Physician Home Loan Danville Virginia

Regardless if you are a first time home buyer or purchasing a new home in Danville Virginia, our vetted loan officers have a strong understanding of the local real estate industry and what it requires to close your physician home mortgage with efficiency and expertise.

Our loan officers in Danville Virginia provide specialized financing for doctors, just like you.

First, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are extremely profitable clients for lenders. 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 a lot fewer requirements than their competitors.

Physician Home Mortgage Experts In Danville Virginia

If you are searching for a physician home loan in Danville Virginia then you came to the perfect place.

You’ve trained very hard to become a doctor and buying home should not 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 specifically for doctors?

Yup, doctors get their own loan!

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

We are aware of the personal financial demands of your student loan financial obligation, and how vital it is to maintain working capital for when the time is right with launching 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 exclusively tailored for your needs.

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

Despite these reasons smart lenders know that doctors are a good choice considering that they traditionally have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do simply speaking to the best mortgage officer makes an enormous difference.

Advantages of Physician Home Loans

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

Buying a house 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 funds to put down or are considering delaying until you have the cash?

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

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

Furthermore, don’t overlook that having equity in your home will provide more security and flexibility, specifically if something unexpected happens. With the 100% financed physician home mortgage loan, you should anticipate to start out under water. If something does not work out and you are forced to sell quickly, you need to be prepared to write a potentially large check for up to 10% of the purchase price simply to get out of the home.

Regardless of whether you are relocating down the road, 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 house of your dreams with our Danville Virginia physician home loan program!

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

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