Physician Loan In Chicago Illinois

Preferred Physician Loan Officer

Bill Lavelle
NMLS# 712886
Mobile: (614) 563-4086 / 1-800-761-0194
Email: Bill.Lavelle@BankAtFirst.com
Website: www.BillLavelle.com

  • $0 Down with No PMI insurance up to a loan amount of $750,000
  • 5% Down with No PMI insurance for a loan amount of $750,001 – $1 Million
  • Can close on loan up to 90 days before starting new employment with a copy of executed offer & acceptance
  • 30 Year Fixed option as well as a full suite of ARM products
  • Purchase, Construction, or Refinance
  • Permanent Resident Aliens are allowed. A Green Card (INS Form I-551) is required.
  • Eligible Professions: Physicians, Medical Residents, Interns and fellowship doctors, Dentists, Chiropractors, Veterinarians, CRNA/PA-C

I have spent most of my professional career as a mortgage loan officer, both with major banks and mortgage companies, and can truly say “I love working with home buyers to help make their dream of home ownership come true. Whether FHA or VA buyers, conforming or non-conforming, conventional or jumbo, construction or professional loan programs, I have worked with them all and know them inside and out. Accolades… sure I have them…

Ranked the #1 mortgage loan officer in the State of Ohio for construction / purchase origination in 2012, 2013, 2014, 2015, & 2016 with over $100 million in loans closed each year.
* Per top loan officer rankings by Mortgage Industry publication Scotsman Guide.

…but the satisfaction of helping each individual client is what is important to me. If you need a lender who will work tirelessly to get your deal closed then look no further. Message or call me anytime and I will be glad to help.

Thinking of building or buying, call me first to find the perfect loan program for you.

Get Your Physician Loan Rates Now by Completing the Form Below.

Regardless of whether you are a first time home buyer or purchasing a new home in Chicago Illinois, our vetted loan officers have a strong understanding of the local real estate industry and what it really takes to secure your physician home loan with proficiency and expertise.

Our loan officers in Chicago Illinois provide special financing for doctors, just like you.

First, let’s talk about why physician mortgage loans even exist. The reason is that doctors are really profitable customers 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 loaning them more money with a fewer number of terms than their competitions.

Physician Home Mortgage Experts In Chicago Illinois

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

You’ve worked very hard to become a doctor and purchasing home really 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 mortgage!

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

We are aware of the economic demands of your student loan financial debt, and how important it is to preserve 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 count on us to find a home loan that is specially tailored for your needs.

A large number of physicians in Chicago Illinois may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or very little to no work history.

Despite these reasons smart financial institutions know that doctors are a good bet considering that they generally 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 speaking to the right home loan officer makes a remarkable difference.

Advantages of Physician Home Loans

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

Purchasing a home doesn’t need to empty your savings and the process doesn’t have to drain your time.

Should You Put Money Down?

What if you have some money to put down or are considering waiting until you have the money?

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

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

Furthermore, don’t forget that having equity in your home will definitely provide greater security and overall flexibility, specifically if something unexpected happens. With the 100% financed physician mortgage loan, you ought to anticipate to begin underwater. If something does not work out and you’re forced to sell quickly, you need to be prepared to write a potentially big check for up to 10% of the purchase price simply to get out of the home.

No matter if you’re moving down the street, across town or across the country, we are here to help you through the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Chicago Illinois physician loan program!

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