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Like every other crazed fourth year med student on this site, I am thinking ahead to starting intership and was hoping some more experienced people could lend some advice.
How difficult is it to buy a place as a new intern? I am graduating with an atrocious student loan debt (>200,000) but fortunately no other debts (no car, credit card, etc. loans) I am single, so I will have to do this totally on my intern salary, and unless I can do some creative maneuvers, I probably won't have much to anything put away for a down payment. I had heard rumblings of low/no down payment options and even special low-rate mortgages for first time buyers and/or new physicians, but don't know how the details of this work or how feasible these are in reality. Also, I know my home program often has special real estate connections that they will coordinate with incoming residents, and will also often try to sell graduating residents' homes to the new crop of interns, but do other programs help with this as well?
Any input would be appreciated! Thanks
How difficult is it to buy a place as a new intern? I am graduating with an atrocious student loan debt (>200,000) but fortunately no other debts (no car, credit card, etc. loans) I am single, so I will have to do this totally on my intern salary, and unless I can do some creative maneuvers, I probably won't have much to anything put away for a down payment. I had heard rumblings of low/no down payment options and even special low-rate mortgages for first time buyers and/or new physicians, but don't know how the details of this work or how feasible these are in reality. Also, I know my home program often has special real estate connections that they will coordinate with incoming residents, and will also often try to sell graduating residents' homes to the new crop of interns, but do other programs help with this as well?
Any input would be appreciated! Thanks