Physician Home Loan Danville Virginia

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

Our loan officers in Danville Virginia offer specialized financing for doctors, 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 secure early career doctors by loaning them more money with a fewer number of terms than their competitors.

Physician Mortgage Experts In Danville Virginia

If you are looking for a physician mortgage in Danville Virginia then you came to the right place.

You’ve trained very hard to become a doctor and purchasing home really 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 only for doctors?

Yup, doctors get their own home loan!

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

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

A lot of physicians in Danville Virginia may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or minimal to no work history.

Despite these factors smart lenders know that doctors are a good bet because they typically have an extremely low default rate on loans, high earning potential and stable jobs.

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

Advantages of Physician Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Usually does not call for 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.

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

Should You Put Money Down?

Suppose you have some funds to put down or are thinking about waiting until you have the cash?

Our loan providers can do the math for you and show you what each circumstance looks like and the advantages of each too.

In most cases, you’ll get your home mortgage paid off sooner and save thousands on interest too.

Additionally, don’t overlook that having equity in your house will definitely offer greater security and overall flexibility, specifically if something unplanned happens. With the 100% financed physician mortgage loan, you should anticipate to begin under water. If something doesn’t work out and you’re forced to sell quickly, you should be prepared to write a potentially large check for as much as 10% of the purchase price just to get out of the house.

Regardless of whether you are relocating down the road, across town or across the country, we are available to lend a hand you throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Danville Virginia physician home loan program!

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