Doctor’s Rounds™

*The views expressed by the authors below do not represent the views or opinions of MD Preferred Services.


Zero-Down Mortgage for Doctors

Tuesday, September 12, 2017

Gin Albanese | Luxury Residential & Commercial Real Estate | [email protected]
 
Medical professionals may be eligible for a mortgage up to $750,000 without a down payment or private mortgage insurance needed.
 
PhysicianLoans, an Ohio-based mortgage lender offers “Doctor Loan” to medical doctors, dentists, and veterinarians. The company lends in 18 states, including Georgia, Michigan, Minnesota, Pennsylvania, Ohio, Texas, and Wisconsin, among others.
 
“Today’s young doctors would like to both pay down their debt and buy a home,” says Tal Frank, PhysicianLoans president. “While a post-residency doctor making six figures has the cash flow for both, they do not yet have the down payment required by a traditional bank.”
 
“Doctors completing their training now have to pay more for a home than they did five years ago, which would translate to an even higher down payment with traditional banks,” Frank added. PhysicianLoans has offered zero-down loans for doctors previously but increasing the loan amount to $750,000 helping more homes in reach for new doctors who recently completed training.
 
Source: http://realtormag.realtor.org/daily-news/2017/09/08/zero-down-mortgage-offered-for-doctors  READ MORE

 

Why you should look at a Doctor Loan

Friday, August 25, 2017

Doctor Loan, Physician Mortgage, Home loans for Doctors, 100% Doctor Mortgage, No Money down for Doctors…
 
They can be referred to by many names but they all have one thing in common: these special loans are out there specifically for doctors to buy homes. There are several banks that offer this mortgage and the common theme is little to no down payment and no mortgage insurance. These banks realized there was a need to create a product to assist new doctors that are fresh out of school because most of them are burdened with student loans and have no down payment. What the new doctors do have though is high income potential and very good job security so the odds of them defaulting on their mortgage are very low.
 
There are other first time home buyer loans available that allow you to buy a home with little to no money down; however, most of them require you to pay up front mortgage insurance, monthly mortgage insurance, a higher rate or in some cases all three. Mortgage Insurance is basically insurance that protects the bank.  Banks require this insurance because typically buyers with little to no money down are more likely to default on their mortgage making them higher risk for the bank.  The insurance money pool helps banks offset losses in cases of foreclosures.
 
There are additional benefits with the doctor loan that vary from bank to bank and one of our MD Preferred partners that specialize in these loans can tell you more. Some of the common advantages include higher loan amounts, as much as 100% financing to $750,000, and loan amounts over a million with as little as 10% down. As previously mentioned, there are several banks that offer these products; in spite of this, there are relatively few loan officers that specialize in these products and those are the loan officers that we want to connect you with.  After all, you don’t want to talk to a podiatrist if you’re having trouble breathing.    READ MORE

 

Everything today is digital. Why would I need a loan officer?

Tuesday, August 15, 2017

You’ve probably seen the ads promising online mortgages in a flash. Sounds good, because who isn’t busy these days? But wait. Would you buy your next car in a flash? Imagine filling out a form on a website, taking the car presented to you without being offered any options, and paying whatever the dealer asked?

Most people probably aren’t in that much of a hurry to purchase a new vehicle, never mind a long-term commitment to pay up to $150,000 or more. I can testify that many homebuyers have had safer, less stressful experiences when teaming up with a mortgage loan professional. Here are six reasons to consider working with a loan officer that lives and works in the same community you do:  READ MORE

 

Physicians Choice: Term Insurance or Whole Life

Thursday, August 03, 2017

Doug Mitchell, CLU
Ogletree Financial Services, LLC


Most physicians take good care of themselves. Knowing how important it is to be healthy and setting the example for their patients leads them to be clear examples of how to take care of oneself. However, it’s always a convenient precaution to assure our beloved ones a stable future, and the best way to fulfil this is by buying a life insurance policy just in case. 

Buying a life insurance policy is surely one of the most important decisions people can make in their financial lives. Whether you have some knowledge of Term Insurance and Whole Life Insurance or not, deciding is never an easy task since it requires careful consideration of your needs, concerns and priorities. 

Once the decision is finally made, it brings a sense of relief and comfort to most people, sadly, this is not an everlasting feeling. It will only last until they have to face the agonizing process of deciding which kind of life insurance to buy.  
Regarding life insurance, the amount of different options can make this process a bit daunting and overwhelming, however, proper recommendations and tips will help you choose right.  READ MORE

 

MD Preferred referenced on Physician Relocation in PracticeLink Magazine

Tuesday, July 25, 2017

The Summer issue of PracticeLink Magazine is out and with it comes an extremely helpful article on Physician Relocation.  Contained in that article are quotes from Senior VP, Ron Davis, and references to MD Preferred Services.  

Take a few minutes and check it out!




  READ MORE

 

Using Term Insurance for Business Continuation

Monday, May 22, 2017

For any medical practitioner, having a business continuation plan can make the difference of whether your business survives the death of a key person, partner, or owner. Most small medical practices are owned by a single owner or a partnership. Regretfully, medical practitioners die unexpectedly, and for unforeseen reasons, just like anyone else so it makes excellent financial sense to provide a defined business continuation plan that includes key-person insurance to ensure the survival of the business if the worst should happen. There are various ways to accomplish this, all of which can be funded with affordable term life insurance.  READ MORE

 

Two Critical Items to Address while in Training

Wednesday, May 10, 2017

Mosaic Financial Associates
www.mosaicfa.com


We’ve had thousands of conversations over the past 20 years with clients and attendees of the many resentations hosted for residency and fellowship programs. Universally the question is asked, “What are the things I should do while in training?” Generally, resources are the primary factor in whether people are able to execute these items.  However, if someone does have the resources, they should strongly consider the following two strategies.  READ MORE

 

The Top 5 Mistakes Doctors Make

Monday, April 24, 2017

Over the past 20 years or so, we’ve observed doctors making numerous mistakes at all stages of theircareer. We have taken our observations, as well as enlightening discussions with well-established doctors, and compiled this list of critical errors. Our hope in providing this list is to continue our mission of helping doctors and their families grow their net worth tax-efficiently while minimizing exposure to litigation.  READ MORE

 

How to get more out of Public Service Loan Forgiveness

Wednesday, April 05, 2017



In our experience, few physicians understand how to take full advantage of the opportunities afforded them through PSLF (Public Service Loan Forgiveness), which could cost them upwards of $20,000-$40,000 per year depending on the amount, type of debt and personal circumstances.

On average new physician client begins medical residency with a staggering $250,000 of medical school debt (range of $0-$400,000). This is occurring during a time when how physicians are employed and the incomes they earn, are in flux2
  
The first step for a graduating student is to learn how to navigate and understand the government programs for loan forgiveness. There are several options to choose from but each requires an understanding of your distinct circumstances. It is not a simple decision as life changes.

Here are some considerations:  READ MORE

 

Role of Nurse Practitioners on the Rise

Monday, April 03, 2017

This article brought to you by NP PA Recruiters

With the growing need of health care providers, the demand for nurse practitioners is dramatically increasing.  According to the American Association of Nurse Practitioners website, there has been an increase of over 140,000 NP’s becoming licensed since 2001.  Even at this substantial number, a continual annual increase will bring that total to 222,000 by 2025!

Opportunities are definitely on the rise for any individual seeking to join the medical field.  Numbers don’t lie and NP PA Recruiters can help make sure those odds are in your favor by helping you find the perfect opportunity to get you started on your career.  READ MORE