Compass bank mortgage programs

This is great if you want to buy property to build on later. These generous limits allow you to buy anything from a sprawling waterfront lot to a small hobby farm and so much in between.

A lot loan can work well if you are looking to buy land and build on it later down the road. If you already have property or a lot loan for a piece of property , you can apply for a construction-permanent loan.

You can also apply for a construction permanent loan if you are ready to buy land and build a house at the same time. Learn more about this mortgage product here. Many foreign physicians come to the United States with a work visa.

This means they can deliver care in many different positions. The most popular titles include patient care technician, medical assistant, and registered nurse. However, these positions do not necessarily qualify you for a professional loan. And, even if it does, you might find that the foreign national loan product is a better fit. BBVA Compass offers this product in a variety of markets across the country. Both condominiums and single-family homes qualify for the program.

This loan could come in the form of a fixed-rate or adjustable-rate product. In states other than Texas, you will have the option to cash-out and refinance down the road as well. Learn more about this product here. There is no limit to how much you can earn in order to qualify.

However, this loan program puts caps on how much you can borrow. If you feel like you can find a home within the given limit, this program could be a good fit.

Your limit will depend on your income and location. The most appealing thing about the FHA mortgage program is that it offers a low 3.

This government-backed program is also easier to qualify for than a conventional loan. Like FHA loans, these government-backed loans are also easier to qualify for. That is, they require no down payment whatsoever.

That could save you thousands out of pocket. However, the USDA does have income caps. That means, if you earn more than a certain amount, you will not qualify.

However, the USDA does not have a set cap on how much you can borrow. You can find out if you qualify for the USDA program by using their eligibility tool. Despite their low down payment requirements, the extra hoops you have to jump through may disqualify or deter you. However, you should not be so quick to pass up this government program. Only certain active duty and retired service members qualify, along with their spouses.

However, if you do qualify for a VA home loan, you will enjoy some incredible benefits. This makes a VA home loan appealing, even next to a physician loan product.

In certain areas, you may have no problem getting a loan through this program even as a high-income earner. It all depends on where you are shopping.

Learn more about this program here. Buying a home requires research at every stage of the process. However, if you put in the time, you can definitely walk away with a beautiful home that fits your needs. As a physician, you have even more options than the average borrower. Ask them questions and work to understand your options. Here at Curbside Real Estate , we are more than happy to help.

Reach out to us today to get advice and get on the path to your dream home. Our conventional fixed-rate mortages give you the peace of mind knowing your principal and interest payment will not increase based on your loan terms. Additional terms and conditions apply. So whether a new homebuyer or just looking to lower you current interest rate, we have the right fixed-rate loan for you.

Give us a call at and find out how much money you can save! Nationwide Multistate Licensing System Loan originators employed by federally insured or chartered institutions such as Compass Savings Bank must meet all requirements of the federal registration process. No Points Mortgage Loan Dreaming of owning a home?

Lenn--I like Compass because of the leverage. It is true! The special loan programs for physicians still exist but they are limited to less than a handful lenders due to the unique underwriting standards. Compass Bank is one of them. The 2 other most popular options include Physician Loans and SunTrust. I have referred physician clients to Realtors nationwide and they have been pleased primarily because the loan specialists are trained and experienced to work with Physicians and as a result communication is more active which the Realtor enjoy as well.

Thank you Elliot! I appreciate the wonderful things you say. Hello I am an attorney in Texas that was moving to the California area and after being contact by a representative from BBVA about the programs I called immediately to get more information.

Fred sold me on the first call and that weekend I submitted my application online. The process was easy and painless unlike the mortgage I need in the past. This team is amazing! These are the salient aspects of the Drew Daniels Loan Program: 1.

Jumbo loans may required a substantial banking relationship with an opening of additional accounts 3. No PMI 5. A "single" loan, not a combination of two loans. Seller may pay all closing costs and escrow costs there is no "cap" 7. Flexible guidelines for approval of the mortgage loan. Tags: mortgage program for physicians compass bank drew daniels loan program.

Comments 11 Subscribe to Comments Comment. Show All Comments. Harry F. D'Elia III.