Home Mortgage For Physician Albany New York

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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Whether or not our clients are a first time home buyer or purchasing a new home in Albany New York, our vetted loan officers have a strong understanding of the local area real estate market and what it requires to close your physician mortgage with efficiency and know-how.

Our loan officers in Albany New York offer exclusive financing for doctors, just like you.

First, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very profitable customers 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 loaning them more money with fewer stipulations than their competitors.

Physician Home Loan Experts In Albany New York

If you are looking for a physician loan in Albany New York then you came to the perfect place.

You’ve trained very hard to become a doctor and buying 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 mortgage!

A physician mortgage is a special loan program designed just for doctors in the home buying process.

We are aware of the budgetary demands of your student loan liability, and how vital 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 count on us to find a mortgage loan that is specifically tailored for your needs.

Quite a few physicians in Albany New York may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or little to no work history.

Despite these reasons smart lending institutions know that doctors are a good choice considering that they traditionally have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

Not all mortgage lenders offer this specialized product and within banks that do just simply talking to the best home loan officer makes a tremendous difference.

Advantages of Physician Home Mortgage Loans

  • Usually does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Typically does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve an agreement as documentation of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

Purchasing a home doesn’t need to empty your savings and the process doesn’t have to drain your time.

Should You Put Money Down?

Suppose you have some funds to put down or are considering waiting 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 cases, you’ll get your mortgage loan paid off earlier and save thousands of dollars on interest rates too.

Additionally, don’t forget that having equity in your home will likely offer greater security and flexibility, especially if something unplanned happens. With the 100% financed physician home mortgage loan, you should expect to begin under water. If something doesn’t work out and you are forced to sell quickly, you should be prepared to write a potentially big check for as much as 10% of the purchase price just to get out of the home.

Regardless of whether you’re moving down the street, across town or across the country, we are here to assist you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Albany New York physician home loan program!

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

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