Our situation: My partner is a fresh dentist hoping to get into ortho school (3 yrs will have no income during the time) starting 1 year from now. She is currently a resident hospital dentist making around 60k. I am employed making 100k w/ a 15% contingent bonus.
We are looking to purchase a house at the location where she attends ortho school (1 year from now). We have 20k saved for a down payment.
We will have the option to utilize a physician loan which requires 0% down and has no pmi but generally has a higher interest rate.
I’m trying to determine if the physician loan would be better since we won’t have 20% down for 9/10 places where we would end up. At what interest rate difference is no pmi generally worth it?
From your experience what have you seen as the average physician loan interest rate given rates will likely go up between now and a year out?
Submitted July 08, 2021 at 07:23PM by xomox2012 https://ift.tt/3hq2V3W
