Physician Home Loan Program In Clifton New Jersey

Preferred Physician Loan Officer

Jim Webster
NMLS# 658933
Mobile: (240) 620-1414
Email: jwebster@fultonmortgagecompany.com
Website: www.fultonmortgagecompany.com/jimwebster

  • Available terms 15 year fixed, 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM and 15/1ARM
  • 100% financing to $1,500,000
  • 700 minimum credit score
  • No Mortgage Insurance
  • Signed employment contract with guaranteed income allowed for qualifying if start of new job is not more than 60 days from settlement of home purchase
  • Available for MD, DO, DMD, PHARMD, DVM and DDS
  • Residents and Fellows allowed student loans deferred for 12 months not counted in debt to income ratio
  • Practicing Doctors must not be out of Residency more than 10 years unless they are relocating for a new job
  • Self-employed or RVU paid doctors need 2 years filed federal tax returns for income qualification
  • Bank checking account with auto mortgage payment from that account required.
Get Your Physician Loan Rates Now by Completing the Form Below.

Regardless if you are a first time home buyer or purchasing a new home in Clifton New Jersey, our vetted loan officers have a solid understanding of the local area real estate industry and what it really requires to close your physician mortgage with competency and expertise.

Our loan officers in Clifton New Jersey provide exclusive financing for doctors, like you.

To start with, let’s discuss why physician mortgage loans even exist. The main 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 lock in early career doctors by lending them more money with fewer stipulations than their competitors.

Physician Home Mortgage Experts In Clifton New Jersey

If you are looking for a physician mortgage in Clifton New Jersey then you came to the right place.

You’ve worked very hard to become a doctor and buying home shouldn’t 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 loan is a special loan program put together just for doctors in the home buying process.

We recognize the financial demands of your student loan liability, and how essential 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 rely on us to find a mortgage loan that is specially tailored for your needs.

A lot of doctors in Clifton New Jersey 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 factors smart lending institutions know that doctors are a good bet due to the fact that they typically have an incredibly low nonpayment rate on loans, high earning potential and secure jobs.

Not all lenders offer this specialized product and within banks that do just simply talking to the best mortgage officer makes a tremendous difference.

Benefits of Physician Home Loans

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

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

Should You Put Cash Down?

Suppose you have some money to put down or are thinking about delaying until you have the cash?

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

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

Additionally, don’t overlook that having equity in your home will most likely offer greater security and overall flexibility, especially if something unanticipated happens. With the 100% financed physician mortgage loan, you ought to expect 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 big check for as much as 10% of the purchase price simply to get out of the home.

Regardless of whether you’re moving down the road, across town or across the country, we are right here to work with you through the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Clifton New Jersey physician home loan program!

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