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 if you are a first time home buyer or purchasing a new home in Kenner Louisiana, our vetted loan officers have a solid understanding of the local real estate industry and what it really requires to close your physician home mortgage with proficiency and know-how.
Our loan officers in Kenner Louisiana offer exclusive financing for doctors, like you.
First, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are really 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 secure early career doctors by loaning them more money with a lot fewer requirements than their competitors.
Physician Loan Experts In Kenner Louisiana
If you are searching for a physician mortgage loan in Kenner Louisiana then you came to the perfect place.
You’ve worked very hard to become a doctor and purchasing home should not be nearly as challenging.
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 mortgage!
A physician home loan is a specialized loan program designed just for doctors in the home buying process.
We are aware of the economic demands of your student loan liability, and how crucial it is to maintain working capital for when the time is right with launching your career. Whether or not you are a couple years into practice, or a well established doctor, you can depend on us to find a mortgage loan that is specially tailored for your needs.
Quite a few doctors in Kenner Louisiana may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or very little to no work history.
Despite these reasons smart financial institutions know that doctors are a good bet because they typically have an extremely low default rate on loans, high earning potential and secure jobs.
Not all mortgage lenders offer this specialized product and within banks that do just simply consulting with the best mortgage loan officer makes an enormous difference.
Advantages of Physician Home Mortgage Loans
- Typically does not include student loan regular monthly payments in debt-to-income percentage.
- 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 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 Money Down?
Suppose you have some funds to put down or are thinking about delaying until you have the money?
Our lenders can do the math for you and show you what each situation looks like and the advantages of each too.
In most circumstances, you’ll get your home loan paid off earlier and save thousands on interest too.
Additionally, don’t forget that having equity in your home will most likely offer greater security and overall flexibility, particularly if something unforeseen happens. With the 100% financed physician home mortgage loan, you ought to anticipate to begin underwater. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially sizable check for as much as 10% of the purchase price just to get out of the house.
Whether you’re moving down the road, across town or across the country, we are right here to assist you throughout the physician home loan process:: because you deserve it!
Doctors, get the home of your dreams with our Kenner Louisiana physician home mortgage program!
Less than an hour ago, doctors just like you requested a loan from the locations listed below.
