Physician Home Loan Program Canton Ohio

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 purchasing a new home in Canton Ohio, our vetted loan officers have a strong understanding of the local real estate industry and what it really requires to secure your physician home mortgage with competency and know-how.

Our loan officers in Canton Ohio provide specialized financing for doctors, just like you.

First off, let’s talk about 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 secure early career doctors by loaning them more money with fewer terms than their competitions.

Physician Home Loan Experts In Canton Ohio

If you are trying to find a physician mortgage loan in Canton Ohio then you came to the right place.

You’ve trained very hard to become a doctor and buying home shouldn’t 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 loan is a specialty loan program designed just for doctors in the home buying process.

We understand the personal financial demands of your student loan debt, and how crucial it is to maintain working capital for when the time is right with embarking upon your career. Regardless if you are a couple years into practice, or a well established doctor, you can rely on us to find a mortgage loan that is specifically tailored for your needs.

Many physicians in Canton Ohio 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 reasons smart loan providers know that doctors are a good choice considering that they typically have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

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

Benefits of Physician Home Loans

  • Usually does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Often does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept an agreement as documentation of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Cash Down?

What if you have some funds to put down or are looking at waiting until you have the funds?

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

In most instances, you’ll get your mortgage loan paid off earlier and save thousands on interest rates too.

Furthermore, don’t overlook that having equity in your home will likely offer greater security and overall flexibility, particularly if something unforeseen happens. With the 100% financed physician home mortgage loan, you ought to expect to begin underwater. If something does not work out and you are forced to sell quickly, you should be prepared to write a potentially sizable check for as much as 10% of the purchase price just to get out of the house.

No matter if you are relocating down the street, across town or across the country, we are right here 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 Canton Ohio 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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