The title company doesn’t decide which loan you pick, but they’ll need updated paperwork from the lender if you switch. It could cause delays, so be careful with the timing.
Your lender should be able to prequalify you for the 10% down physician loan without waiting for underwriting. If they can’t, it might be worth finding a more experienced lender. PMI isn’t as bad as it used to be, so consider it as an option if the numbers work better with the big bank loan.
Running two loans can confuse the title company and may raise red flags. If you’re leaning toward the physician loan, push for pre-underwriting answers on the 10% option before proceeding.
Thanks for the advice! I’ll press the physician loan lender for clarity on the 10% option and keep the big bank as a backup. Hoping to avoid losing time or money unnecessarily.