When Purchasing Your Home.

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Josh Mettle – Fairway Mortgage Group head of Physician lending.  

 

Some of the topics we will be exploring in this podcast are:

 

Renting vs. Buying in Medical School/Residency/Fellowship from a person who has done thousands of home loans.

 

The problems with the way big banks underwrite physician home buyers.  

 

The problem with just having a pre-approval letter as a physician with student loans.  

 

The problem with 1099 independent contractor income when trying to qualify for a mortgage from a traditional bank.  

 

Why the current loan underwriting process creates a disadvantage for many physicians in a competitive real estate market.  

 

Why going with a traditional mortgage broker or lender in today’s real estate market could cause you to lose out on your dream home.

 

Get Josh’s Book – Why Physician Home Loans Fail: How to Avoid the Landmines for a flawless home purchase.

In this episode you will Learn:

 

Why having a physician home loan can give you an advantage when making offers on your home.

 

How Josh’s company is able to offer his clients and 17 day guarantee to close when they are making an offer on a home.

 

What are the basics of a physician loan. – Also used for dentists, veterinarians, and CRNAs.

 

How to get higher loan to value ratios with as low as 5% down up to a million dollars or 3% down for 400-500K loans with no PMI (private mortgage insurance).

 

Why you should consider putting less money down on your personal residence home loan.

 

What is the process of qualifying for a mortgage, what documents are needed and when.

 

Why Condos can be very tricky to purchase, and why you need an expert to help guide you through the landmines of getting a mortgage on one.

 

Why you must do your own due diligence on a condominium’s home owner’s association (HOA) before you look to buy.

 

What you should be looking for in a physician lender.

 

The big mistakes you can make in choosing a realtor to find your home.

 

The truth about on-line real estate sites and how using them can put you at a disadvantage in your home buying experience.

 

You can listen to Josh’s Podcast here:

https://itunes.apple.com/us/podcast/eric-tait-md-mba-vernonville-com/id840402872?i=1000344962884&mt=2

 

www.Fairwayphysicianhomeloans.com

 

Blog: http://fairwayphysicianhomeloans.com/blog/

Ebook: www.fairwayphysicianloans.com

Facebook:  https://www.facebook.com/docmtg/

 

 

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About the author, Eric

Physician|Investor|Author|Speaker

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