Physician Loan In Detroit Michigan

Whether or not our clients are a first time home buyer or purchasing a new home in Detroit Michigan, our vetted loan officers have a strong understanding of the local real estate market and what it really takes to secure your physician home loan with competency and know-how.

Our loan officers in Detroit Michigan provide exclusive financing for doctors, like you.

First, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are very profitable customers for lending institutions. They take out big loans early in their careers and almost always pay them off. Lenders use physician home loans to secure early career doctors by loaning them more money with a lot fewer requirements than their competition.

Physician Loan Experts In Detroit Michigan

If you are trying to find a physician mortgage in Detroit Michigan then you came to the perfect place.

You’ve trained very hard to become a doctor and purchasing 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 home loan!

A physician loan is a specialty loan program created just for doctors in the home purchasing process.

We are aware of the budgetary demands of your student loan financial obligation, and how essential 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 rely on us to find a home loan that is exclusively tailored for your needs.

Quite a few doctors in Detroit Michigan may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial debt or little to no work history.

Despite these factors smart lending institutions know that doctors are a good choice due to the fact that they historically have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

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

Benefits of Physician Home Loans

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

Buying a home doesn’t need to empty your savings and the process doesn’t need to drain your time.

Should You Put Cash Down?

Suppose you have some cash to put down or are thinking about delaying until you have the money?

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

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

Furthermore, don’t overlook that having equity in your home will most likely provide greater security and flexibility, specifically if something unexpected happens. With the 100% financed physician home mortgage loan, you ought to expect to start out under water. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially sizable check for as much as 10% of the purchase price just to get out of the house.

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

Doctors, get the home of your dreams with our Detroit 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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