Physician Home Loan Ann Arbor Michigan

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 you are a first time home buyer or buying a new home in Ann Arbor Michigan, our vetted loan officers have a strong understanding of the local real estate industry and what it really takes to close your physician mortgage with competency and know-how.

Our loan officers in Ann Arbor Michigan offer exclusive financing for doctors, exactly like you.

First off, let’s discuss 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 lending them more money with fewer requirements than their competitors.

Physician Home Mortgage Experts In Ann Arbor Michigan

If you are trying to find a physician loan in Ann Arbor Michigan then you came to the right 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 only for doctors?

Yup, doctors get their own mortgage!

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

We understand the personal financial demands of your student loan debt, and how crucial it is to preserve working capital for when the time is right with launching your career. Regardless 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 specially tailored for your needs.

A large number of physicians in Ann Arbor Michigan may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or very little to no work history.

Despite these factors smart lending institutions know that doctors are a good choice due to the fact that they typically have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

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

Advantages of Physician Home Loans

  • Typically does not include student loan regular 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 if lower than 20 percent down payment.
  • Will approve a contract as proof of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

What if you have some cash to put down or are considering waiting until you have the cash?

Our lenders can do the math for you and show you what each circumstance looks like and the advantages of each too.

In most instances, you’ll get your mortgage paid off sooner and save thousands of dollars on interest too.

Additionally, don’t overlook that having equity in your home will definitely offer greater security and flexibility, especially if something unanticipated happens. With the 100% financed physician mortgage loan, you should expect to begin underwater. If something doesn’t work out and you’re forced to sell quickly, you need to be prepared to write a potentially big check for as much as 10% of the purchase price simply to get out of the house.

No matter if you’re relocating down the street, across town or across the country, we are right here to assist you through the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Ann Arbor Michigan 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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