Home Mortgage For Physicians In Buffalo New York

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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Regardless of whether you are a first time home buyer or purchasing a new home in Buffalo New York, our vetted loan officers have a solid understanding of the local area real estate industry and what it requires to close your physician loan with proficiency and know-how.

Our loan officers in Buffalo New York provide specialized financing for doctors, like you.

First off, let’s discuss why physician mortgage loans even exist. The reason is that doctors are extremely profitable customers 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 terms than their competitors.

Physician Mortgage Experts In Buffalo New York

If you are searching for a physician loan in Buffalo New York 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 only for doctors?

Yup, doctors get their own loan!

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

We recognize the economic demands of your student loan liability, and how vital it is to maintain working capital for when the time is right with launching your career. Whether or not you are a couple years into practice, or a well established doctor, you can depend on us to find a home loan that is specially tailored for your needs.

Quite a few physicians in Buffalo New York 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 factors smart lenders know that doctors are a good choice due to the fact that they historically have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banking institutions that do simply speaking to the best mortgage officer makes a remarkable difference.

Advantages of Physician Home Mortgage Loans

  • Generally does not include student loan 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 accept a contract as documentation of future earnings, instead 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 Money Down?

Suppose you have some money to put down or are thinking about waiting until you have the funds?

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

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

Furthermore, don’t forget that having equity in your home will likely offer more security and overall flexibility, specifically if something unforeseen happens. With the 100% financed physician mortgage loan, you ought to anticipate to start out underwater. If something doesn’t work out and you are forced to sell quickly, you should be prepared to write a potentially big check for as much as 10% of the purchase price just to get out of the house.

Regardless of whether you’re relocating down the street, across town or across the country, we are available to lend a hand you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Buffalo New York physician home mortgage program!

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

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