Unfortunately the Bank of America doctor loan program has been suspended. So what is your best option now? Well, that mostly depends on what your individual circumstances are.
If you're looking to put as little down as possible, then for the past two years I have recommended the FHA Loan Program to anyone who couldn't utilize the doctor loan program for one reason or another. It only requires 3.5% down and they have once again raised the FHA loan limits, making it available to more borrowers than ever. In fact, I like this program so much that I'm using it to close on my own home next week.
If you have a 15%-20% down payment, then depending on where you live I may be able to assist you with the No Fee Mortgage Plus program or a conventional loan program.
It may seem like it's getting harder to get a mortgage loan. However, it's really not difficult at all if you have just 3.5% to put down. If you are interested in learning more about FHA loans and you live in California, Oregon, Washington, Nevada or Idaho, then email or call me and we can see if it's a good fit for you.
If you have 15% or more to put down, then I have access to loan programs in every state and can assist you with the more conventional loan programs as well.
The doctor loan is gone, but the opportunity to buy houses on the cheap with phenomenally low interest rates is still here! If you'd like to learn more, get in touch and we can discuss your options.
Thank you
Jeff Irving
Mortgage Loan Officer
866-663-5461
jeffirvingmlo@gmail.com
Please note: The Doctor Loan is Suspended...New Applications Are No Longer Allowed
Thursday, March 26, 2009
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