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Posted for drshrinkwrap- Doctors Loan for an LA Intern

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  • Posted for drshrinkwrap- Doctors Loan for an LA Intern

    Posted for drshrinkwrap whose first post was on another thread.

     
    TOPIC: feasibility of obtaining doctors’ loan for 1st year resident seeking to buy $600K house (LA real estate market)

    A new resident grosses about $4,500/mth.  The monthly expense for a $600K house would be over $3,000 a month.  Parents are willing to help with monthly expenses, but does this debt to income ratio make it impossible to get a physicians’ loan?

     

    First reply from ENT Doc:
    This is a bad idea on several levels.
    Helping those who wear the white coat get a fair shake on Wall Street since 2011

  • #2
    I couldn't have said it better myself.
    A resident should not be buying a 10X income house.

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    • #3
      Are any replies needed beyond what ENT doc already said?

      Comment


      • #4
        Shrinkwrap this idea! No, you won’t get a loan, and thank the banks for not giving you a loan.

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