AVAILABLE IN-HOUSE MORTGAGE PROGRAM FOR PHYSICIANS AND MEDICAL PROVIDERS
We spoke with Chris Barlow, Mortgage Lender with Arvest Bank to learn about the ways physicians and other medical providers can enjoy a variety of programs working with personal bankers to find their own financial solutions for life, including a mortgage in-house program.
Q: Does Arvest Bank offer a mortgage in-house program for physicians and medical providers?
If you are planning to purchase a home after graduating from medical or dental school, or if you are a practicing physician who is still paying rent, you may be wondering what your options are when deciding to become a homeowner. You may have considerable levels of debt from medical school costs, and, as a new or established practicing health care provider, you may be under the assumption that home ownership is not easily within reach for you. After all, medical school loans can creep into the six-figure range and substantial debt such as that can take a great deal of time to repay.
So, what are your options? Can you qualify for a home loan in spite of your accumulated debt? Even though you may think it will never be a possibility, the financial experts at Arvest Bank are here to reshape your mindset. Owning a home has myriad benefits and can improve not only your financial portfolio but also your quality of life.
Chris Barlow, Mortgage Lender at Arvest Bank, has just the prescription to set your mind at ease as you begin to navigate the waters that can lead to home ownership.
Through Arvest Bank, practicing physicians are eligible borrowers for the mortgage in-house physician program offered, which defines a physician as any of the following:
- MD – Doctor of Medicine
- DO – Doctor of Osteopathy
- DDS – Doctor of Dental Surgery
- OD – Doctor of Optometry
- DPM – Doctor of Podiatric Medicine
- DMD – Doctor of Medicine in Dentistry
In order to do this, Arvest pairs customers with private bankers who help with all financial aspects, not just mortgage loans.
“We set customers up with a private banker who helps them navigate their monthly expenses,” he stated. “We also assist with commercial loans, such as for a private practice.”
Additionally, Barlow emphasized that Arvest Bank offers many key programs to assist physicians in overcoming debt challenges so they can ultimately purchase a home. Barlow also noted that the mortgage in-house loan program is not just for purchasing a home.
“We offer this for refinancing** options, as well, if you want to take some equity out of your home or just do a simple refinance,” he explained. “The best thing a homebuyer can do is find the house that fits their needs, they can afford for the long-term and accept the current market interest rate with a possibility to refinance later – if the costs make sense. That way they won’t miss out on buying their dream home today.”
For more information on Arvest Bank, visit them online at arvest.com or contact Chris Barlow NMLS#327550 at https://www.arvesthomeloan.com/cbarlow1.html or 913-579-3083.
*Any financing over 100% must be used for taxes, insurance, and other closing costs.**
Arvest Bank is an Equal Housing Lender. Member FDIC.