Physician Mortgage In Chattanooga Tennessee

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 our clients are a first time home buyer or buying a new home in Chattanooga Tennessee, our vetted loan officers have a strong understanding of the local area real estate industry and what it requires to close your physician loan with proficiency and know-how.

Our loan officers in Chattanooga Tennessee offer exclusive financing for doctors, exactly like you.

To start with, 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 lock in early career doctors by lending them more money with fewer terms than their competitions.

Physician Home Mortgage Experts In Chattanooga Tennessee

If you are searching for a physician home loan in Chattanooga Tennessee 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 specifically for doctors?

Yup, doctors get their own loan!

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

We recognize the personal financial demands of your student loan financial debt, and how essential 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 home loan that is specifically tailored for your needs.

Quite a few doctors in Chattanooga Tennessee may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or minimal to no work history.

Despite these factors smart lenders 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 banks offer this specialized product and within banking institutions that do just simply talking with the best home loan officer makes a remarkable difference.

Benefits of Physician Home Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Usually does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve 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 have to drain your time.

Should You Put Cash Down?

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

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

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

Additionally, don’t forget that having equity in your home will likely offer greater security and flexibility, specifically if something unanticipated happens. With the 100% financed physician mortgage loan, you should 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 sizable check for up to 10% of the purchase price simply 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 lend a hand you all throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Chattanooga Tennessee 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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