Physician Mortgage In Carmel Indiana

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 Carmel Indiana, our vetted loan officers have a solid understanding of the local real estate market and what it requires to secure your physician home loan with competency and expertise.

Our loan officers in Carmel Indiana offer exclusive 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 clients for lending 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 lending them more money with a lot fewer terms than their competitors.

Physician Mortgage Experts In Carmel Indiana

If you are looking for a physician loan in Carmel Indiana then you came to the perfect place.

You’ve trained very hard to become a doctor and buying home should not 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 home mortgage is a special loan program put together just for doctors in the home purchasing process.

We are aware of the personal financial demands of your student loan liability, and how important it is to maintain working capital for when the time is right with embarking upon your career. No matter if you are a couple years into practice, or a well established doctor, you can count on us to find a mortgage loan that is specially tailored for your needs.

Quite a few doctors in Carmel Indiana may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation or little to no work history.

Despite these factors smart lending institutions know that doctors are a good choice because they typically have an incredibly 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.

Advantages of Physician Mortgage Loans

  • Usually does not include student loan monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Generally does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will accept a contract as proof of future earnings, in lieu 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 need to drain your time.

Should You Put Money Down?

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

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 situations, you’ll get your home loan paid off sooner and save thousands on interest rates too.

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

No matter if you are moving down the road, across town or across the country, we are right here to assist you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Carmel Indiana 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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