Physician Home Loan Program In Durham North Carolina

Regardless if our clients are a first time home buyer or buying a new home in Durham North Carolina, our vetted loan officers have a strong understanding of the local area real estate industry and what it really takes to close your physician home loan with competency and know-how.

Our loan officers in Durham North Carolina provide exclusive financing for doctors, like you.

To start with, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very profitable clients for lending 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 stipulations than their competition.

Physician Home Mortgage Experts In Durham North Carolina

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

You’ve trained very hard to become a doctor and purchasing home should not 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 specifically for doctors?

Yup, doctors get their own mortgage!

A physician 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 liability, and how essential it is to preserve 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 specifically tailored for your needs.

Many 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 financial debt or minimal to no work history.

Despite these reasons smart loan providers know that doctors are a good bet considering that they traditionally have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do simply talking with the right mortgage loan officer makes a remarkable difference.

Benefits of Physician Home Loans

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

Purchasing 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 considering waiting until you have the money?

Our mortgage lenders can do the math for you and show you what each scenario looks like and the benefits of each too.

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

Additionally, don’t overlook that having equity in your house will provide greater security and overall flexibility, especially if something unexpected happens. With the 100% financed physician home mortgage loan, you should expect to begin underwater. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially large check for up to 10% of the purchase price simply to get out of the home.

Regardless of whether you are relocating down the street, across town or across the country, we are available to lend a hand you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Durham North Carolina physician home loan program!

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