Physician Home Loan Program In Cedar Rapids Iowa

Regardless if our clients are a first time home buyer or buying a new home in Cedar Rapids Iowa, our vetted loan officers have a solid understanding of the local real estate market and what it really takes to close your physician home loan with efficiency and know-how.

Our loan officers in Cedar Rapids Iowa offer special financing for doctors, just like you.

First off, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very 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 loaning them more money with fewer requirements than their competitors.

Physician Home Mortgage Experts In Cedar Rapids Iowa

If you are searching 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 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 just for doctors?

Yup, doctors get their own mortgage!

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

We recognize the budgetary demands of your student loan debt, and how crucial it is to preserve working capital for when the time is right with starting your career. Whether or not 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.

A lot of 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 factors smart lending institutions know that doctors are a good choice due to the fact that they traditionally have an exceptionally low default rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do simply speaking to the best home loan officer makes a tremendous difference.

Advantages of Physician Home Loans

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

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

Should You Put Cash Down?

Suppose you have some funds 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 situation looks like and the advantages of each too.

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

Additionally, don’t forget that having equity in your house will definitely provide more security and overall flexibility, particularly if something unexpected happens. With the 100% financed physician mortgage loan, you should anticipate to start out under water. If something does not work out and you are forced to sell quickly, you should be prepared to write a potentially large check for up to 10% of the purchase price just to get out of the house.

No matter if you’re moving down the street, across town or across the country, we are here to work with you throughout the physician home mortgage process:: because you deserve it!

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