Physician Mortgage In Charlottesville Virginia

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 if our clients are a first time home buyer or buying a new home in Charlottesville Virginia, our vetted loan officers have a solid understanding of the local area real estate industry and what it really takes to secure your physician mortgage with efficiency and know-how.

Our loan officers in Charlottesville Virginia offer special financing for doctors, exactly like you.

To start with, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are extremely 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 lock in early career doctors by loaning them more money with a lot fewer terms than their competitions.

Physician Loan Experts In Charlottesville Virginia

If you are looking for a physician home loan in Charlottesville Virginia then you came to the right place.

You’ve worked very hard to become a doctor and purchasing 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 just for doctors?

Yup, doctors get their own loan!

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

We recognize the financial demands of your student loan liability, and how crucial it is to maintain working capital for when the time is right with embarking upon your career. Whether you are a couple years into practice, or a well established doctor, you can depend on us to find a mortgage loan that is exclusively tailored for your needs.

A large number of doctors in Charlottesville Virginia 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 factors smart lending institutions know that doctors are a good bet because they historically have an extremely 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 just simply consulting with the right home loan officer makes an enormous difference.

Benefits of Physician Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires very 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 accept a contract as proof 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 Money Down?

What if you have some funds to put down or are considering delaying 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 sooner and save thousands of dollars on interest too.

Furthermore, don’t overlook that having equity in your house will offer more security and overall flexibility, specifically if something unanticipated happens. With the 100% financed physician mortgage loan, you ought to anticipate to begin under water. If something does not work out and you’re forced to sell quickly, you need to 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’re relocating down the street, across town or across the country, we are here to help you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Charlottesville Virginia 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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