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Housing loan options
Posted on 1/27/14 at 12:43 pm
Posted on 1/27/14 at 12:43 pm
house. One down side is that the taxes and insurance are in escrow. I think this sounds like a pretty good deal. Am I missing some important details that could be hidden/should ask about? Thanks
This post was edited on 2/20/14 at 10:13 pm
1
Posted on 1/27/14 at 1:52 pm to GeauxTigers777
How are you getting no PMI with only 5% down?
Posted on 1/27/14 at 1:59 pm to TigerDent
Physician Loan. Basically just a perk to try to get you to do business, and hoping you'll remain loyal with money made later in life. Also, a lot of places increase interest rates and don't charge pmi. BoA is at least quoting around market rate and no increased fees.
Posted on 1/27/14 at 2:04 pm to GeauxTigers777
What lender is that physician loan through? I'm not certain if it would apply to me being a dentist (not a real doctor and all) But it sounds worthwhile inquiring about.
Posted on 1/27/14 at 2:31 pm to TigerDent
whitney bank does these types of loans but we charge PMI..the no PMI is a big deal i would make sure that is 100% accurate.
Posted on 1/27/14 at 2:56 pm to TigerDent
Dentist definitely qualify for the loan (have to be within a certain time frame since graduation). By the way I am not falling for the not real doctor. With the changes coming, I might wish I went that route.
Posted on 1/27/14 at 2:57 pm to hawkeye007
It is no PMI. Suntrust, regions, BoA, and probably 4 other banks will do the physician loans with no PMI. Suntrust and regions actually will do 100% loans with no PMI but have higher interest payment and fees.
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