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.
Regardless of whether you are a first time home buyer or buying a new home in Bend Oregon, our vetted loan officers have a strong understanding of the local real estate market and what it really takes to close your physician mortgage with competency and know-how.
Our loan officers in Bend Oregon provide exclusive financing for doctors, exactly like you.
First off, let’s talk about 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 fewer number of terms than their competitors.
Physician Loan Experts In Bend Oregon
If you are looking for a physician mortgage loan in Bend Oregon then you came to the right place.
You’ve trained very hard to become a doctor and purchasing 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 loan!
A physician mortgage is a special loan program made just for doctors in the home purchasing process.
We recognize the budgetary demands of your student loan financial obligation, and how essential it is to preserve working capital for when the time is right with embarking upon your career. No matter if you are a couple years into practice, or a well established doctor, you can rely on us to find a mortgage loan that is specifically tailored for your needs.
A lot of doctors in Bend Oregon may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or very little to no work history.
Despite these reasons smart financial institutions know that doctors are a good bet because they historically have an extremely low default rate on loans, high earning potential and stable jobs.
Not all mortgage lenders offer this specialized product and within banks that do simply consulting with the best home loan officer makes an enormous difference.
Advantages of Physician Home Mortgage Loans
- Usually does not include student loan monthly payments in debt-to-income ratio.
- Requires small to no down payment (0-5 percent).
- Often does not call for private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
- Will approve a contract as documentation of future earnings, in lieu 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 Cash Down?
Suppose 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 situations, you’ll get your mortgage loan paid off sooner and save thousands on interest too.
Additionally, don’t overlook that having equity in your house will likely offer greater security and overall flexibility, particularly if something unplanned happens. With the 100% financed physician home mortgage loan, you ought to expect 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 up to 10% of the purchase price just to get out of the house.
No matter if you are moving down the street, across town or across the country, we are available to help you through the physician home loan process:: because you deserve it!
Doctors, get the home of your dreams with our Bend Oregon physician home mortgage program!
Less than an hour ago, doctors just like you requested a loan from the locations listed below.
