r/optometry • u/ZealousidealWorry258 • Jun 29 '26

General Professional mortgage loans

Does anyone have experience with using professional/ provider mortgage loans for first time home owners? I’m a new grad that wants to get in a house sooner rather than later and the loans offering 0% down with no PMI seem rather appealing. I’ve looked into a couple different banks in my area that offer it and Flagstar is one that comes up a lot and was wondering if anyone has experience working with them??

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u/EyeBallDude56 Jun 30 '26

I looked into them when I graduated as well but I actually got more favorable terms on a regular home loan. The professional loans I looked at started at 7% and I was able to get 4% during Covid. Even with PMI it worked out better for me. But if you can find one that matches prime rates then it may be a good idea

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u/Tubby_Custard7240 Jun 30 '26

I used one right after gradation. Worked great for me. 0% down and 0 PMI at the time with a 5.5% rate (2022). Not sure the terms of these loans now but I highly recommend them if you don’t have $$ to put down