Home Mortgage For Physicians In Bayonne 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.

Regardless if you are a first time home buyer or purchasing a new home in Bayonne New Jersey, our vetted loan officers have a solid understanding of the local real estate market and what it really requires to close your physician home mortgage with efficiency and know-how.

Our loan officers in Bayonne New Jersey offer specialized financing for doctors, like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are very profitable clients 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 a fewer number of requirements than their competitors.

Physician Home Mortgage Experts In Bayonne New Jersey

If you are trying to find a physician loan in Bayonne New Jersey then you came to the right place.

You’ve trained very hard to become a doctor and purchasing home should not 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 specifically for doctors?

Yup, doctors get their own loan!

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

We recognize the budgetary demands of your student loan liability, and how crucial it is to preserve working capital for when the time is right with starting your career. Whether you are a couple years into practice, or a well established doctor, you can depend on us to find a mortgage loan that is exclusively tailored for your needs.

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

Despite these reasons smart financial institutions know that doctors are a good choice because they traditionally have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do just simply consulting with the best mortgage officer makes a tremendous difference.

Advantages of Physician Home Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Often does not require private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will accept a contract as documentation of future earnings, in lieu of pay stubs or W-2s, that 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?

Suppose you have some funds to put down or are considering waiting until you have the funds?

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

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

Furthermore, don’t overlook that having equity in your home will most likely offer more security and overall flexibility, especially if something unplanned happens. With the 100% financed physician mortgage loan, you ought to expect to begin under water. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially sizable check for up to 10% of the purchase price simply to get out of the home.

Regardless of whether you’re relocating down the street, across town or across the country, we are here to assist you throughout the physician home loan process:: because you deserve it!

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

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