As a physician, your busy schedule may leave scant time to research home building and financing options. Specialized financing programs for professionals, such as physicians, may provide a more streamlined process to save you time while building the home you want. Keep the following options in mind when evaluating the best approach for you.
This is an important step to securing the right financing. Every borrower is different, and a mortgage loan officer will know questions to ask in order to best match you with the right financing option.
Before you begin the home building process, receiving prequalification allows you to focus on options in your price range. A mortgage lender will run the numbers for you and give you the terms of a potential loan.
A specialized physician program could include other features, such as interest-only payments during construction for a specific period of time. Another option could be a fixed interest rate at inception and during the construction period.
