Physicians/Dentists mortgage loans

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WiscoDentist

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Hey all, looking for some thoughts on my current situation.

28 years old, single, no spouse or kids at this time. 2 years out of school, have had the same job since graduating, very happy and do not anticipate leaving any time soon. Annual salary based on previous year's production, currently $275k.

I've been living in an apartment for the last two years but recently I've gotten the itch to buy a house (im just not an apartment lover). So my question is, are phyicians mortgage loans the way to go, or better to go with a tradition 15 or 30 year? I've got $60k in a taxable investment account and about $20k in a high yield savings account. Not looking to spend over $200k (rural, low COL area).

Any thoughts/recommendations would be appreciated

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Whatever gives you the best terms/interest rate. Often the physician mortgages (specific products geared towards physicians) will factor in that you are a physician and give you better terms. If they just looked at your income objectively without that factor your interest rates may be higher. This is more relevant to people just getting out of school since their income may not reflect their true earning capabilities...
 
I thought the physician mortgage was really geared toward residents not really practicing doctors
 
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