PROFESSIONAL SERVICES

Financial Services Designed for the Complexity of a Professional Career

The financial needs of a professional, particularly one who is early in a high-income career, carrying substantial student debt, and simultaneously pursuing homeownership and potential practice ownership, do not fit neatly into standard banking and lending products designed for average consumers. Standard mortgage underwriting that penalizes borrowers with high student loan balances will systematically deny financing to the most creditworthy young professionals in the country. Tailored banking and lending solutions designed specifically for professionals can unlock opportunities that standard financial services cannot.

Executive Summary

• Use a professional mortgage program that excludes student debt from DTI calculations rather than applying for standard mortgages.
• Establish a portfolio line of credit to provide flexible liquidity without forcing the sale of investments.
• Work with a lender who specializes in professional practice financing for any practice buy-in or acquisition.
• Consolidate banking into a private banking relationship as income and assets grow to improve service and coordination.
• Evaluate student loan refinancing opportunities periodically for loans not eligible for federal forgiveness programs.
• Inform your private banker of major life and career events proactively so they can provide solutions before the need becomes urgent.

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