GlobalPA Posted August 12, 2020 Share Posted August 12, 2020 Anyone out there used one of these big mortgage lenders for healthcare providers? Some of the local banks here in town do the traditional "Physician Loans" but none extending to PAs. Benefits of the loan look pretty nice but too good to be true? In short: - Nothing down - No PMI - Student Loans not included in "debt-to-income" - Low rates (may not matter in this low-rate market?) Thanks! Quote Link to comment Share on other sites More sharing options...
mgriffiths Posted August 12, 2020 Share Posted August 12, 2020 I've looked into it in the past, but the rate was always significantly higher than what I could get through a conventional mortgage with 5% down. Last time I looked it was a 5.5-6% loan vs. 3.625% (what I have now). For me it was just never worth it. I'm actually in the process of refinancing currently and looking at a sub 2.625% loan. Note: these are all 30 year flat rate mortgages Quote Link to comment Share on other sites More sharing options...
MediMike Posted August 13, 2020 Share Posted August 13, 2020 14 hours ago, mgriffiths said: I've looked into it in the past, but the rate was always significantly higher than what I could get through a conventional mortgage with 5% down. Last time I looked it was a 5.5-6% loan vs. 3.625% (what I have now). For me it was just never worth it. I'm actually in the process of refinancing currently and looking at a sub 2.625% loan. Note: these are all 30 year flat rate mortgages Uggggggh. I refi'd at 3.25 about 45 days ago.... Quote Link to comment Share on other sites More sharing options...
ShakaHoo Posted August 13, 2020 Share Posted August 13, 2020 6 hours ago, MediMike said: Uggggggh. I refi'd at 3.25 about 45 days ago.... I refinanced at 3.25% roughly 3 months ago (20 year mortgage). Kicking myself now! Quote Link to comment Share on other sites More sharing options...
mgriffiths Posted August 13, 2020 Share Posted August 13, 2020 (edited) 8 hours ago, MediMike said: Uggggggh. I refi'd at 3.25 about 45 days ago.... 2 hours ago, ShakaHoo said: I refinanced at 3.25% roughly 3 months ago (20 year mortgage). Kicking myself now! Bought the house December 2018 with a 4.75% rate...refinanced Sept/Oct 2019 at 3.625%...now refinancing again...kicking myself for doing the refinance last fall, but who knew a global pandemic would push interest rates at or below average inflation rates...weird world we live in Edit: my father recently refinanced their mortgage to a 15 year at 1.725% ...ludicrous Edited August 13, 2020 by mgriffiths Quote Link to comment Share on other sites More sharing options...
GlobalPA Posted August 13, 2020 Author Share Posted August 13, 2020 22 hours ago, mgriffiths said: I've looked into it in the past, but the rate was always significantly higher than what I could get through a conventional mortgage with 5% down. Last time I looked it was a 5.5-6% loan vs. 3.625% (what I have now). For me it was just never worth it. I'm actually in the process of refinancing currently and looking at a sub 2.625% loan. Note: these are all 30 year flat rate mortgages 2.625%?? That’s incredible on 30 years. Wow. Is that with a national mortgage originator or someone local? Quote Link to comment Share on other sites More sharing options...
mgriffiths Posted August 13, 2020 Share Posted August 13, 2020 1 hour ago, GlobalPA said: 2.625%?? That’s incredible on 30 years. Wow. Is that with a national mortgage originator or someone local? local loan office Quote Link to comment Share on other sites More sharing options...
AbeTheBabe Posted December 20, 2021 Share Posted December 20, 2021 I refinanced a few months ago for 2.75% with no closing costs on a 30 year fixed (600K loan). Local loan broker. Quote Link to comment Share on other sites More sharing options...
sas5814 Posted December 21, 2021 Share Posted December 21, 2021 I did a VA refi when it bottomed out. I got a nothing down 2.75% 30 year note. One of the best benefits I ever got for being a vet. Quote Link to comment Share on other sites More sharing options...
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