Benefits of a Physician Loan
- Zero or Low Down Payment 0-10% is typical.
- No Private Mortgage Insurance(PMI) saving you up to 1% annually. That is a $10,000 per year savings on a 1 million dollar home.
- Student loan debt not counted against you. This allows you to qualify for a nicer home.
- Higher loan limits up to 2 million are available typically at the same rate.
- Ability to close 90 days prior to new employment beginning. Moving is stressful enough without starting a new job. Why move twice or pay huge premiums for long term housing.
Whether our clients are a first time home buyer or buying a new home in Fishers Indiana, our vetted loan officers have a solid understanding of the local real estate market and what it really takes to secure your physician home mortgage with proficiency and know-how.
Our loan officers in Fishers Indiana provide exclusive financing for doctors, exactly like you.
First off, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are really profitable customers for lenders. They take out big loans early in their careers and almost always pay them off. Lenders use physician home loans to secure early career doctors by loaning them more money with a lot fewer stipulations than their competitions.
Physician Loan Experts In Fishers Indiana
If you are searching for a physician home loan in Fishers Indiana then you came to the right place.
You’ve worked very hard to become a doctor and purchasing home should not be nearly as difficult.
Did you know there is a special loan that makes it easy for doctors to buy a home?
A home loan just for doctors?
Yup, doctors get their own loan!
A physician mortgage is a customized loan program designed just for doctors in the home buying process.
We understand the economic demands of your student loan liability, and how important it is to preserve working capital for when the time is right with starting your career. Regardless if you are a couple years into practice, or a well established doctor, you can count on us to find a mortgage loan that is exclusively tailored for your needs.
A large number of physicians in Fishers Indiana may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or little to no work history.
Despite these factors smart lending institutions know that doctors are a good bet because they typically have an extremely low nonpayment rate on loans, high earning potential and secure jobs.
Not all financial institutions offer this specialized product and within banking institutions that do just simply talking with the right mortgage officer makes a remarkable difference.
Advantages of Physician Home Mortgage Loans
- Generally does not include student loan regular monthly payments in debt-to-income percentage.
- Requires low to no down payment (0-5 percent).
- Often does not necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
- Will approve an agreement as documentation of future earnings, instead of pay stubs or W-2s, that don’t yet exist.
Purchasing a house doesn’t need to empty your savings and the process doesn’t need to drain your time.
Should You Put Money Down?
What if you have some funds to put down or are looking at waiting until you have the funds?
Our mortgage lenders can do the math for you and show you what each scenario looks like and the advantages of each too.
In most instances, you’ll get your home loan paid off earlier and save thousands of dollars on interest rates too.
Additionally, don’t overlook that having equity in your house will provide more security and flexibility, particularly if something unplanned happens. With the 100% financed physician home mortgage loan, you ought to anticipate to start out under water. If something doesn’t work out and you are forced to sell quickly, you should be prepared to write a potentially sizable check for as much as 10% of the purchase price simply to get out of the house.
Regardless of whether you’re moving down the road, across town or across the country, we are available to help you all throughout the physician home mortgage process:: because you deserve it!
Doctors, get the house of your dreams with our Fishers Indiana physician home mortgage program!
Less than an hour ago, doctors just like you requested a loan from the locations listed below.
