The Bank Cannibalism Saga Continues…
In our last blog post, we told you all about the PNC Bank and BBVA merger and what it meant for the world of physician mortgage loans.
As you might recall, PNC will likely get rid of the physician mortgage loans BBVA currently offers. This further reduces the number of affordable home lenders for doctors, which is terrible news.
Just as the ink dries on this merger, there’s another one creating massive seismic waves in the physician loan lending world.
This time the merger is between Ohio-based Huntington Bank and TCF Bank. An unfortunate part of this financial consolidation is that TCF Bank, a name that has been a beloved part of the Twin Cities since the 1930s, will soon fade away forever.
The news was announced on Monday, December 14, 2020.
This financial institution commenced business operations in 1923. Back then, it was known as Twin City Building and Loan Association. In 1986, the company went public and chartered under the name TCF Banking and Savings.
Huntington Bancshares Inc. is combining the two companies to create a top-ten US regional bank under the Huntington name. If regulators approve the reported $22 billion deal, it will be finalized later this year.
Rapidly Dwindling Mortgage Options Due To Mergers
Both banks have had solid physician mortgage loans over the years and have competed against each other in many Midwest states. We, at PhysicianBanks.com, are not quite sure what will become of their financial products. Still, one thing is certain: your choices for physician mortgage financing have dwindled even further.
Unfortunately, banks are cynically using the pandemic to drive mergers and knockout their competition at an alarming rate. If this keeps up, physician mortgage options will see rates and down payment requirements skyrocket into the stratosphere—leaving you with fewer options for home loans.
How PhysiciansBanks.com Can Help
All these rapidly fluctuating changes mean it’s more important than ever to stay up to date on nationwide bank terms and guidelines for physician mortgage loans.
The best way to do that is by visiting PhysicianBanks.com. Here, you can compare low to 0% down, no PMI physician mortgages from dozens of competing banks.
It’s as simple as 1…2…3! All you have to do is to push the big green “Show Me Lenders!” button, select your designation (i.e. MD, DDS, DVM, DPM, etc.), choose your state, and you’ll automatically be given a list of lenders that offer home lending for physicians.
In addition to low to 0% down, and no PMI, your student debt won’t be counted against you. This puts the dream of homeownership in reach of even those just out of medical school
Our expertise lies in simplifying the dizzyingly complex world of home loan mortgage programs for medical professionals. This way, you won’t have to go out and get yourself an MBA degree just so you can make sense of it all.
With all you’ve been through getting your medical degree, you’ve had enough studying for a while.
We know you’re an incredibly busy physician, sacrificing your precious time and energy as you dedicate yourself to your mission of using your keen medical expertise to help heal the planet.
You’ve had to put so much on the back burner as you pursued your dreams to become a medical doctor. You, among all people, deserve to be able to get the home of your dreams at a price you can afford.
That’s why you should seriously consider getting a physician mortgage loan.
It’s one of the perks of being a physician, and it’s well worth your time to learn all the details of this unique financial product.
Contact us today, and we’ll help you achieve your dream of homeownership for less! See your lender options here.