Mortgage

[tennreb]

How much is the bank willing to loan a resident on a typical resident's salary? The online mortgage calculators say only about $120k, which won't buy you a shack anywhere near most medical centers. I've heard that banks throw money at future doctors. Anyone here get a mortgage?

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[mshheaddoc]

Moving to the finance forum ...

And usually alot will depend on your credit. The better it is the more you can get. But don't go by the mortgage calculators because you can usually get alot more for it. I know on about $42K you should be able to get a loan for at least $150K or so. If you don't do a doctors loan sometimes you can get more ... but mortgages are a tricky thing since it depends on credit, assets, and location.

 

[Dr.Dicky]

All the places I talked to said 250 with good-great credit, based on my residents salary alone.

 

[mshheaddoc]

what places were you talking to and what is considered good-great credit?

 

[acrunchyfrog]

How much is the bank willing to loan a resident on a typical resident's salary? The online mortgage calculators say only about $120k, which won't buy you a shack anywhere near most medical centers. I've heard that banks throw money at future doctors. Anyone here get a mortgage?

Yes, they do. Because they know you have a statistical likelyhood of making a huge amount of money to give them.