What to Know About Mortgage Insurance

If you’re like most people, your greatest concern when buying a home isn’t the monthly mortgage payment. It’s having enough saved for a down payment. Many homebuyers assume you need to have a down payment equal to 20% of the home’s value. That’s not the case. Yes, there are benefits to putting down that large [...]

Home Construction Loans: What to Consider

While some people search for their dream home among a pool of houses already built, others prefer to customize them by building on a specific plot of land. If building your dream home appeals to you, you may want to consider home construction loans. They are designed to help you with home construction financing. Before [...]

Mortgage Payment Breakdown

When you start house hunting, you probably have general thoughts about applying for a mortgage, such as the sale price, down payment, and interest rate. But in the end, it's going to come down to finding a monthly mortgage payment that fits your budget. As a homeowner, it's important to understand what goes into your [...]

How Your Credit Score Is Calculated

You probably hear about credit scores all the time. But how much do you actually know about them? You likely understand the basics of how your credit score works. You pay off your debts on time and your credit score goes up, right? Not exactly. Let’s discuss how you actually get a good credit score [...]

What Types of Properties Can I Buy Using My Physician Loan?

Single Family Detached or Attached, Townhomes, & PUDs As with most questions regarding your physician loan, the answer is, "It depends on the bank's program." If you're buying a single family detached or attached home, then you should have no problem getting a physician loan. Typically, townhomes and PUDs (Planned Unit Developments) are also fine [...]

Can Doctor Loans be used to Buy Condos?

Condos and Doctor Loans Star-crossed lovers or a match made in heaven? Condominium living can be great for folks who love living in community and who don't want to deal with a lot of exterior property maintenance. You simply pay your HOA (Home Owners Association) fees each month, and someone else takes care of your [...]

Which Doctors qualify for a Doctor Loan?

A doctor loan is a special program that banks and mortgage loan companies offer to physicians. So you’ve finally graduated and now have those wonderful letters "DR" in front of your name. Congratulations! Just having those two little letters, however, doesn’t necessarily mean that you qualify for a doctor loan (Sorry, PhDs, but in the [...]