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Loan programs
In an effort to attract new doctors, several hospitals and medical groups are offering housing subsidies to recruits. At Kaiser Permanente hospitals throughout Northern California, a program developed last year offers new doctors up to a $100,000 loan to buy a house. If they stick around for 10 years, interest on the loan is forgiven.
Stanford Medical Center allows new physicians to borrow half the value of a house at 3.5 percent interest. Stanford also offers new recruits a $175,000 loan at no interest.
The Palo Alto Medical Foundation is seeking philanthropic seed money for a multimillion-dollar housing fund for doctors in need of home-buying help.
At El Camino Hospital in Mountain View, a second mortgage loan program for new recruits is in the launching stages.