What is Private Mortgage Insurance PMI? How to avoid it. PMI Mortgage Insurance and the Physician Mortgage Loan Program.WHAT IS PMI? PMI (private mortgage insurance) is normally part of any mortgage loan if the buyer has less than 20% equity in the home. For those new to the home buying
Impact of Rates on Mortgage Payment With the Federal Reserve indicating they are ready to increase interest rates, it’s time to take a serious look at your loan options, if you are considering a home purchase in 2017. Rising interest rates increase the cost of housing and can impact the
Lets talk Seller Concessions on Physician Loans You have the money to buy a new home, however it would be nice to not have to drain your savings. The good news is; the seller can help with your cost to do a loan, which can be significant. Although you will
Should I pay Points or No Points? Many lenders offer loans with and without an origination point. Before deciding whether or note to pay this point, you must consider two things: How long do you plan to own the property? What is my recapture period? A recapture period is the
Mortgage Rates, The Election and The New Year Without getting too political I think it’s safe to say that was one of the craziest campaign seasons and elections our country has ever seen. It also ended with probably one of the biggest upsets ever and the markets weren’t sure how
Renovation Loans: Are they available? Want to buy a fixer upper? Are you looking for a home and can’t find something that specifically meets your needs or you find a home that has some obvious work that needs to be done? You will need to address this up front with
Managing Student Loans Managing Student Loans and Payment Options As any medical professional knows, Student loan payments can be very high . This may impact the price range of home you are able to qualify for. Due to the large number of students who struggle with student loan debt, there
What Makes a Loan Pre-Approval? Understanding Loan Approval Amounts At the start of a home search, one of the most pressing questions on the minds of borrowers is how much can I be approved for? While it is a simple and straightforward question, the answer can be very convoluted, leading
FAQ on Doctor Loans Frequently Asked Questions Q: What are the benefits of a “Doctor’s Loan?” A: The Doctor Loan requires No Down Payment with No Mortgage Insurance. In addition, the Residents and Fellows deferred student loans do not count towards the debt ratio. Q: Who qualifies for the Doctor
Self-Employment and Buying a New Home. Self-employed? You’ve chosen a path which gives you the flexibility to determine your style and momentum of doing business – there is no doubt about the excitement in this. Being self-employed also comes with a different fiscal responsibility.There are many blogs and articles out
