Physician Home Loan Program Eagan 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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Whether or not you are a first time home buyer or buying a new home in Eagan Minnesota, our vetted loan officers have a solid understanding of the local area real estate market and what it really takes to close your physician mortgage with competency and know-how.

Our loan officers in Eagan Minnesota provide exclusive financing for doctors, exactly like you.

To start with, let’s discuss why physician mortgage loans even exist. The reason is that doctors are extremely 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 lock in early career doctors by loaning them more money with a lot fewer terms than their competitions.

Physician Home Mortgage Experts In Eagan Minnesota

If you are searching for a physician mortgage loan in Eagan Minnesota then you came to the right place.

You’ve trained very hard to become a doctor and buying 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 loan is a specialized loan program made just for doctors in the home buying process.

We are aware of the economic demands of your student loan financial debt, and how crucial it is to maintain working capital for when the time is right with starting your career. No matter if you are a couple years into practice, or a well established doctor, you can rely on us to find a mortgage loan that is specifically tailored for your needs.

A lot of doctors in Eagan Minnesota may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or very little to no work history.

Despite these factors smart loan providers know that doctors are a good choice because they historically have an exceptionally 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 talking with the best mortgage officer makes a significant difference.

Benefits of Physician Home Loans

  • Generally does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Generally does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve an agreement as evidence 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 Money Down?

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

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

In most instances, you’ll get your mortgage loan paid off sooner and save thousands on interest rates too.

Furthermore, don’t forget that having equity in your home will most likely offer more security and flexibility, particularly if something unanticipated happens. With the 100% financed physician home mortgage loan, you should anticipate to begin underwater. If something doesn’t 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 house.

Regardless of whether you’re moving down the street, across town or across the country, we are available to work with you all throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Eagan 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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