Physician Home Loan Program Dubuque Iowa

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 Dubuque Iowa, our vetted loan officers have a strong understanding of the local real estate industry and what it really takes to close your physician mortgage with competency and know-how.

Our loan officers in Dubuque Iowa provide special financing for doctors, exactly like you.

To start with, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are really profitable clients 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 fewer requirements than their competitions.

Physician Mortgage Experts In Dubuque Iowa

If you are looking for a physician loan in Dubuque Iowa then you came to the right place.

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

Yup, doctors get their own mortgage!

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

We are aware of the budgetary demands of your student loan debt, and how vital it is to maintain working capital for when the time is right with launching 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 home loan that is exclusively tailored for your needs.

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

Despite these reasons smart loan providers know that doctors are a good choice because they traditionally have an extremely 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 just simply talking with the right home loan officer makes a significant difference.

Advantages of Physician Mortgage Loans

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

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

Should You Put Cash Down?

What if you have some funds to put down or are considering waiting until you have the money?

Our loan providers 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.

Furthermore, don’t forget that having equity in your home will definitely provide greater security and flexibility, especially if something unanticipated happens. With the 100% financed physician mortgage loan, you ought to expect to begin underwater. If something does not work out and you are forced to sell quickly, you need to be prepared to write a potentially sizable check for up to 10% of the purchase price simply to get out of the house.

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

Doctors, get the house of your dreams with our Dubuque Iowa physician home mortgage program!

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

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