The Doctor Mortgage Loan
Now is the time of year that we have an influx of Buyers who have just been matched for their residency program at the many local hospitals in Greater Cincinnati. Proximity to work is key when searching for housing, as well as simplicity of the loan process. One great feature of the physician loan program is that the resident, fellow, or doctor is able to put less than 20% down (even zero down option!) and still avoid Private Mortgage Insurance (PMI).
Match Day is a term used in the graduate medical community to represent the day when the National Resident Matching Program releases results to applicants seeking residency and fellowship positions in the country.
ADVANTAGES FOR DOCTORS
- No PMI despite a down payment of only 0-10%.
- Special treatment for the student loans.
- Will close before you actually start working.
For more information on this type of loan, contact the lender on this flyer: Doctor Flyer.
OPPORTUNITIES FOR ANYONE SELLING
Another area of opportunity is for homeowners that have a house that may appeal to one of these doctors being relocated to the area. They typically come to Cincinnati briefly and have a short window of time that they need to find housing. This can be an excellent time to sell your home for a great price to a very qualified Buyer. If you are thinking of selling, reach out to the Finn Team to learn more.
- Influx of Buyers who need housing before their start date.
- Highly qualified purchasers for your home.
- Quick and easy process.