Physician Loan In Bridgeport Connecticut

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 Bridgeport Connecticut, our vetted loan officers have a solid understanding of the local real estate industry and what it really takes to close your physician loan with efficiency and expertise.

Our loan officers in Bridgeport Connecticut offer specialized financing for doctors, like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The reason is that doctors are really 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 secure early career doctors by loaning them more money with fewer requirements than their competitions.

Physician Mortgage Experts In Bridgeport Connecticut

If you are looking for a physician loan in Bridgeport Connecticut then you came to the right place.

You’ve worked very hard to become a doctor and purchasing home shouldn’t 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 loan is a customized loan program made just for doctors in the home buying process.

We recognize the financial demands of your student loan liability, and how crucial it is to preserve 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 depend on us to find a mortgage loan that is specially tailored for your needs.

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

Despite these reasons smart lending institutions know that doctors are a good bet because they typically have an exceptionally low default rate on loans, high earning potential and stable jobs.

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

Benefits of Physician Home Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Typically 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, in lieu of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

Suppose you have some money to put down or are looking at waiting until you have the funds?

Our lenders can do the math for you and show you what each situation 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 forget that having equity in your home will likely provide greater security and flexibility, specifically if something unplanned happens. With the 100% financed physician home mortgage loan, you should anticipate to begin under water. If something does not work out and you are forced to sell quickly, you should be prepared to write a potentially large check for up to 10% of the purchase price simply to get out of the home.

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

Doctors, get the house of your dreams with our Bridgeport Connecticut physician home mortgage program!

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