Banks are looking to expand their programs aimed at helping doctors, lawyers and others in well-paid professions qualify for large mortgages
The rise of the jumbo-loan market has some lenders stepping up efforts to attract lawyers and doctors as borrowers.
So-called specialty-profession loans, designed to ease the qualification process for people in certain professions, may offer lures such as low—or no—down payments or no mortgage-insurance requirement. “Historically, these loans perform very well and have low default rates,” says Michael Zimov, a physician-specialist officer at Ohio-based Fifth Third Bank. [WSJ]