Whether or not our clients are a first time home buyer or purchasing a new home in Medford Massachusetts, our vetted loan officers have a strong understanding of the local area real estate market and what it really takes to secure your physician mortgage with proficiency and know-how.
Our loan officers in Medford Massachusetts offer exclusive financing for doctors, like you.
First and foremost, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are extremely profitable clients for lending institutions. They take out big loans early in their careers and almost always pay them off. Lenders use physician home loans to lock in early career doctors by lending them more money with a lot fewer stipulations than their competition.
Physician Home Loan Experts In Medford Massachusetts
If you are searching for a physician mortgage loan in Medford Massachusetts then you came to the right place.
You’ve worked very hard to become a doctor and buying home shouldn’t 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 specifically for doctors?
Yup, doctors get their own home loan!
A physician home loan is a customized loan program developed just for doctors in the home purchasing process.
We recognize the financial demands of your student loan financial obligation, and how vital it is to maintain working capital for when the time is right with embarking upon your career. Whether or not you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is specifically tailored for your needs.
Quite a few doctors in Medford Massachusetts may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or very little to no work history.
Despite these factors smart financial institutions know that doctors are a good bet considering that they historically have an extremely low nonpayment rate on loans, high earning potential and stable jobs.
Not all lenders offer this specialized product and within banks that do just simply talking to the best mortgage officer makes an enormous difference.
Advantages of Physician Home Mortgage Loans
- Generally does not include student loan regular monthly payments in debt-to-income ratio.
- Requires small to no down payment (0-5 percent).
- Usually does not require private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
- Will accept an agreement as proof of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.
Purchasing a house doesn’t need to drain your savings and the process doesn’t need to drain your time.
Should You Put Cash Down?
Suppose you have some funds to put down or are thinking about delaying until you have the funds?
Our lenders can do the math for you and show you what each situation looks like and the benefits of each too.
In most situations, you’ll get your home mortgage paid off earlier and save thousands of dollars on interest rates too.
Furthermore, don’t forget that having equity in your house will most likely offer more security and flexibility, specifically if something unforeseen happens. With the 100% financed physician 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 need to be prepared to write a potentially sizable check for as much as 10% of the purchase price just to get out of the home.
Whether you’re relocating down the road, across town or across the country, we are available to lend a hand you throughout the physician home mortgage process:: because you deserve it!
Doctors, get the home of your dreams with our Medford Massachusetts physician home mortgage program!
Less than an hour ago, doctors just like you requested a loan from the locations listed below.
