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Podcast: Financial Residency
Episode: Mortgage Minute - Rate Modifications for Physician Loans
Description: This episode is sponsored by Resolve. A physician contract review and compensation data company bringing change to physician contracts. For 10% off, add FR10 when you sign up! Some banks, including BMO, offer rate modifications for physician loans. What this means is that you can close a loan today with the current market rate, but can later "modify" your loan to a lower rate if rates go down. This option is cheaper than refinancing your loan and does not involve the hassle of getting a new appraisal or providing all the documents to get a new lo...