Physician Home Loan Program Dearborn Michigan

Regardless if you are a first time home buyer or purchasing a new home in Dearborn Michigan, our vetted loan officers have a solid understanding of the local area real estate market and what it really requires to secure your physician loan with proficiency and expertise.

Our loan officers in Dearborn Michigan offer exclusive financing for doctors, exactly like you.

First off, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are extremely 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 lending them more money with a lot fewer requirements than their competitors.

Physician Home Loan Experts In Dearborn Michigan

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

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

Yup, doctors get their own mortgage!

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

We understand the personal financial demands of your student loan financial obligation, and how essential it is to preserve working capital for when the time is right with starting your career. No matter if you are a couple years into practice, or a well established doctor, you can depend on us to find a mortgage loan that is specially tailored for your needs.

A large number of doctors in Dearborn Michigan may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or minimal to no work history.

Despite these reasons smart loan providers 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 stable jobs.

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

Advantages of Physician Home Loans

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

Purchasing a house doesn’t need to empty 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 delaying until you have the funds?

Our 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.

Additionally, don’t overlook that having equity in your home will likely provide greater security and overall flexibility, particularly if something unexpected happens. With the 100% financed physician home mortgage loan, you should anticipate to begin underwater. If something does not 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 home.

Regardless of whether you’re moving down the street, across town or across the country, we are right here to help you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Dearborn 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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