Physician Home Loan Program In Durham North Carolina

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 buying a new home in Durham North Carolina, our vetted loan officers have a solid understanding of the local area real estate market and what it requires to close your physician home mortgage with efficiency and expertise.

Our loan officers in Durham North Carolina offer special financing for doctors, like you.

First and foremost, let’s talk about 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 far fewer requirements than their competitors.

Physician Mortgage Experts In Durham North Carolina

If you are searching for a physician mortgage in Durham North Carolina then you came to the right place.

You’ve trained very hard to become a doctor and purchasing home shouldn’t 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 loan!

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

We are aware of the personal financial demands of your student loan financial obligation, and how important it is to preserve working capital for when the time is right with embarking upon your career. Whether or not you are a couple years into practice, or a well established doctor, you can depend on us to find a mortgage loan that is specifically tailored for your needs.

Quite a few physicians in Durham North Carolina may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or minimal to no work history.

Despite these factors smart lenders know that doctors are a good bet because they typically have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do just simply talking to the best mortgage loan officer makes a remarkable difference.

Advantages of Physician Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income ratio.
  • 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 an agreement as documentation of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

What if you have some money to put down or are considering delaying until you have the cash?

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

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

Furthermore, don’t overlook that having equity in your home will most likely offer more security and flexibility, specifically if something unanticipated happens. With the 100% financed physician home mortgage loan, you ought to anticipate to start out underwater. If something doesn’t work out and you are forced to sell quickly, you need to be prepared to write a potentially large check for up to 10% of the purchase price just to get out of the home.

No matter if you’re relocating down the street, across town or across the country, we are available to lend a hand you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Durham North Carolina 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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