#1
14th May 2016, 04:27 PM
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Bank Of America Physician Loan
I want to apply for Physician Loan of Bank Of America so can you please provide me the details of the loan?
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#2
14th May 2016, 04:28 PM
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Re: Bank Of America Physician Loan
Bank of America is an American multinational banking and financial services corporation headquartered in Charlotte, North Carolina. The Bank was established on October 17, 1904. Bank of America provides its products and services through operating 5,100 banking centers, 16,300 ATMs, call centers, and online and mobile banking platforms. It is the second largest bank holding company in the United States by assets. Bank of America Doctor Loan For residents and licensed, practicing doctors, including dentists and other eligible medical professionals, this home loan offers significant advantages, including: Low down payment options Employment start date up to 60 days after closing allowed Student loan debt may be excluded from total debt calculation Financing for attached or detached single-family residences, PUDs and condos Other loans offered by the bank- Government Loan Programs FHA program - Industry standard credit score requirements Nontraditional credit Higher loan-to-value (LTV) ratios1 Nonoccupant co-borrower Up-front Mortgage Insurance Premium (UFMIP) financed or paid in cash by applicant or seller Monthly Mortgage Insurance Premium (MIP) required VA program - Industry standard credit score requirements Nontraditional credit Up to 100% LTV ratio2 No mortgage insurance (While VA loans do not have mortgage insurance, the borrower is required to pay a VA funding Fee. This fee is typically financed into the loan amount.) Conforming (fixed-rate and Adjustable Rate Mortgage, "ARM") Various down payment options Fixed-rate terms include 15-, 20-, and 30-year options ARMs have 30-year terms and include 3-, 5-, 7- and 10-year fixed-period options3 Nonconforming/jumbo (fixed and ARM) Affordable housing assistance programs |