Physician Mortgage Loan Pros and Cons

<p>What are pros and cons of physician mortgage loans? What do you need to know before taking one out, especially during a crazy market and changing rates causing sticker shock?</p> <p>In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks to Doug Crouse, mortgage lender that specializes in physician loans and author of <em>Hippocratic House: Do No Harm When Purchasing Your First Physician Home</em>.</p> <h3><strong>Topics Discussed:</strong></h3> <ul> <li>Advantages: Low down payments, lack of PMI, and new job qualifications</li> <li>House Poor HENRY? Don&rsquo;t go into major debt to keep up with the Joneses</li> <li>Hippocratic House: What to ask/expect as a first-time physician home buyer</li> <li>Disadvantages: Some lenders price their physician loans higher due to upsides</li> <li>Due Diligence: What to consider with lenders&mdash;service, rate, and closing costs</li> <li>Doug&rsquo;s Predictions: Rates will continue to climb but not at same pace</li> <li>ARM: Makes sense if you don&rsquo;t stay in the house and you make enough money</li> </ul> <h3><strong>Links:</strong></h3> <p><a href="https://fred.stlouisfed.org/series/MORTGAGE30US">Historical 30-Year Mortgage Rates</a></p> <p><a href="https://dougcrousephysicianloans.com/">Doug Crouse - Physician Loans at BMO Harris Bank</a></p> <p><a href="https://www.amazon.com/Hippocratic-House-Purchasing-First-Physician/dp/1612062407">Hippocratic House: Do No Harm When Purchasing Your First Physician Home by Doug Crouse (Amazon)</a></p> <p><a href="https://dougcrousephysicianloans.com/hippocratic-house/">Hippocratic House: Do No Harm When Purchasing Your First Physician Home (Free Copy)</a></p> <p><a href="https://www.imdb.com/title/tt1596363/">The Big Short Movie</a></p> <p><a href="https://financeforphysicians.co/contact/">Contact Finance for Physicians</a></p> <p><a href="http://financeforphysicians.co">Finance for Physicians</a></p> <h3><strong>Full Episode Transcript:</strong></h3> <p>Daniel: What's up, everyone? Welcom