Hey, so...

Hey, so... looks like we got a new client that wants to buy a home. What's the scoop? Oh yeah. What's the scoop? 32 year old doctor. Just finished training. How much debt do they have and... Looks like let me... Yep, right here.. $500,000 in debt, and $300,000 in income. Right. So we deny the loan. I was actually thinking... I don't know give her one and a $1.5 million. And zero down. Zero down? She has a debt to income ratio almost 2. That's about the riskiest borrower I mean on paper, sure. But she's a doctor. I think we should also drop the mortgage insurance because that'll lower the monthly payment. Right... So we just ignore all of our normal numbers... and analytics don't get the insurance on the very negative net worth person defaulting? yep. Okay. I'll play along. Won't she notice the $9,000 monthly payment on her mortgage? I mean maybe around month three. But by that point she's furnished, the house she's checked out the local schools, and she's probably already told everybody that she's a homeowner, so... Right, so we've made her house-poor... even though she's making $300,000 a year? But that's the magic. She FEELS wealthy even though she's got a net worth of negative $2 million worse than a newborn baby. Okay but, doctors change jobs a lot. So, what happens if she needs to sell the house she has no equity. Great client retention tool, right? Am I right? Don't you think she'd be better off if she just rented for a year to make sure she liked the job first before she bought the house? That's why we give it a name... so it sounds like a you know a big perk instead of just a giant risk something like a "physician home loan." The biggest risk is if she follows Money Meets Medicine and realizes that there's a much better way to go about things financially.