Physician Loan In Chicago Illinois

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

Our loan officers in Chicago Illinois offer special financing for doctors, exactly like you.

To start with, let’s talk about why physician mortgage loans even exist. The reason is that doctors are very 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 secure early career doctors by lending them more money with a lot fewer terms than their competitors.

Physician Home Loan Experts In Chicago Illinois

If you are looking for a physician mortgage in Chicago Illinois then you came to the perfect place.

You’ve trained very hard to become a doctor and buying 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 only for doctors?

Yup, doctors get their own loan!

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

We recognize the budgetary demands of your student loan liability, and how vital it is to preserve working capital for when the time is right with launching your career. Regardless if you are a couple years into practice, or a well established doctor, you can depend on us to find a mortgage loan that is specifically tailored for your needs.

Quite a few physicians in Chicago Illinois 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 bet considering that they historically have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banking institutions that do simply speaking with the right mortgage officer makes a remarkable difference.

Advantages of Physician Home Mortgage Loans

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

Purchasing a house doesn’t need to drain your savings and the process doesn’t need to drain your time.

Should You Put Money Down?

What if you have some cash to put down or are thinking about waiting until you have the cash?

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

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

Furthermore, don’t overlook that having equity in your house will most likely provide more security and overall flexibility, especially if something unplanned happens. With the 100% financed physician home mortgage loan, you should expect to start out under water. If something doesn’t work out and you are forced to sell quickly, you need to be prepared to write a potentially large check for up to 10% of the purchase price just to get out of the home.

Regardless of whether you are relocating down the street, across town or across the country, we are right here to assist you through the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Chicago Illinois 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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