Home Mortgage For Physicians In Covington Kentucky

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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Whether or not you are a first time home buyer or buying a new home in Covington Kentucky, our vetted loan officers have a solid understanding of the local area real estate market and what it requires to close your physician loan with competency and know-how.

Our loan officers in Covington Kentucky provide specialized financing for doctors, like you.

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

Physician Loan Experts In Covington Kentucky

If you are trying to find a physician mortgage in Covington Kentucky then you came to the perfect place.

You’ve trained very hard to become a doctor and buying 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 home loan!

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

We understand the economic demands of your student loan liability, and how essential it is to preserve working capital for when the time is right with launching 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.

Quite a few physicians in Covington Kentucky may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or very little to no work history.

Despite these factors smart financial institutions know that doctors are a good bet due to the fact that they generally have an exceptionally 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 simply speaking with the right mortgage loan officer makes an enormous difference.

Benefits of Physician Home Loans

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

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

Should You Put Cash Down?

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

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 instances, you’ll get your mortgage loan paid off earlier and save thousands of dollars on interest too.

Furthermore, don’t overlook that having equity in your house will offer more security and flexibility, particularly if something unexpected happens. With the 100% financed physician home mortgage loan, you should anticipate to start out underwater. If something doesn’t work out and you’re forced to sell quickly, you need to be prepared to write a potentially large 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 available to lend a hand you all throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Covington Kentucky physician loan program!

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