Ideas about how to get mortgage as a per diem?

[anesthesiastaff]

I was wondering if anyone had any ideas or experience with getting a (physician or conventional) mortgage as a per diem. I had a per diem anesthesia job prior to starting a fellowship this past July (I was paid as a per diem but essentially worked full time) and will return to that per diem job when I’m finished fellowship, but we were hoping to buy a house in the next few months. In fellowship I’m only making 60K and I don’t have a contract to show a loan company that will have an expected annual salary. Short of getting a different job with an annual contract or waiting until I have at least a month of salary from my per diem job to show a mortgage company, any ideas on how to get a mortgage as a per diem?

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[IMGASMD]

Need to talk to a loan officer. Different banks will have different requirements. If you have a local credit union, they may actually be more flexible than some of the big banks.

 

[Endee]

Long record of income via pay stubs and bank statements.

 

[anesthesiastaff]

Helpful ideas, thank you

 

[BLADEMDA]

I was wondering if anyone had any ideas or experience with getting a (physician or conventional) mortgage as a per diem. I had a per diem anesthesia job prior to starting a fellowship this past July (I was paid as a per diem but essentially worked full time) and will return to that per diem job when I’m finished fellowship, but we were hoping to buy a house in the next few months. In fellowship I’m only making 60K and I don’t have a contract to show a loan company that will have an expected annual salary. Short of getting a different job with an annual contract or waiting until I have at least a month of salary from my per diem job to show a mortgage company, any ideas on how to get a mortgage as a per diem?

You do have a track record. Since you are resuming your old job post fellowship the income should be the same as pre-fellowship in terms of a loan. Why not set up a meeting (zoom?) with your local bank or credit union for the loan. I do think a smaller bank or credit union is going to be easier to deal with on the local level than a national lending company.

At least the local people will give you advice on how best to qualify for that mortgage.

 

[chessknt]

In my experience the local bank is only effective to deal with if they have some sort of formal loan process in place for physicians. Otherwise a national bank with a physician loan program and a loan officer who is familiar with it is far more likely to get you what you need.

If you have the 20% down and just need a traditional loan then you still would benefit from a physician loan officers knowledge of physician income arrangements including locums.

 

[BLADEMDA]

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[BLADEMDA]

 

[BLADEMDA]