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 or not our clients are a first time home buyer or buying a new home in Janesville Wisconsin, our vetted loan officers have a solid understanding of the local real estate industry and what it really takes to secure your physician loan with competency and know-how.
Our loan officers in Janesville Wisconsin provide special financing for doctors, like you.
First and foremost, let’s discuss why physician mortgage loans even exist. The reason is that doctors are extremely profitable clients for lenders. 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 requirements than their competitions.
Physician Mortgage Experts In Janesville Wisconsin
If you are looking for a physician home loan in Janesville Wisconsin then you came to the right place.
You’ve worked very hard to become a doctor and buying home really 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 specifically for doctors?
Yup, doctors get their own loan!
A physician loan is a specialized loan program put together just for doctors in the home buying process.
We understand the budgetary demands of your student loan liability, and how important it is to maintain working capital for when the time is right with launching your career. Whether you are a couple years into practice, or a well established doctor, you can count on us to find a mortgage loan that is specially tailored for your needs.
A lot of doctors in Janesville Wisconsin may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial debt or little to no work history.
Despite these factors smart lenders know that doctors are a good choice due to the fact that they generally have an extremely low default rate on loans, high earning potential and secure jobs.
Not all financial institutions offer this specialized product and within banks that do simply consulting with the right home loan officer makes a significant difference.
Advantages of Physician Home Mortgage Loans
- Usually does not include student loan monthly payments in debt-to-income ratio.
- Requires low to no down payment (0-5 percent).
- Typically does not require private mortgage insurance (PMI), even if lower than 20 percent down payment.
- Will accept a contract as evidence of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.
Buying a house doesn’t need to drain your savings and the process doesn’t need to drain your time.
Should You Put Money Down?
What if you have some money to put down or are considering delaying until you have the money?
Our loan providers can do the math for you and show you what each situation looks like and the benefits of each too.
In most instances, you’ll get your mortgage paid off earlier and save thousands of dollars on interest too.
Furthermore, don’t forget that having equity in your home will definitely provide greater security and overall flexibility, especially if something unexpected happens. With the 100% financed physician mortgage loan, you should 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 large check for up to 10% of the purchase price just to get out of the house.
Regardless of whether you are moving down the street, across town or across the country, we are here to help you throughout the physician home mortgage process:: because you deserve it!
Doctors, get the home of your dreams with our Janesville Wisconsin physician loan program!
Less than an hour ago, doctors just like you requested a loan from the locations listed below.
