New feature will allow members to help update database of physician-only loan terms, ensuring that site's information will remain the freshest and most extensive anywhere, PhysicianBanks.com reports
Springboro, OH -- (SBWIRE) -- 08/27/2014 -- PhysicianBanks.com, a leading online resource for those seeking information about physician-only bank loans, announced the addition to the service of a new feature. By making use of a simple form, registered members will be able to add to and help update the site's database of banks and doctor loan offerings, ensuring that the collection of information will remain as extensive and up-to-date as possible. PhysicanBanks.com was created in order to give visitors a centralized place to research these attractive, but often somewhat obscure, loan options.
"After several years in business helping new physicians around the country discover and understand the many loan options tailored to them," PhysicianBanks.com representative Mark Neal said, "we've improved our service further with a new, member-driven way of adding and updating information. This new feature is going to make our information even more helpful and timely." First offered around ten years ago, physician-only loans, also referred to as "doctor mortgages," are designed to account for the unique circumstances facing those setting out on careers as physicians. Although physicians have among the lowest rates of loan default of any occupation, the usual metrics for credit worthiness can paint them as undesirable debtors, particularly insofar as they typically carry high debt loads from paying for medical school.
Loans specialized to account for these facts therefore allow young, beginning physicians to purchase homes and make other major financially dependent life decisions more easily and with greater flexibility than they would otherwise be able to. A wide variety of national and regional banks now offer physician loans, typically making them available to doctors still within the first decade or less of their careers.
Because virtually all doctors have excellent earnings potential and prospective job security, physician home loans also often come with easier terms than conventional ones, including lower down payments and interest rates. PhysicianBanks.com is one of the most valuable services for those interested in obtaining loans of this type, as it is one of the few that allows them to research and compare specific physician-only loan products from a wide variety of banks across the country. The service has been profiled in such well-known national-scale publications as the Wall Street Journal and is among the most highly regarded of its sort online.
"With a long list of satisfied members already, we are set to grow even further," Neal concluded, "and our new data-updating feature is going to make us even more valuable for present members and those to come." Making use of PhysicianBanks.com requires only a simple registration that is free of charge. Once registered and logged in, new members can easily search for physician-only loan offers in their area through a straightforward system. Thanks to the newly added feature, members can also suggest additions and improvements to the data the service collects.
Providing a wealth of information regarding lender guidelines and loan terms, PhysicianBanks.com serves those researching loan products that are targeted specifically at doctors beginning their careers.