Physician Home Loan Program In Clifton New Jersey

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 our clients are a first time home buyer or purchasing a new home in Clifton New Jersey, our vetted loan officers have a strong understanding of the local area real estate market and what it really requires to secure your physician mortgage with proficiency and know-how.

Our loan officers in Clifton New Jersey offer special financing for doctors, exactly like you.

First off, let’s talk about why physician mortgage loans even exist. The reason is that doctors are extremely profitable customers for financial 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 competitions.

Physician Mortgage Experts In Clifton New Jersey

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

You’ve trained very hard to become a doctor and purchasing home shouldn’t 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 just for doctors?

Yup, doctors get their own loan!

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

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

A lot of physicians 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 lenders know that doctors are a good choice because they historically have an incredibly low default rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banks that do simply speaking to the best home loan officer makes a significant difference.

Benefits of Physician Home Mortgage Loans

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

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

Should You Put Cash Down?

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

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

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

Furthermore, don’t overlook that having equity in your home will definitely provide more security and overall flexibility, especially if something unexpected happens. With the 100% financed physician home mortgage loan, you should expect to start out 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 just to get out of the home.

Whether you’re moving down the street, across town or across the country, we are here to work with you all throughout the physician home mortgage process:: because you deserve it!

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

Less than an hour ago, doctors just like you requested a loan from the locations listed below.

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