Physician Mortgage In Bellingham Washington

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 buying a new home in Bellingham Washington, our vetted loan officers have a strong understanding of the local real estate market and what it really takes to secure your physician home mortgage with efficiency and know-how.

Our loan officers in Bellingham Washington offer specialized financing for doctors, like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The main 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 loaning them more money with far fewer terms than their competitors.

Physician Home Loan Experts In Bellingham Washington

If you are searching for a physician loan in Bellingham Washington then you came to the perfect place.

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

Yup, doctors get their own loan!

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

We are aware of the personal financial demands of your student loan liability, and how vital 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 home loan that is specially tailored for your needs.

A lot of doctors in Bellingham Washington may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial debt or very little to no work history.

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

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

Advantages of Physician Home Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Generally does not call for private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will accept an agreement as documentation of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

Buying a house doesn’t need 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 delaying until you have the funds?

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

In most situations, you’ll get your home loan paid off earlier and save thousands on interest too.

Additionally, don’t overlook that having equity in your home will definitely provide more security and flexibility, specifically if something unforeseen happens. With the 100% financed physician mortgage loan, you ought to expect to start out under water. If something does not 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 house.

No matter if you are moving down the street, across town or across the country, we are here to work with you through the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Bellingham Washington physician loan program!

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