We’re talking about some interesting mortgage loan products today. If you’re a professional, listen up.

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I recently spoke with Josh Feldman and Jules Day, two fantastic mortgage lenders who have been nationally recognized for the products they are able to offer to medical professionals and more. I asked them a few important questions and their answers were fantastic.

Sometimes the mortgage process can be daunting and potential borrowers hear about a lot of red tape that’s involved. With the regulations the way they are now, do all banks have the same loan options or are there unique programs out there with certain lenders?

While it’s true that a lot of the available products are based on standard regulations, including conventional loans backed by Fannie Mae or Freddie Mae and government loans like FHA and VA, there are a few unique programs out there. There are a number of profession-driven loans for people such as doctors, dentists, lawyers, teachers, police officers, and more.

There is a large medical community here in the Southeast. How might those programs differ from the standard programs?

It’s important to do your homework beforehand.

No matter what type of loan you’re talking about, the importance of being able to show creditworthiness to your lender is always going to be there. Credit scores, credit history, documentable income, and assets will all need to be taken into account. However, some of these loans offer some great perks. Doctors might be able to get a home for no down payment at all, and they might be able to factor in their student loan debt to their income in order to have more flexibility. Deferred loans may also be considered.

Anybody who is thinking of buying or selling a home needs to do their homework and talk to their lender about all of the different options they have. There is some great information online, but that can become outdated quickly. Each situation is different, which is why having a great lender like Josh or Jules really helps.

If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon!