You Can Own a Great “Dog “House of Your Own!
As a doctor of veterinary medicine, many face the same challenges as practitioners in health and dental medicine do. How to finance or become part of a practice, pay for student loans and generate ample income to afford housing purchase requirements are all at the forefront once leaving school.
Whether you’re moving on to residency, internships or finished and making the jump into settling into a community of your choice for work, housing comes to the center need. Many institutional lending sources are not able to provide traditional home loan lending due to the underwriting guidelines they face from government backed loan assurance. As a practicing veterinarian this is not the best news to be dealt when considering a home purchase. Heck, most of the dogs you see every day are home owners in some form or fashion!
Now comes the time that you ask yourself the same question as many in your profession do; Am I destined to live in a rental property until I balance my debt to income ratio? Fortunately for you, the answer is a resounding NO. Whether you are practicing in Florida, Colorado, California, New Jersey or anywhere in between, there are special medical professional mortgage programs that will most likely fit your needs.
You’re passionate about your clients – and their pets. Finding a lender and loan professional that shares the same passion about your home finance requirements is the next step to be taken in getting into a homeownership. Because of today’s technological advances, finding a lender to work with is as simple as an online search. Finding the right lender that is not constrained with lending within a certain state can become the hurdle that keeps you searching.
Often times you may be a newly licensed physician and not diving into a sole practice right away, but are still facing the same debt issues from years of school. You instead chose to join in an existing practice and settle into practice without the headaches of running a full-fledged clinic. Because you’re newly employed and carrying debt, the prospects of going out and buying a home may seem to be out of reach to you. This is not the case as there are lending sources out there who take all of this into consideration by writing loans specific to your veterinarian employment.
The beauty in these home loans is that they also require very little down payment and therefore can maximize your loan to value requirement to make the purchase much more palatable. Competitive rates, standard like terms all come into play with a physician loan.
Home loans for you the veterinarian should not be the same experience you have in reaching into a transport carrier to pull out a frightened and mad feline patient. A good lender won’t hiss, claw or give you paw punches when applying for a home loan.