Physician Home Loan Program In Chesapeake 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 of whether you are a first time home buyer or buying a new home in Chesapeake Virginia, our vetted loan officers have a strong understanding of the local real estate market and what it takes to secure your physician home loan with competency and expertise.

Our loan officers in Chesapeake Virginia provide specialized financing for doctors, like you.

To start with, let’s talk about why physician mortgage loans even exist. The reason is that doctors are really 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 a lot fewer requirements than their competitions.

Physician Home Mortgage Experts In Chesapeake Virginia

If you are looking for a physician mortgage in Chesapeake Virginia 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 mortgage!

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

We recognize the financial demands of your student loan financial obligation, and how important it is to preserve 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 count on us to find a home loan that is specifically tailored for your needs.

Many doctors in Chesapeake Virginia may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation or minimal to no work history.

Despite these reasons smart lending institutions know that doctors are a good choice because they historically have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banking institutions that do just simply talking to the best mortgage loan officer makes a remarkable difference.

Advantages of Physician Home Mortgage Loans

  • Typically does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Generally does not call for 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 need to drain your savings and the process doesn’t have to drain your time.

Should You Put Money Down?

What if you have some cash to put down or are looking at delaying until you have the money?

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

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

Additionally, don’t forget that having equity in your home will most likely provide more security and flexibility, specifically if something unplanned happens. With the 100% financed physician mortgage loan, you ought to expect to begin underwater. 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 simply to get out of the home.

No matter if you’re moving down the road, 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 Chesapeake 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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