Physician Home Loan Akron Ohio

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.
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Regardless of whether our clients are a first time home buyer or purchasing a new home in Akron Ohio, our vetted loan officers have a strong understanding of the local area real estate market and what it really takes to close your physician home mortgage with proficiency and expertise.

Our loan officers in Akron Ohio offer exclusive financing for doctors, just like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are very profitable customers 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 Mortgage Experts In Akron Ohio

If you are trying to find a physician loan in Akron Ohio then you came to the perfect place.

You’ve trained very hard to become a doctor and purchasing home really 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 loan!

A physician home loan is a customized loan program developed just for doctors in the home buying process.

We understand the financial demands of your student loan financial obligation, and how crucial it is to maintain 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 depend on us to find a home loan that is exclusively tailored for your needs.

A lot of doctors in Akron Ohio may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or little to no work history.

Despite these factors smart lenders know that doctors are a good choice considering that they historically have an incredibly low default rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banks that do just simply speaking with the right mortgage officer makes a tremendous difference.

Benefits of Physician Home Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Generally does not require private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept an agreement as documentation of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

Buying a house doesn’t have to drain your savings and the process doesn’t need to drain your time.

Should You Put Cash Down?

Suppose you have some money to put down or are considering waiting until you have the cash?

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 situations, you’ll get your mortgage loan paid off sooner and save thousands on interest too.

Additionally, don’t forget that having equity in your home will most likely provide more security and overall flexibility, particularly if something unplanned happens. With the 100% financed physician mortgage loan, you should anticipate to start out underwater. If something does not work out and you’re forced to sell quickly, you need to be prepared to write a potentially large check for up to 10% of the purchase price just to get out of the house.

No matter if you are relocating down the street, across town or across the country, we are here to lend a hand you all throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Akron Ohio physician home mortgage program!

Less than an hour ago, doctors just like you requested a loan from the locations listed below.

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