Professional Mortgage Products - Thoughts

[Josh Lowenthal]

I checked the forums before posting about this. It looks like the most recent post was over a year ago.

Currently looking to purchase my first home and came across a mortgage product called a "Professional Loan." Effectively this is a $0 Down, 5/1 ARM at 4.25%. There appears to be few restrictions with the product other than you need to open up a bank account with the bank (that's fine).

I've been trying to brainstorm what potential pitfalls might exist with a product like this and wanted to open it up to all of you.