Physician Home Loan Florence Alabama

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 you are a first time home buyer or buying a new home in Florence Alabama, our vetted loan officers have a strong understanding of the local real estate market and what it requires to secure your physician loan with competency and know-how.

Our loan officers in al geo offer specialized financing for doctors, like you.

First, let’s talk about why physician mortgage loans even exist. The 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 secure early career doctors by lending them more money with a lot fewer requirements than their competitors.

Physician Home Mortgage Experts In Florence Alabama

If you are trying to find a physician mortgage loan in Florence Alabama then you came to the perfect place.

You’ve worked 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 just for doctors?

Yup, doctors get their own loan!

A physician home loan is a special loan program put together just for doctors in the home buying process.

We are aware of the budgetary demands of your student loan financial debt, and how essential it is to maintain 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 count on us to find a home loan that is specially tailored for your needs.

A lot of physicians in Florence Alabama may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial debt or little to no work history.

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

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

Benefits of Physician Home Mortgage Loans

  • Typically does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Typically does not necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will approve a contract as proof of future earnings, instead of pay stubs or W-2s, which 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 money to put down or are considering waiting until you have the funds?

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

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

Furthermore, don’t forget that having equity in your house will offer greater security and flexibility, especially if something unanticipated happens. With the 100% financed physician home mortgage loan, you should anticipate to start out underwater. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially big 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 here to assist you all throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Florence Alabama 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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