The Ultimate Guide to Doctor Loan Interest Rates
When it comes to finding the right financing options, doctor loan interest rates can be a crucial factor for many medical professionals. With unique financial situations and potential debt from medical school, doctors often benefit from tailored loan products. This guide explores what you need to know about interest rates on doctor loans and how to navigate them effectively. What Are Doctor Loans? Doctor loans, also known as physician loans, are mortgage programs designed specifically for medical professionals. These loans often allow for higher borrowing limits without the need for a large down payment. Unlike traditional mortgages, doctor loans consider the borrower’s future income potential rather than their current earnings. Why Are Doctor Loans Different? Doctor loans differ from regular loans primarily in how they assess income and liability. Lenders often provide these loans with more flexible requirements like: No private mortgage insurance (PMI) : Many doctor...