I am in the process of getting realeased form active duty military service and will be relocating from my home of record to start residency in July 2007.
It seems that most of the residency relocation programs out there require you to either be currently in school or no greater than 9-12 months post graduation. This obviously doesn't work for me since I graduated from medical school over 12 months ago.
I don't have a problem going through a private lender to get a loan due to my good to excellent credit rating. However, my wife and I are planning on buying a home soon and don't want another loan listed on our debt profile.
It is to my understanding that all loans taken out for "educational purposes" such as a federal stafford student loan and such are not factored into the debt to income ratio most lenders use when underwriting mortgages. I would assume that a residency relocation loan would fall under this category. On the other hand, an unsecured signature loan would not.
Is there somebody out there that could offer me some help or suggestions on what to do? Any help would be greatly appreciated.
It seems that most of the residency relocation programs out there require you to either be currently in school or no greater than 9-12 months post graduation. This obviously doesn't work for me since I graduated from medical school over 12 months ago.
I don't have a problem going through a private lender to get a loan due to my good to excellent credit rating. However, my wife and I are planning on buying a home soon and don't want another loan listed on our debt profile.
It is to my understanding that all loans taken out for "educational purposes" such as a federal stafford student loan and such are not factored into the debt to income ratio most lenders use when underwriting mortgages. I would assume that a residency relocation loan would fall under this category. On the other hand, an unsecured signature loan would not.
Is there somebody out there that could offer me some help or suggestions on what to do? Any help would be greatly appreciated.
