Physician Loan In Albany Oregon

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 our clients are a first time home buyer or purchasing a new home in Albany Oregon, our vetted loan officers have a strong understanding of the local area real estate market and what it takes to secure your physician loan with proficiency and know-how.

Our loan officers in Albany Oregon provide special financing for doctors, just like you.

First, let’s discuss why physician mortgage loans even exist. The reason is that doctors are extremely profitable customers for financial 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 far fewer terms than their competitors.

Physician Home Mortgage Experts In Albany Oregon

If you are trying to find a physician home loan in Albany 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 only for doctors?

Yup, doctors get their own loan!

A physician home loan is a specialty loan program put together just for doctors in the home purchasing process.

We are aware of the budgetary demands of your student loan liability, and how important it is to maintain working capital for when the time is right with embarking upon your career. Regardless if you are a couple years into practice, or a well established doctor, you can count on us to find a home loan that is exclusively tailored for your needs.

Many physicians in Albany Oregon 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 reasons smart financial institutions know that doctors are a good choice considering that they typically have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banking institutions that do simply speaking with the best home loan officer makes a remarkable difference.

Advantages of Physician Home Loans

  • Typically does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Often does not call for private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve a contract as proof of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Money Down?

Suppose you have some cash to put down or are thinking about 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 circumstances, you’ll get your mortgage loan paid off sooner and save thousands on interest rates too.

Additionally, don’t forget that having equity in your house will definitely provide more security and overall flexibility, particularly if something unexpected happens. With the 100% financed physician mortgage loan, you should expect to start out under water. If something does not work out and you’re forced to sell quickly, you need to be prepared to write a potentially sizable check for up to 10% of the purchase price simply to get out of the house.

Whether you’re relocating down the street, 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 Albany Oregon 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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