Any Banking Promotions From the Big US Banks For Medical Students/Residents/Doctors?

[qszwdxefc]

Currently doing residency in Canada and most big Canadian banks offer free premium checking accounts/credit cards/large lines of credit for medical professionals/students. Just wondering if any of the big US banks (chase, citi, etc) offer anything similar? And in case you're wondering yes I do have SSN/US address/US credit history

---

Members don't see this ad.

 

[jurassicpark]

Certain banks, BofA I think is one of them do "Doctor Loans." Those are large loans often for first home purchases with very low interest rates and no PMI with low-down payment. I used it on my home and got a crazy good rate (for the time).

 

[darknecrosforte]

My current experience in the midwest is that the Physician Loan program requires:

1. Credit score above 680
2. Training program contract listing your salary
3. Previous tax returns if you want to boost the pre-approval mortgage amount (necessary for high cost areas like Los Angeles, San Francisco, NYC, etc.)

The program boasts that you can put $0 down, requires no mortgage insurance (PMI), have up to 47% debt-to-income ratio and qualify, and does not count deferred student debt in calculating the amount of debt you have.

I'm getting 3.125% APY fixed for 7 years, then 23 years of variable where the capped rate is 7.125%. My training program is 3 years and I will likely have converted this house into a rental, refinanced on the rehabbed value (getting rid of that variable rate), and bought a second house nearby to repeat the process.

 

[qszwdxefc]

Certain banks, BofA I think is one of them do "Doctor Loans." Those are large loans often for first home purchases with very low interest rates and no PMI with low-down payment. I used it on my home and got a crazy good rate (for the time).

My current experience in the midwest is that the Physician Loan program requires:

1. Credit score above 680
2. Training program contract listing your salary
3. Previous tax returns if you want to boost the pre-approval mortgage amount (necessary for high cost areas like Los Angeles, San Francisco, NYC, etc.)

The program boasts that you can put $0 down, requires no mortgage insurance (PMI), have up to 47% debt-to-income ratio and qualify, and does not count deferred student debt in calculating the amount of debt you have.

I'm getting 3.125% APY fixed for 7 years, then 23 years of variable where the capped rate is 7.125%. My training program is 3 years and I will likely have converted this house into a rental, refinanced on the rehabbed value (getting rid of that variable rate), and bought a second house nearby to repeat the process.

Ah interesting, thanks for the responses. Are there any non-loan promotions such as free premium checking accounts?