BofA Doctor Loan

[NOMONEYDOWN]

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I am starting this thread because of many requests by other members who have questions about BofA's 100% doctor loan. Please reply or ask any questions you may have. I have done many doctor loans during my time as a loan officer

 

[RasputinDO]

Well I can tell you one thing I was kind of frustrated about the BOA Doctor Loan. We could not refinance our current mortgage if it wasn't a current Doctor Loan. We're looking at other options now, but not having much luck. We have a 135,000 house with approx. 117,000 left on our mortgage and would like to try and get 10-20,000 LOC to help pay some credit cards etc. Any suggestions of something like the Doctor Loan and/or companies to try??

 

[NOMONEYDOWN]

Unfortunately you can only refi into a Doctor Loan if you already have one. You are in a tight position right now, and it will be very difficult to find a lender that will give cash out on your house up to 100%. All investors do not want that type of loan because of home values declining.

 

[The White Coat Investor]

This is a soft-sell advertisement by a loan officer who hasn't registered in the "avoid banning thread" above. Please ban him and delete the thread.

 

[NOMONEYDOWN]

I'm sorry ActiveDutyMD. I was simply answering questions about financing. I am now registered. Sorry.

 

[WBDO]

I'm sorry ActiveDutyMD. I was simply answering questions about financing. I am now registered. Sorry.

Don't apologize. Your info was more informative than active's.

 

[The White Coat Investor]

Don't apologize. Your info was more informative than active's.

Nonetheless, forum participants have a right to know what a given poster's conflicts of interest are. And advertisements are banned. Otherwise this forum would be nothing but ads from financial planners hoping to snare docs.