Physician Loan In Atlantic City New Jersey

Preferred Physician Loan Officer

Jim Webster
NMLS# 658933
Mobile: (240) 620-1414
Email: jwebster@fultonmortgagecompany.com
Website: www.fultonmortgagecompany.com/jimwebster

  • Available terms 15 year fixed, 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM and 15/1ARM
  • 100% financing to $1,500,000
  • 700 minimum credit score
  • No Mortgage Insurance
  • Signed employment contract with guaranteed income allowed for qualifying if start of new job is not more than 60 days from settlement of home purchase
  • Available for MD, DO, DMD, PHARMD, DVM and DDS
  • Residents and Fellows allowed student loans deferred for 12 months not counted in debt to income ratio
  • Practicing Doctors must not be out of Residency more than 10 years unless they are relocating for a new job
  • Self-employed or RVU paid doctors need 2 years filed federal tax returns for income qualification
  • Bank checking account with auto mortgage payment from that account required.
Get Your Physician Loan Rates Now by Completing the Form Below.

Whether you are a first time home buyer or purchasing 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 requires to close your physician home loan with efficiency and know-how.

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

First and foremost, let’s talk about why physician mortgage loans even exist. The reason is that doctors are very 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 lock in early career doctors by lending them more money with fewer terms than their competitors.

Physician Mortgage Experts In Atlantic City New Jersey

If you are trying to find a physician mortgage loan in Atlantic City New Jersey then you came to the perfect place.

You’ve worked very hard to become a doctor and buying 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 just for doctors?

Yup, doctors get their own loan!

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

We are aware of the economic demands of your student loan financial obligation, and how essential it is to preserve working capital for when the time is right with launching 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 mortgage loan that is specifically tailored for your needs.

Quite a few 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 minimal to no work history.

Despite these reasons smart lenders know that doctors are a good bet considering that they traditionally have an incredibly low default rate on loans, high earning potential and secure jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do just simply talking to the right mortgage loan officer makes a significant difference.

Benefits of Physician Home Loans

  • Usually does not include student loan monthly payments in debt-to-income percentage.
  • Requires very 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 evidence of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

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

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

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

Additionally, don’t forget that having equity in your house will provide greater security and flexibility, particularly if something unforeseen happens. With the 100% financed physician home mortgage loan, you should expect to start out 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.

No matter if you’re relocating 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 home of your dreams with our Atlantic City New Jersey physician home loan program!

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