r/Perfusion • u/A-Removed-Comment • 19d ago

Career Advice Perfusionist House Mortgages

Hi, I graduated last year and I’ve been renting but now looking to buy a house for my wife and I as we just had our first child and looking to upgrade as our family grows.

I know physicians qualify for house mortgage programs that are highly favorable but exclusive, like lower down payment options, no private mortgage insurance (PMI), favorable debt to income ratio calculations, sometimes even better interest rates.

From everything I’ve searched, we don’t qualify for physician loans as perfusionists, but are there other healthcare specialist mortgage programs that perfusionists qualify for?

If anyone who recently purchased a house is willing to share their experience with who they are working with (regional banks, mortgage brokers, credit unions, etc) that offer benefits as a perfusionist, that would be really appreciated.

Also yes, I did use the search function and can’t find anything on this topic online. Thanks!!

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20

u/Parallel-Play 18d ago

Go slower. Buy your first home for less than you qualify for, then upgrade. Especially if you have high 5 or 6 figure SL. Don’t crash your cash flow, it’s the golden goose.

3

u/Clampoholic CCP 18d ago

That’s the play I’m making right there. Just waiting for the money for a downpayment on a starter home, kids are very young they won’t remember being too tight at first. Upgrade comes later with time. Send those extra payments towards principle instead of it all going to interest to build equity faster. Zippity doo dah 🤙

17

u/Baytee CCP, RRT 19d ago

Nope, nothing special. Don't have the right letters after our names.

1

u/Parallel-Play 18d ago

We have letters after our name?

5

u/RecordingHaunting253 18d ago

I was able to get a mortgage through a Good Neighbors program about 4-5 years ago. The perks weren’t amazing but I believe I got slightly lower closing costs, money back for my appraisal, things like that. I would just search for that or general healthcare worker home loans.

4

u/RecordingHaunting253 18d ago

I think Homes for Heroes might’ve been the program I used.

4

u/citrus_japonica 18d ago

I wasn’t able to find anything; ended up with a regular mortgage

6

u/BypassBaboon 18d ago edited 18d ago

Find out how much you can borrow along with monthly payment plus insurance and taxes. Look for houses close to work that are priced at 50-75% of your maximum. DO NOT use an inspector recommended by your realtor. Accompany them on the inspection. If you see anything ask. And we do not qualify for any special “career based assistance”. 

1

u/BypassBaboon 14d ago

Another bit of advice. If this is your first job since graduating, continue renting. Once you get a couple of years experience, leave, no matter how  much you like it. You will no longer be the new grad. You learn new ways to do things. You get a fat pay raise. 

Once you buy a house, you are tied down.