Physician Loan In Bakersfield California

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 our clients are a first time home buyer or purchasing a new home in Bakersfield California, our vetted loan officers have a solid understanding of the local area real estate industry and what it requires to close your physician home mortgage with efficiency and expertise.

Our loan officers in Bakersfield California provide special financing for doctors, just like you.

First, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are extremely 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 secure early career doctors by lending them more money with a fewer number of stipulations than their competitors.

Physician Loan Experts In Bakersfield California

If you are searching for a physician loan in Bakersfield California then you came to the right place.

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

Yup, doctors get their own home loan!

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

We are aware of the personal financial demands of your student loan financial debt, and how essential it is to maintain working capital for when the time is right with launching your career. Whether 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.

Quite a few physicians in Bakersfield California 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 reasons smart lenders know that doctors are a good bet because they typically have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do just simply talking with the right home loan officer makes a tremendous difference.

Benefits of Physician Mortgage Loans

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

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

Should You Put Cash Down?

Suppose you have some funds to put down or are looking at 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 loan paid off earlier and save thousands of dollars on interest rates too.

Furthermore, don’t overlook that having equity in your home will definitely offer greater security and flexibility, particularly if something unforeseen happens. With the 100% financed physician home mortgage loan, you should anticipate 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 big check for as much as 10% of the purchase price just to get out of the house.

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

Doctors, get the house of your dreams with our Bakersfield California physician home loan program!

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