Professional Mortgage Loans for Attorneys, Physician's, CPAs, etc
Hello, I've recently come across a type of mortgage loan called a professional mortgage loan for attorneys, doctors, cpas, etc. As the name suggests, it targets first time home buyers in those particular fields who likely have high amounts of student debt with little cash savings, but good earning potential. The loans usually require very little to no money down, without any PMI, and are usually easier to qualify for. The reason being that, rather than considering the total amount of the debt, the loan provider would instead consider only the monthly payment amount.
Does anyone know of a bank that offers this? My husband and I are looking to buy a house hack as our first home, to help lower our housing expenses, so a multi is key. I know BBVA and Fairway does them but they don’t service NY. Flagstar bank has them in NY but only for SFRs. Or if you can point me in the direction of a great mortgage broker in the LI/NYC area that might have other creative options available, that would be much appreciated as well. Thank you!