Nov 4, 2009
39
0
0
Albuquerque, NM
Status
Resident [Any Field]
I am starting residency this july and I really want to buy a home and escape the renting money wasting business... does anybody know (have experience) with any lenders that do physician (with bad credit :) loans? anybody heard of:

BBVA Compass Bank?

hit me up please. Thanks
 

epson

7+ Year Member
Dec 12, 2009
11
0
141
Status
Non-Student
WHoa, I would not say renting is throwing money away. There are very tangible things that happen when you buy. What is you transfer from the program? What is you, heaven forbid, get fired or quit. Now you are stuck with a home that you have to sell. Renting may (or may not) be cheaper than buying unless you think about living in the area after you graduate. It is not really throwing money away if you take the difference between your rent and what you would pay in a mortgage aind invest it.

Depending on finances renting may be better or worse than buying but I never look at it as renting is throwing money away. My wife and I rented while she was in residency and bought afterwards when we move to a different city.
 

mig26x

Senior Member
10+ Year Member
15+ Year Member
Apr 15, 2004
1,215
6
241
41
Miami, FL
Status
Attending Physician
I rented during residency and as mentioned above is not wasting your money. Too many variables--> are you going to like the program for 3-4 years? everybody is at risk of been fired from residency training. etc etc.

Now that Im finishing residency training and moving to another state, I always knew I was gonna end up in another state, Im going to buy a house.

Im not saying DONT buy, but keep renting as an option.