Back to Basics: Homeownership 101

Blog posted On August 21, 2025

School is back in session and so is homeownership! We have multiple home loan options and products tailored for students and recent grads. Are you a med school grad? Great! We have something for you! Worried about getting a mortgage with student loans? Don’t worry, we have something for that too! Even if you’re a parent looking for ways to help fund your college-aged kid’s education, we have options for you too. It’s time to go back to basics and step into Homeownership 101. Get ready to take notes!

A Mortgage Option Built for Families of Children with Unique Needs

First off, let’s start with a unique loan program. The Family Opportunity Mortgage can help parents buy a home for their disabled and/or handicapped children that are moving away to pursue college or other educational programs.

This program can help:

• Offer safety & security by providing the child with an accessible home to meet their needs
• Build equity instead of paying rent
• Provide their child with the opportunity to live independently
• Generate rental income by roommates helping pay the mortgage
• Create a future investment property post-graduation

Programs Built for First-Time Homeowners

This time of year brings big transitions for many, like leaving school and transitioning into new careers. If buying your first home is on the horizon, but you’re worried about balancing home affordability with your school loans, we offer loan programs that make homeownership more possible than ever.

• HomeFundIt™ - This down payment gifting platform allows family and friends to contribute to your campaign to offset closing costs
• FHA Loans – Great for first-time buyers, with just 3.5% down and flexible credit requirements
• VA Loans – Used your VA benefits for college? You can also use them to buy a home, with 0% down, no mortgage insurance, and relaxed qualifications
• Down Payment Assistance (DPA) – Many DPA options are available for new home buyers, including state and city-specific programs

A Home Loan Designed for Medical Professionals Starting Out

With MedPro Advantage, newly licensed medical professionals can take advantage of flexible loan terms designed specifically for those entering the field.

Highlights

• 5% down payment
• Loan amounts up to $2M (10% down payment)
• NO private mortgage insurance
• If student loan debt is deferred for more than 12 months, it is not calculated into DTI
• Competitive rates

Who Can Qualify?

• Medical Doctors (MD)
• Doctors of Osteopathy (DO)
• Doctors of Pediatric Medicine (DPM)
• Physician Assistants
• Doctors of Veterinary Medicine (DVM)
• Doctors of Optometry/Ophthalmology
• Doctors of Psychology
• And more!

Parents, You Can Use Your Home Equity to Fund Your Kid’s Education!

Education typically comes with a price tag. However, back to school doesn’t have to mean back into debt. If you’ve built up equity in your home, you may already have the funds you need to help pay for your kid’s college expenses.

With a Home Equity Line of Credit (HELOC), you can:

• Help cover college tuition and expenses
• Reduce or avoid student loan debt for your kid
• Tap into your home’s value without refinancing

Ready to Ace the Homeownership Quiz?

We hope this crash course has helped you assess your choices and decide if you’re ready to embark on the path of becoming a homeowner. If you’ve just graduated and you’re completely overwhelmed by the mortgage process, we can help guide you through it. We can start with a preapproval to see what you’re working with, and we can go from there. Don’t worry, you’re going to pass this homeownership test with flying colors!

Source: NerdWallet, Bankrate