Physician Financial Success Guest Post: Why Physician Home Loans Fail

physician home loans

(I occassionally agree to host guest posts from other bloggers and entrepreneurs in the personal finance space. I met Josh Mettle from my student loan business and discovered his awesome podcast Physician Financial Success. Josh recently interviewed me for the show and I got to speak about early retirement, taking risks, student loan strategies, and more. Josh’s firm helps doctors qualify for alternative mortgage products to buy a house. Remember I recommend no more than two times your combined income for a home purchase or 2.5 times if one spouse is the sole breadwinner. After that, there are plenty of ways to buy a home and I learned something reading this. If you’re a physician listen closely, if not I found it interesting a doctor mortgage even existed. Josh and I have no financial relationship)

In the simplest terms, a physician home loan has more liberal underwriting guidelines, whereas conventional and FHA loans are underwritten to more rigid and inflexible underwriting guidelines. Conventional and FHA loans are rarely the best solution for a young physician in training. Continue reading “Physician Financial Success Guest Post: Why Physician Home Loans Fail”

How Trump’s Implosion Will Affect His Finances

trump's implosion will affect his financesDonald Trump is not even close to being worth “10 BILLION DOLLARS.” In fact, I’ve long held the position that he is running for President to personally enrich himself and to intentionally lose. The key to his strategy is increasing the value of the Trump brand. Unfortunately for him, this strategy took on water after the release of a tape with him making vulgar comments about women. Trump’s implosion will affect his finances, just not completely in the way you might think. Continue reading “How Trump’s Implosion Will Affect His Finances”

Buyer’s Agents Are Not Free, You Pay Dearly For Them

buyer's agents are not free
If only they knew how much they were paying her, maybe they wouldn’t smile so much. Source

I’m in the middle of helping my parents sell my grandmother’s house, which is the first time I’ve ever gotten to see the frustratingly inefficient real estate market up close. I made a Zillow and craigslist page for the home last week and placed a for sale by owner sign out front, but to no avail so far. While it’s only been a week since we put it up online, I’m being advised by many friends in the industry that I need to bite the bullet and list the house on a flat fee MLS service. This allows for home buyers represented by a buyer’s agent to see the home on the list of local homes for sale in the area. However, the real reason I need to list the house on the MLS service is less benign. Despite widespread misinformation, buyer’s agents are not free.  Continue reading “Buyer’s Agents Are Not Free, You Pay Dearly For Them”

Why You Should Not Buy a House in San Francisco

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Home prices in the Bay Area have literally doubled in the past three years. This absurdity has been wrought on us by a combination of a continuation of easy money by the Fed and the biggest private and public market tech bubble since 2000. You should not buy a house in San Francisco unless you enjoy declaring bankruptcy and losing money.  Continue reading “Why You Should Not Buy a House in San Francisco”