Physician Mortgage In Decatur Alabama

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 Decatur Alabama, our vetted loan officers have a strong understanding of the local area real estate industry and what it requires to secure your physician mortgage with proficiency and know-how.

Our loan officers in al geo offer special 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 really 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 far fewer stipulations than their competitors.

Physician Home Mortgage Experts In Decatur Alabama

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

You’ve worked very hard to become a doctor and buying home really 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 just for doctors?

Yup, doctors get their own mortgage!

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

We understand the economic demands of your student loan financial obligation, and how crucial it is to preserve working capital for when the time is right with starting your career. Regardless if you are a couple years into practice, or a well established doctor, you can rely on us to find a mortgage loan that is specially tailored for your needs.

Many doctors in Decatur Alabama may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation or minimal to no work history.

Despite these factors smart lending institutions know that doctors are a good bet considering that they traditionally have an incredibly low default rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banking institutions that do simply talking to the right home loan officer makes a tremendous difference.

Benefits of Physician Home Loans

  • Typically does not include student loan monthly payments in debt-to-income ratio.
  • Requires small 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 approve an agreement as evidence of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

Buying 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 looking at delaying 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 situations, 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 likely provide greater security and overall flexibility, particularly if something unforeseen happens. With the 100% financed physician mortgage loan, you ought to expect 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 big check for as much as 10% of the purchase price simply to get out of the house.

No matter if you’re relocating down the street, across town or across the country, we are right here 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 Decatur Alabama physician loan program!

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

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