Physician Home Loan Program In Cedar Rapids Iowa

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 buying a new home in Cedar Rapids Iowa, our vetted loan officers have a strong understanding of the local real estate industry and what it really takes to secure your physician home loan with efficiency and expertise.

Our loan officers in Cedar Rapids Iowa provide specialized financing for doctors, exactly like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are very profitable clients 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 a lot fewer requirements than their competitions.

Physician Loan Experts In Cedar Rapids Iowa

If you are looking for a physician mortgage in Cedar Rapids Iowa then you came to the perfect place.

You’ve trained very hard to become a doctor and purchasing home really 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 mortgage is a specialty loan program developed just for doctors in the home buying process.

We recognize the economic demands of your student loan financial obligation, and how important it is to maintain working capital for when the time is right with launching 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 exclusively tailored for your needs.

Quite a few physicians in Cedar Rapids Iowa may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or minimal to no work history.

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

Not all mortgage lenders offer this specialized product and within banks that do just simply speaking with the right mortgage officer makes a remarkable difference.

Benefits of Physician Home Loans

  • Usually does not include student loan monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Typically does not call for private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve an agreement as evidence of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

What if you have some money to put down or are considering delaying until you have the funds?

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

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

Furthermore, don’t overlook that having equity in your house will definitely provide greater security and overall flexibility, particularly if something unanticipated happens. With the 100% financed physician mortgage loan, you should expect to begin under water. If something doesn’t work out and you’re forced to sell quickly, you should be prepared to write a potentially big check for up to 10% of the purchase price simply to get out of the house.

Regardless of whether you are relocating down the street, across town or across the country, we are available to work with you throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Cedar Rapids Iowa 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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