Home Mortgage For Physicians In Columbia South Carolina

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 buying a new home in Columbia South Carolina, our vetted loan officers have a solid understanding of the local area real estate market and what it takes to close your physician home loan with competency and know-how.

Our loan officers in Columbia South Carolina offer special financing for doctors, just like you.

First off, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are extremely profitable clients 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 requirements than their competitors.

Physician Loan Experts In Columbia South Carolina

If you are looking for a physician mortgage in Columbia South Carolina then you came to the perfect place.

You’ve worked 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 home loan!

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

We recognize the personal financial demands of your student loan liability, and how important it is to preserve working capital for when the time is right with starting your career. Whether or not you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is exclusively tailored for your needs.

Many physicians in Columbia South Carolina may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation or little to no work history.

Despite these factors smart lenders know that doctors are a good choice due to the fact that they typically have an incredibly low default rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banking institutions that do just simply consulting with the best mortgage officer makes a tremendous difference.

Advantages of Physician Home Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Often does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve an agreement as documentation of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

Buying a house doesn’t need to empty 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 considering waiting until you have the cash?

Our 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 of dollars on interest too.

Additionally, don’t overlook that having equity in your house will likely offer greater security and flexibility, especially if something unforeseen 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’re forced to sell quickly, you should be prepared to write a potentially big check for as much as 10% of the purchase price just to get out of the home.

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

Doctors, get the house of your dreams with our Columbia South Carolina physician home loan program!

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