Physician Mortgage In Bloomington Minnesota

Whether you are a first time home buyer or purchasing a new home in Bloomington Minnesota, our vetted loan officers have a solid understanding of the local area real estate industry and what it takes to close your physician home loan with competency and expertise.

Our loan officers in Bloomington Minnesota offer special financing for doctors, exactly like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The reason is that doctors are really profitable clients for financial 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 fewer number of stipulations than their competitors.

Physician Mortgage Experts In Bloomington Minnesota

If you are looking for a physician mortgage loan in Bloomington Minnesota then you came to the right place.

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

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

We recognize the economic demands of your student loan financial obligation, and how important 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 specially tailored for your needs.

A large number of doctors 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 very little to no work history.

Despite these factors smart lenders know that doctors are a good bet considering that they generally have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banks that do simply speaking with the right mortgage loan officer makes an enormous difference.

Benefits of Physician Home Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Often does not require private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will approve a contract as proof of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Money Down?

Suppose you have some cash 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 circumstance looks like and the benefits of each too.

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

Additionally, don’t forget that having equity in your house will most likely offer more security and flexibility, especially if something unexpected happens. With the 100% financed physician home mortgage loan, you should anticipate to start out under water. If something doesn’t work out and you’re forced to sell quickly, you need to 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 moving down the street, across town or across the country, we are here to help you all throughout the physician home loan process:: because you deserve it!

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

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

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