Bank of America Physicians Loan Program

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By: Darin "Sid" Cameron, CRS
Thu, Sep 20th, 2007 8:33 am

For any agent that works relocation...

Bank of America has a great physician loan program that we've had two clients use over our primary lending partner.

Kim just met with them to find our more. Basically, for a resident or newer physician, they don't take student loans into consideration when they estimate the debit to income ratios. Since physicians obviously rack up a lot of student loans (often times over $100,000) this can be a huge difference maker in helping them get financing to buy a home.

It's a great program and our intention is to partner with a local loan officer to target the the incoming residences at local medical schools. Although smaller homes and condos, it's nice year relisting business in a couple of years when the residency is over.

Might be worth checking out