Physicians Get a Break on Their Mortgages

 With debt accruing at an unforgivable rate for students pursuing careers in the medical field, banks are making mortgage loans more easily attainable to this specific group.  According to the NY Times, down payment for a home is less than 10% for aspiring doctors. No private mortgage insurance is required. This new practice will allow for recent graduates to have a better chance to be approved for a loan, subsequently purchasing their first homes.

Yes it is expensive to send your child to medical school and yes it is tough for the him/her to continue their schooling especially with piling debt. These have always been known issues. However, their is a greater return financially after earning that degree.  Moreover, loosened mortgage loan qualifications means physicians will have an easier time building a comfortable life for themselves and their family sooner.

http://www.nytimes.com/2014/10/12/realestate/mortgages-for-physicians.html?ref=realestate