Why Physician Home Loans Fail
How to Avoid the Land Mines for a Flawless Home Purchase
This book can be downloaded and read in iBooks on your Mac or iOS device.
AT LAST—A NO B.S. GUIDE FOR PHYSICIANS.
Look behind the curtains of MORTGAGE BANKING, discover the REAL LANDMINES and learn how to make a FLAWLESS HOME PURCHASE.
In the post-meltdown world of mortgage banking, physicians face more challenges and have a higher rate of underwriter decline than any other professional client we advise. It’s shocking but true. Spend a few minutes in physician chat rooms where the topic is “mortgage” and you are likely to read nightmare after nightmare horror story. It’s emotionally devastating to see what a botched home loan and closing can do to a family.
Within these pages, seasoned physician mortgage professional and fourth-generation Utah real estate investor, Josh Mettle, exposes the land mines and provides unique solutions to seamlessly overcome the pitfalls nearly all physicians face.
YOU WILL LEARN:
• How to avoid the landmines that most commonly lead to surprising last minute declines.
• How student loans (including IBR and deferment) affect how you qualify for financing.
• How to find a true mortgage and real estate specialist in your hometown.
• What specifically to look for in a real estate and mortgage advisor.
• A step-by-step guide, which virtually guarantees you a flawless home purchase.
The challenges you’re likely to face are commonplace within your field, but can be embarrassing, expensive, and painful to learn firsthand. There is no bigger disappointment than finding out your loan was declined by an underwriter at the last minute forcing you to scramble to find temporary housing. Avoid that agony by educating yourself with a few simple precautions contained within these pages.
Physician home loans are a “niche” loan practice, which is why you won’t find the information contained in this book anywhere else. When it comes to securing a physician home loan you don’t need a general practitioner, you need a super specialist.
A Must Read for Doctors!
I implore all physicians and dentists to contact your medical and dental schools to demand this book be provided to all graduating medical and dental students. It’s that important!
The home purchase can be one of the most joyous or stressful events of a doctor’s life. A home provides dignity, stability, and relaxation for the oft-overworked physician. Unfortunately, the process for young physicians is often more complicated than for the typical American.
Any health care professional will benefit enormously from Josh Mettle’s analysis. Many in my profession, dentistry, are either self-employed or have 1099 contracts with identical issues and the potential roadblocks physicians face.
The book is written for the young physician either entering residency or starting out into the “real” world of becoming an attending, self-employed, or 1099 doctor. I find that as a 63 year-old, it pertains to all doctors, young or old.
Key points of the book:
• Why credit and income approvals are the first steps in your home purchase process. Preapproval is not enough.
• Why a physician home loan is often the best choice for young physicians.
• How USPhysicianHomeLoans.com and thewhitecoatinvestor.com may become your best friends in the future.
• The importance of working with a Realtor with both physician and family relocation experience.
• The unique challenges residents face with home loans either as a resident or moving into the real world of much higher income.
• The challenges of home purchase for the self-employed or those having 1099 contracts are covered in detail. Many anesthesiologists, dentists, chiropractors, optometrists, and other health care professionals face unique issues.
Doug Carlsen DDS