Physician Loan In Atlantic City New Jersey

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 if you are a first time home buyer or buying a new home in Atlantic City New Jersey, our vetted loan officers have a solid understanding of the local area real estate industry and what it takes to secure your physician home mortgage with efficiency and expertise.

Our loan officers in Atlantic City New Jersey offer special financing for doctors, like you.

To start with, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very profitable clients 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 lending them more money with far fewer requirements than their competitors.

Physician Mortgage Experts In Atlantic City New Jersey

If you are looking for a physician home loan in Atlantic City New Jersey then you came to the right 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 mortgage!

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

We are aware of the financial demands of your student loan financial debt, and how important it is to maintain working capital for when the time is right with starting your career. Whether or not you are a couple years into practice, or a well established doctor, you can rely on us to find a mortgage loan that is specially tailored for your needs.

A lot of physicians in Atlantic City New Jersey 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 extremely low default rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banking institutions that do just simply talking to the best mortgage loan officer makes a tremendous 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 necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will accept a contract as proof of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Money Down?

What if you have some funds to put down or are looking at waiting until you have the money?

Our loan providers can do the math for you and show you what each circumstance looks like and the benefits of each too.

In most circumstances, you’ll get your home loan paid off sooner and save thousands on interest rates too.

Additionally, don’t forget that having equity in your home will definitely offer greater security and overall flexibility, particularly if something unforeseen 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 need to be prepared to write a potentially sizable 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 right here to help you throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Atlantic City New Jersey physician loan program!

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

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