Physician Home Loan Program Decatur Illinois

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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Whether or not our clients are a first time home buyer or buying a new home in Decatur Illinois, our vetted loan officers have a strong understanding of the local area real estate industry and what it takes to secure your physician home mortgage with efficiency and expertise.

Our loan officers in Decatur Illinois offer special financing for doctors, like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The reason is that doctors are very 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 fewer number of requirements than their competitors.

Physician Mortgage Experts In Decatur Illinois

If you are trying to find a physician loan in Decatur Illinois then you came to the right place.

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

Yup, doctors get their own loan!

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

We are aware of the economic demands of your student loan financial debt, and how crucial it is to maintain working capital for when the time is right with starting your career. Whether you are a couple years into practice, or a well established doctor, you can count on us to find a home loan that is exclusively tailored for your needs.

Many physicians in Decatur Illinois 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 bet due to the fact that they typically have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all financial institutions offer this specialized product and within banking institutions that do simply speaking to the right mortgage loan officer makes a remarkable difference.

Advantages of Physician Home Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Usually does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve a contract as proof of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

Suppose you have some funds to put down or are looking at 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 situations, you’ll get your home loan paid off sooner and save thousands on interest rates too.

Additionally, don’t overlook that having equity in your house will likely provide more security and overall flexibility, particularly if something unplanned happens. With the 100% financed physician mortgage loan, you ought to anticipate to start out underwater. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially big check for up to 10% of the purchase price just to get out of the house.

No matter if you are moving down the road, across town or across the country, we are right here to help you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Decatur Illinois physician loan program!

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

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