Financial Residency

Today we're talking about how far to push when it comes to negotiations.

Link:

www.ContractDiagnostics.com

If you are in the process of getting a loan, you typically need to talk to the mortgage loan officer before you make an offer on a house to know if you qualify for the loan.

The quickest way to know if you qualify if you get a Prequalification, which is given by the loan officer based on the information you provide. But sometimes you need to get a Preapproval, which is a loan that has actually been run through underwriting with all of your documentation submitted and reviewed by the bank.

This is especially important if you have a complicated income, live on one of the coasts or are buying in a competitive market.

If you want a free copy of Doug Crouse's book Hippocratic House, you can go to www.DougCrouse.com.

Zoe Cangas is a realtor married to a physician. She has been working with physicians nearly exclusively for 5 years and realized they have unique needs when purchasing a house or moving to a new area.

She created a nationwide network of other physician spouse realtors to help physician families when relocating.

She talks about how her network benefits physician families and how she is still recruiting other physician spouses to join MMP.

You can learn more about Zoe and her network at www.MovingMedicinePartners.com.

Today Jon talks about a hospitalist looking into another hospitalist position. She needed help reviewing the contract for the new position.

Link:

www.ContractDiagnostics.com

So we've got a quick blurb today on visa physicians and what they need to consider as they look at their employment contract and how they've differ than a traditional W2 physician.

Link:

www.ContractDiagnostics.com

Many times a builder will offer a mortgage with huge incentives to use their lender, but does it make financial sense? Oftentimes no. You may get a huge credit, such as $25,000, but if you look at the fees, interest rate and presence of PMI, it may cost you more than a traditional physician loan.

At the end of the day, it's a good bet that nothing is given for free. It's important to ask for the loan estimate so you can compare credits to fees to see what the true offer is.

To learn more about Doug Crouse or to request a free copy of his book Hippocratic House: Do No Harm When Purchasing Your First Physician Home, go to www.DougCrouse.com.

Dr. Davis is a family medicine physician who made the jump to telemedicine before it became widespread. He also is also a coach and helps other physicians explore and sometimes transition to nontraditional or nonclinical careers.

He is the author of "Telemedicine Confidential" and cofounder of NewScript.app which brings physicians together to find rewarding career paths if the more traditional route is no longer fulfilling.

He explores his thoughts on why more physicians are finding themselves burned out and feeling like a cog in the wheel of corporate America.