Home Mortgage For Physician Dearborn Heights Michigan

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

Our loan officers in Dearborn Heights Michigan provide special financing for doctors, just like you.

First, let’s talk about why physician mortgage loans even exist. The reason is that doctors are very 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 loaning them more money with fewer stipulations than their competitors.

Physician Home Loan Experts In Dearborn Heights Michigan

If you are searching for a physician home loan in Dearborn Heights Michigan then you came to the right place.

You’ve worked very hard to become a doctor and buying home shouldn’t 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 only for doctors?

Yup, doctors get their own mortgage!

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

We recognize the budgetary demands of your student loan liability, and how important 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 specially tailored for your needs.

Many physicians in Dearborn Heights Michigan 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 loan providers know that doctors are a good choice because they historically 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 just simply speaking to the right mortgage loan officer makes a significant difference.

Benefits of Physician Home Mortgage Loans

  • Usually does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Often does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve a contract as documentation of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Cash Down?

What if you have some money to put down or are thinking about waiting until you have the cash?

Our lenders can do the math for you and show you what each scenario looks like and the advantages of each too.

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

Additionally, don’t overlook that having equity in your home will likely provide more security and overall flexibility, especially if something unexpected happens. With the 100% financed physician mortgage loan, you should expect to begin underwater. If something doesn’t work out and you’re forced to sell quickly, you should be prepared to write a potentially large check for up to 10% of the purchase price simply to get out of the house.

No matter if you are moving down the street, across town or across the country, we are available to help you throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Dearborn Heights Michigan 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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