When do we get an actual contract after match

[psychhopefull2016]

Hi! If I match at my first choice, my husband and I are planning to buy a house. I have been looking into mortgages and such and many say that I need to have a contract in hand and I was just wondering what the timeframe was on that post match day!

Thanks!

---

Members don't see this ad.

 

[HarryMTieboutMD]

Depends on the program. Some people received theirs the day of; mine was a few weeks after.

 

[J ROD]

I was able to get the process started without the contract and provided it later. I believe I got my contract about 4-6 weeks after I matched.

 

[psychhopefull2016]

Thanks guys!

 

[Crayola227]

Often you can just get something from your new employer outlining that you have a position there and how much you're making, if they don't have contracts ready to go out.

There's always a paper contract you have to sign, but they might be able to email you a copy for this purpose ahead of time, or they can write a statement.

Just contact the PC and say you're sorry to bug them but you need something to these effects to pass whatever checks to get a place.

Happens all the time, they know what to do.

 

[psychhopefull2016]

Often you can just get something from your new employer outlining that you have a position there and how much you're making, if they don't have contracts ready to go out.

There's always a paper contract you have to sign, but they might be able to email you a copy for this purpose ahead of time, or they can write a statement.

Just contact the PC and say you're sorry to bug them but you need something to these effects to pass whatever checks to get a place.

Happens all the time, they know what to do.

Cool. My top choice is in a low COL area and I have lots of family around. I am hoping to stay in the area for a long time and will likely consider starting a family in residency so buying is right for us! If we match elsewhere we will have to rent.

 

[prok]

I'm in a similar situation and was told to look at banks that do physician loans. Even if you do a traditional mortgage (physician mortgage rates are a little higher), they're at least familiar with how our whole residency process works.

 

[StrangerFigs]

For the "physician mortgage", I've read that your match letter counts as a contract for the purpose of qualifying for the loan. Also, the blog linked below talks about the loan in general. The author of the blog is generally against the idea of residents buying houses, but there's still lots of useful info! (I will almost certainly be buying a house as well)

http://whitecoatinvestor.com/personal-finance/the-doctor-mortgage-loan/

http://whitecoatinvestor.com/doctor-mortgage-loans-whats-new-in-2015/

 

[Dr. Harambe]

Thinking about buying a house as well if I end up moving!