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Physician loan - still possible if not husband's first home?

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  • Physician loan - still possible if not husband's first home?

    I understand the Physician loan as mortgage with a much reduced down payment requirement. I'm recently married and my husband (non-physician) is considering purchasing a modest first home and paying cash. Is it still possible for me (a physician) to qualify for a physician loan a few years from now?

  • #2
    It would likely depend on the circumstances. I bought a home in residency and then sold that home and bought another home as I started my first post residency job (I had not found WCI at the time). Both were physician mortgages.

    If you are buying a second home I don't think most physician mortgages allow that. If have sold your first home and are buying another, I expect that a physician loan would be an option (I am not sure it would be the best option).

    edit: When I said second home I meant having two homes at the same time.
    Last edited by Gamma Knives; 09-09-2020, 08:29 AM.

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    • #3
      Is there some sort of requirement for it to be your first home? I have not seen that.

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      • #4
        Originally posted by NueroSurge View Post
        Is it still possible for me (a physician) to qualify for a physician loan a few years from now?
        Yes

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        • #5
          Thanks, although we're married it seems my husband can be the stole person on the home title and mortgage - allowing me to still qualify for the physician loan

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          • #6
            I don't think it matters whether it's your first home. Or whether you currently own any other homes. You just need to be a physician, buy a home to live in as your primary residence, and qualify for the loan.

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