For quite some time, BofA had a Doctors loan program that was very popular. It was discontinued a couple of years ago due to the economic conditions. But it is now back. BofA has made available the long sought after Doctors Loan program, or Physicians Loan Program, once again. It also goes by the names Doctors Mortgage, or Physicians Mortgage. The details are a little different now than before.
The main details are that you can purchase up to $894,000 with as little as 5% down with no PMI. You can close on your home up to 60 days prior to your contract start date, which means you can settle in your new home before you start your new position. Also, student loans may not be a factor!
Now, you still have to qualify for the program with things such as credit score, number of years of internship / residency and the like. If for some reason you are not able to qualify, there are many other options as well.
We can help you with a mortgage anywhere around the US, and with our extensive referral network, we can refer you to a quality real estate agent. Please visit our website to find out more or to contact us:
Steven Hong – RE/MAX Associates Plus