Physician Loan In Broken Arrow Oklahoma

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 Broken Arrow Oklahoma, our vetted loan officers have a strong understanding of the local real estate market and what it really requires to secure your physician home mortgage with competency and expertise.

Our loan officers in Broken Arrow Oklahoma offer exclusive financing for doctors, like you.

To start with, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very 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 far fewer stipulations than their competitions.

Physician Home Mortgage Experts In Broken Arrow Oklahoma

If you are looking for a physician home loan in Broken Arrow Oklahoma 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 only for doctors?

Yup, doctors get their own home loan!

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

We understand the financial demands of your student loan debt, and how vital it is to preserve working capital for when the time is right with starting 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 home loan that is specifically tailored for your needs.

Quite a few physicians in Broken Arrow Oklahoma may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or minimal to no work history.

Despite these reasons smart lenders know that doctors are a good bet due to the fact that they historically have an incredibly low default rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do just simply consulting with the right mortgage officer makes an enormous difference.

Benefits of Physician Home Mortgage Loans

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

Purchasing a house doesn’t have 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 considering delaying until you have the funds?

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

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

Furthermore, don’t overlook that having equity in your home will most likely offer more security and overall flexibility, particularly if something unplanned happens. With the 100% financed physician mortgage loan, you ought to anticipate to begin underwater. If something doesn’t work out and you’re forced to sell quickly, you need to be prepared to write a potentially big check for as much as 10% of the purchase price simply to get out of the house.

Whether you are moving down the road, across town or across the country, we are right here to work with you through the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Broken Arrow Oklahoma physician home loan program!

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