Physician Home Loan Program Freeport New York

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 of whether our clients are a first time home buyer or buying a new home in Freeport New York, 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 efficiency and know-how.

Our loan officers in Freeport New York offer exclusive financing for doctors, just like you.

First off, let’s discuss why physician mortgage loans even exist. The main 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 secure early career doctors by lending them more money with fewer stipulations than their competitors.

Physician Home Mortgage Experts In Freeport New York

If you are searching for a physician mortgage in Freeport New York then you came to the perfect 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 only for doctors?

Yup, doctors get their own loan!

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

We are aware of the budgetary demands of your student loan liability, and how crucial it is to preserve working capital for when the time is right with launching your career. No matter if you are a couple years into practice, or a well established doctor, you can count on us to find a mortgage loan that is specially tailored for your needs.

Many doctors in Freeport New York may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or very little to no work history.

Despite these reasons smart lending institutions know that doctors are a good bet considering that they historically have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do just simply talking to the right home loan officer makes a significant difference.

Advantages of Physician Mortgage Loans

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

Buying a home doesn’t need to empty your savings and the process doesn’t have to drain your time.

Should You Put Cash Down?

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

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

In most situations, you’ll get your mortgage paid off earlier and save thousands on interest too.

Additionally, don’t overlook that having equity in your house will definitely offer more security and overall flexibility, specifically if something unanticipated happens. With the 100% financed physician mortgage loan, you ought to expect to start out under water. If something doesn’t work out and you’re forced to sell quickly, you need to be prepared to write a potentially sizable check for up to 10% of the purchase price just to get out of the house.

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

Doctors, get the house of your dreams with our Freeport New York physician home loan program!

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