Doctor Mortgage versus a Jumbo Loan

What's the difference between a Doctor Mortgage and a Jumbo Loan?
Well, first off, a jumbo loan is a loan amount that's above the conventional loan limit. These are changing every year, but anything above the conventional loan limit would be considered a jumbo loan. When using a Doctor Mortgage, you can put down typically less than what a jumbo mortgage would require. In addition, there's no mortgage insurance. Whereas, many times with the jumbo loan if you have less than twenty percent down, if that opportunity exists with the the lender that you're comparing with, they may require mortgage insurance. The doctor mortgage does not. Both may have limits in the millions as far as borrowing. For more information and a better comparison of those, please reach out. You can find more information on our website as well, but set up a consultation or shoot us an email. We're happy to help.