Home Mortgage For Physician Elizabeth New Jersey

Preferred Physician Loan Officer

Jim Webster
NMLS# 658933
Mobile: (240) 620-1414
Email: jwebster@fultonmortgagecompany.com
Website: www.fultonmortgagecompany.com/jimwebster

  • Available terms 15 year fixed, 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM and 15/1ARM
  • 100% financing to $1,500,000
  • 700 minimum credit score
  • No Mortgage Insurance
  • Signed employment contract with guaranteed income allowed for qualifying if start of new job is not more than 60 days from settlement of home purchase
  • Available for MD, DO, DMD, PHARMD, DVM and DDS
  • Residents and Fellows allowed student loans deferred for 12 months not counted in debt to income ratio
  • Practicing Doctors must not be out of Residency more than 10 years unless they are relocating for a new job
  • Self-employed or RVU paid doctors need 2 years filed federal tax returns for income qualification
  • Bank checking account with auto mortgage payment from that account required.
Get Your Physician Loan Rates Now by Completing the Form Below.

Whether you are a first time home buyer or buying a new home in Elizabeth New Jersey, our vetted loan officers have a strong understanding of the local area real estate market and what it requires to close your physician home mortgage with proficiency and expertise.

Our loan officers in Elizabeth New Jersey provide exclusive financing for doctors, like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The reason is that doctors are very 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 fewer stipulations than their competitions.

Physician Home Mortgage Experts In Elizabeth New Jersey

If you are searching for a physician loan in Elizabeth New Jersey then you came to the perfect place.

You’ve trained very hard to become a doctor and buying home 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 mortgage!

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

We understand the economic demands of your student loan financial obligation, and how vital it is to preserve working capital for when the time is right with embarking upon 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 home loan that is specially tailored for your needs.

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

Despite these factors smart lenders know that doctors are a good choice considering that they typically have an incredibly low nonpayment rate on loans, high earning potential and secure jobs.

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

Advantages of Physician Home Loans

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

Purchasing a house 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 cash to put down or are considering delaying until you have the money?

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 too.

Additionally, don’t forget 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 ought to expect 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 sizable check for as much as 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 right here 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 Elizabeth New Jersey 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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