Physician Loan In Charleston South Carolina

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 you are a first time home buyer or buying a new home in Charleston South Carolina, our vetted loan officers have a solid understanding of the local area real estate market and what it really takes to secure your physician mortgage with competency and know-how.

Our loan officers in Charleston South Carolina offer exclusive financing for doctors, just like you.

To start with, 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 stipulations than their competitions.

Physician Home Mortgage Experts In Charleston South Carolina

If you are looking for a physician home loan in Charleston South Carolina then you came to the right place.

You’ve worked very hard to become a doctor and buying home really 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 home loan!

A physician loan is a specialized loan program created just for doctors in the home purchasing process.

We recognize the personal financial demands of your student loan financial debt, and how crucial it is to maintain working capital for when the time is right with embarking upon 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 mortgage loan that is specially tailored for your needs.

Quite a few physicians in Charleston South Carolina may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or very little to no work history.

Despite these reasons smart financial institutions know that doctors are a good bet due to the fact that they historically have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

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

Benefits of Physician Home Loans

  • Typically 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 necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will accept an agreement as proof of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

Purchasing 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 cash to put down or are looking at waiting until you have the cash?

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

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

Additionally, don’t forget that having equity in your house will offer greater security and flexibility, specifically if something unanticipated happens. With the 100% financed physician mortgage loan, you ought to anticipate to begin underwater. If something does not work out and you are 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 home.

Regardless of whether you are moving down the road, across town or across the country, we are here to assist you throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Charleston South Carolina physician home mortgage program!

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