Physician Mortgage In Bloomington Minnesota

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 or not our clients are a first time home buyer or buying a new home in Bloomington Minnesota, our vetted loan officers have a solid understanding of the local area real estate market and what it takes to secure your physician home loan with proficiency and know-how.

Our loan officers in Bloomington Minnesota provide specialized financing for doctors, just like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The 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 lock in early career doctors by loaning them more money with fewer stipulations than their competitions.

Physician Home Loan Experts In Bloomington Minnesota

If you are searching for a physician home loan in Bloomington Minnesota then you came to the perfect place.

You’ve worked very hard to become a doctor and purchasing 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 home loan!

A physician loan is a special loan program designed just for doctors in the home buying process.

We recognize the personal financial demands of your student loan financial debt, and how vital it is to preserve 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 depend on us to find a home loan that is specifically tailored for your needs.

Quite a few physicians in Bloomington Minnesota may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation 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 nonpayment rate on loans, high earning potential and secure jobs.

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

Benefits 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).
  • Usually does not require private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve an agreement as proof of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

What if you have some cash to put down or are thinking about 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 instances, you’ll get your home loan paid off sooner and save thousands of dollars on interest too.

Furthermore, don’t overlook that having equity in your house will likely provide greater security and flexibility, specifically if something unforeseen happens. With the 100% financed physician home mortgage loan, you ought to anticipate to start out under water. If something does not work out and you’re forced to sell quickly, you need to be prepared to write a potentially large check for as much as 10% of the purchase price simply to get out of the house.

Regardless of whether you are relocating down the road, across town or across the country, we are available to work with you throughout the physician home mortgage process:: because you deserve it!

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

Less than an hour ago, doctors just like you requested a loan from the locations listed below.

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