Solutions and Services

Here are a few highlights of our “No Problem” physician home loans:

Have massive student loan debt?

No problem! We are able to exclude student debt that is not currently in repayment from your debt to income ratios and even use stipend income to qualify in some cases. We advise you on how to best structure your student loans through income based repayment or deferment to not only qualify but to qualify for higher loan amounts.

Need to move in before you start your new position?

No problem! We work directly with your employer to gather and document your pending employment, thus allowing you to close on the purchase of your new home up to 120 days prior to your first day on the job in some cases.

Have self-employed or 1099 income with less than 12 months history?

No problem! We love self-employed and 1099’d Physicians, and we never require two years job history. If you’re going straight into private practice, joining a group that pays via 1099, or buying into a partnership that doesn’t have a set W-2 wage or set minimum salary, we have a solution for you.

Want to save tens of thousands over the life of your loan?

No problem! With our physician mortgage loans, you DON’T pay monthly mortgage insurance, even with down payments as little as 5%.

Worried about closing costs?

No problem! We can arrange for you to cover your closing costs in your loan, through seller paid closing costs or interest rate adjustment.

From the time you apply for your physician loan, to the big day you sign closing documents and get the keys to your new home, the entire loan process is managed and overseen in our office by our specially trained and experienced staff.

We have a deep understanding of physician’s unique situations, including student loans and new employment contracts. We understand all of the moving pieces and our HIGHLY trained team, loan officers, processors and underwriters have been SPECIFICALLY trained to underwrite and serve physicians and the mortgage solutions we offer.

Nothing leaves our area of control and there are no 3rd parties to worry about. We don’t just double check. We have quadruple checks on closing dates and financing deadlines, which means you close on time and with no surprises.

Yes, we hold true to our slogan, “Say what you do. Do what you say. No surprises!”

close on time

We take responsibility for making sure your loan closes on time and with little effort on your end.

Because we serve over 100 physicians a year, helping them with the purchase or refinance of their new home, we understand the challenges that physicians face. Because we know the process and the issues that are likely to arise, we collect all the information up front that will be needed along the way, reducing the hassle of having to send more and more documentation. We have a deep understanding of the sticking points that physicians face; we address them up front, ask for the correct documentation up front and walk the right path with the loan the first time. We don’t have to circle back, ask for documents we didn’t think we’d need, change directions and otherwise muddy the process. We gather 80 to 90% of the documentation for closing before you even start looking at homes, so that the loan is done right the first time and closes on time.

Yes, we make getting your loan as easy as possible!

we understand each physician Utah

We understand each physician’s unique situation, , including student loans and pending employment contracts. Our loan officers, processors and underwriters have been specifically trained to identify the problems you are likely to face and the solutions you need. Whether you are going into residency, starting a new position, are self-employed, 1099′d or in private practice, we understand the complexities of your situation and know how to select the correct loan program that is right for you.

  • We ask the right questions to find out where you are in your career and or transition.
  • We ask you specific questions about your student loan status, exactly what kind of employment contract you will have and how you are compensated.
  • We talk to you about your timing for closing, your employment start date and when your relocation to Utah needs to occur.

The solutions we prescribe are based on your specific situations and our clear understanding of all the lending land mines surrounding student loans, new employment contracts, low or gifted down payments and loan amounts often above the conforming loan limits.

Yes, we get it!

we provide first class service

We provide first class service to our physician clients. We understand that you have a very heavy work stress load and that adding a complicated mortgage process on top of it all, can be overwhelming. We make getting a physician loan as easy and stress free as humanly possible.

Our specialized physician mortgage products save you time, energy and money. We get virtually all of your documentation up front to save you time, stress and trouble later. This ensures that we have a very clear picture of what your situation is, where you’re going into practice, what your new contract looks like and when you want to be in your new home. Then we deliver excellence in service to get you into your new home exactly as anticipated.

Yes, we deliver!

Yes We Deliver

As your loan works its way through processing, underwriting and towards closing, we keep you and your realtor informed each step of the way.

You will be notified by email at each of the 6 key points of the loan process using our Copyrighted Loan Tracker system. You will know when the loan goes into processing, when the appraisal is back, when the loan goes to underwriting, when it is initially approved by underwriting, when it is cleared to close and when the closing documents are being ordered.

With so much being done by the team, your Loan Officer has time to handle any unexpected issues; such as low appraisals, down payment changes, loan program changes, etc. The efficiency of our team ensures that we are available and able to communicate throughout the physician loan process.

Yes, we are committed to making this an awesome experience!

 


 

Why write a book about mortgage loans for physicians?

For this month’s newsletter, I want to start off with a few pics from our weekend in Newport Beach. We had a fantastic beach day with my father, the kids and near perfect weather. I think anytime you can get 3 generations together for a day of play is pretty special. This day definitely qualified.

A friend who was with us snapped these photos. Too cute, right! I cherish these happy loving moments between Zander and Aria, I’m proud of how they look after each other and I’m glad to have a few photos to commemorate the moment.

Speaking of proud, I just finished up my first book titled “Why Physician Home Loans Fail – How to Avoid the Landmines For a Flawless Home Purchase.” What a riot writing a book was. It took an incredible amount of time, but what a learning experience. The writing process for me is very enjoyable; it’s therapeutic in a way, as it affords you time to organize your thoughts and fully convey all that you have learned and want to teach others. There are few things I enjoy more than a hot cup of coffee and an early morning hour or two to write.

Having just been through the process, it’s fresh on my mind, and if you have ever thought of writing a book, reach out to me. I’d be more than happy to share what I’ve learned.

FinalFrontCover smallThe question I get the most from people is, “Why write a book about mortgage loans for physicians?”

Here’s an excerpt from my book answering that very question.

A few years back I received a call from a panicked client who had Googled “physician home loans Utah” and had found one of my articles. He was a young man who had just finished medical school and was relocating to Utah for his residency at the University of Utah hospital. He was calling me from the road with his family out of earshot and having lunch as they made their way across country. He told me his story: He’d just received a call (while driving) from the loan officer who had preapproved him for his mortgage about a month earlier. The loan officer was “very sorry” to let him know the bank’s underwriter had declined his loan. It turned out the loan officer who had preapproved him had not calculated his deferred student loans into his debt-to-income ratio, even though he had over six figures of outstanding student debt. The underwriters had not made the same mistake; they had picked it up and once a payment was calculated (standard with conventional and FHA guidelines), the loan was declined due to excessive debt-to-income ratios.

He was shocked. They were supposed to close on Thursday and move in before the weekend and now the loan was declined and he was facing the loss of all of his earnest money, and worse, his wife and two young children would be homeless. It was a heart-wrenching story. As a father of two young children myself, I felt his pain and the pressure he was under. The story had a happy ending. It turned out I was able to qualify him on one of our physician programs and his family had their home. It was a bit later than they had hoped, but we were able to extend the settlement date, find temporary housing for a few weeks, and get his loan closed.

Up to this point, I had helped only a handful of physicians, written just a few short articles, and filmed several YouTube videos on what I’d learned and what physicians should be looking out for. It was this event that made me decide I had to expand. We had to launch a website and help more physicians and dentists who otherwise might face the same situation of last-minute decline.

By the next year, we’d launched a website and formally started a physician mortgage department. We’ve been very fortunate to have been able to help a lot of great physician clients. However, I recognize we can’t process everyone’s loan and I thought it was important to get this information in the hands of as many physicians aspiring to have a flawless home purchase experience as possible. I hope that will be the result of your reading this book!

I wrote this to help guide Utah doctors in creating a flawless home purchase. We’d love to get your thoughts about the book, so if you are inclined, please review us on Amazon, iTunes or Barnes and Noble.

If you are interested in getting more information about the book, please visit www.WhyPhysicianHomeLoansFail.com