Physician Mortgage In Florence South Carolina

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 our clients are a first time home buyer or purchasing a new home in Florence South Carolina, our vetted loan officers have a strong understanding of the local real estate market and what it takes to close your physician loan with proficiency and know-how.

Our loan officers in Florence South Carolina offer specialized financing for doctors, just like you.

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

Physician Loan Experts In Florence South Carolina

If you are looking for a physician mortgage loan in Florence South Carolina then you came to the perfect place.

You’ve worked very hard to become a doctor and purchasing home really 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 home loan is a customized loan program created just for doctors in the home buying process.

We understand the personal financial demands of your student loan debt, and how crucial 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 depend on us to find a home loan that is exclusively tailored for your needs.

Quite a few doctors in Florence South Carolina may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or very little to no work history.

Despite these factors smart financial institutions know that doctors are a good choice because they typically have an incredibly low default rate on loans, high earning potential and stable jobs.

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

Benefits of Physician Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Often does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve a contract as proof of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

Purchasing a house 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 considering waiting until you have the money?

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

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

Additionally, don’t forget that having equity in your home will offer greater security and flexibility, specifically if something unexpected happens. With the 100% financed physician mortgage loan, you should anticipate to begin under water. If something does not work out and you are 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.

Whether you are moving down the street, across town or across the country, we are right here to assist you through the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Florence South Carolina physician home mortgage program!

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