Home Mortgage For Physicians In Bloomington Indiana

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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Whether you are a first time home buyer or buying a new home in Bloomington Indiana, our vetted loan officers have a solid understanding of the local real estate industry and what it really requires to secure your physician home mortgage with efficiency and expertise.

Our loan officers in Bloomington Indiana offer exclusive financing for doctors, like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are extremely 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 loaning them more money with a lot fewer stipulations than their competitors.

Physician Loan Experts In Bloomington Indiana

If you are searching for a physician mortgage loan in Bloomington Indiana then you came to the right 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 specifically for doctors?

Yup, doctors get their own mortgage!

A physician home mortgage is a specialty loan program created just for doctors in the home buying process.

We recognize the financial demands of your student loan debt, and how vital it is to maintain 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 rely on us to find a mortgage loan that is specifically tailored for your needs.

Quite a few doctors in Bloomington Indiana may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation or little to no work history.

Despite these factors smart lending institutions know that doctors are a good choice because they generally have an exceptionally 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 speaking to the best home loan officer makes an enormous difference.

Advantages of Physician Home Loans

  • Generally does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Generally does not require private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve an agreement as documentation of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

Suppose you have some money to put down or are considering delaying until you have the money?

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

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

Furthermore, don’t overlook that having equity in your house will provide more security and flexibility, especially if something unexpected happens. With the 100% financed physician mortgage loan, you should expect to begin underwater. If something doesn’t work out and you are forced to sell quickly, you should be prepared to write a potentially sizable check for up to 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 help you throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Bloomington Indiana physician home loan program!

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