Home Mortgage For Physicians In Edina 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 if you are a first time home buyer or purchasing a new home in Edina Minnesota, our vetted loan officers have a solid understanding of the local area real estate industry and what it takes to secure your physician mortgage with competency and expertise.

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

First off, let’s talk about 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 loaning them more money with a fewer number of terms than their competitors.

Physician Loan Experts In Edina Minnesota

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

You’ve worked very hard to become a doctor and buying home shouldn’t 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 just for doctors?

Yup, doctors get their own mortgage!

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

We understand the personal financial demands of your student loan debt, and how important it is to preserve working capital for when the time is right with launching your career. Whether 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.

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

Despite these factors smart financial institutions know that doctors are a good bet due to the fact that they generally have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banks that do just simply speaking with the best home loan officer makes a significant difference.

Advantages of Physician Home Loans

  • Typically does not include student loan monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Typically does not call for private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve a contract as evidence of future earnings, instead 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 have to drain your time.

Should You Put Money Down?

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

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

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

Additionally, don’t overlook that having equity in your home will offer more security and overall flexibility, especially if something unplanned happens. With the 100% financed physician home mortgage loan, you should anticipate to begin under water. If something doesn’t work out and you’re forced to sell quickly, you need to be prepared to write a potentially big check for as much as 10% of the purchase price simply to get out of the home.

Regardless of whether you are moving down the road, across town or across the country, we are here to assist you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Edina Minnesota 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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