Physician Mortgage Duluth Minnesota

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 of whether you are a first time home buyer or purchasing a new home in Duluth Minnesota, our vetted loan officers have a strong understanding of the local real estate industry and what it really takes to close your physician home mortgage with competency and expertise.

Our loan officers in Duluth Minnesota provide special financing for doctors, just like you.

First and foremost, 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 secure early career doctors by lending them more money with fewer requirements than their competitions.

Physician Home Mortgage Experts In Duluth Minnesota

If you are looking for a physician mortgage in Duluth Minnesota then you came to the perfect place.

You’ve worked 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 specifically for doctors?

Yup, doctors get their own home loan!

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

We recognize the economic demands of your student loan debt, and how crucial it is to maintain working capital for when the time is right with embarking upon your career. Regardless if you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is specially tailored for your needs.

Quite a few doctors in Duluth Minnesota 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 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 banks offer this specialized product and within banks that do simply speaking with the right home loan officer makes a remarkable difference.

Benefits of Physician Home Mortgage Loans

  • Usually does not include student loan monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Typically does not require 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.

Purchasing a house 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 cash?

Our mortgage 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 paid off earlier and save thousands of dollars on interest too.

Additionally, don’t overlook that having equity in your house will likely offer greater security and overall flexibility, specifically if something unforeseen happens. With the 100% financed physician home mortgage loan, you ought to expect to start out under water. If something doesn’t work out and you are forced to sell quickly, you should be prepared to write a potentially sizable check for up to 10% of the purchase price simply to get out of the house.

No matter if you are moving down the street, across town or across the country, we are right here to work with you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Duluth Minnesota 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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