First National Bank Physician Mortgage Loans

Let’s face it, a medical degree is expensive. In fact, According to the Department of Education, the cost of medical school combined with an undergraduate degree can run between $235,000 and $500,000. Its no surprise that many young doctors enter practice with little more to show for their years of hard work than their medical license and some boxes of macaroni & cheese! For most professionals, a mortgage is unattainable without a 20% down payment, plain and simple. But doctors are different—earning potential and a reputation for quick repayment work in your favor. Because savings are lean (at best), the enticement of a mortgage without a down payment may be especially attractive.

Even if you aren’t specifically looking to obtain a loan with no down payment, shopping around for lenders who specialize in physician mortgages will allow you to choose a bank and terms which suit your specific financial needs. By finding a lender who can help you through the ins and outs of a physician mortgage, you can become fully informed in the various options your career opens up, and reap the rewards you have earned through years of hard work in medical school.