Physician Home Loan Gaithersburg Maryland

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 buying a new home in Gaithersburg Maryland, our vetted loan officers have a strong understanding of the local area real estate industry and what it takes to secure your physician loan with competency and know-how.

Our loan officers in Gaithersburg Maryland offer special financing for doctors, like you.

To start with, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are very profitable customers for financial 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 far fewer stipulations than their competitors.

Physician Mortgage Experts In Gaithersburg Maryland

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

You’ve trained 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 mortgage is a specialty loan program put together just for doctors in the home buying process.

We are aware of the economic demands of your student loan financial debt, and how important it is to maintain working capital for when the time is right with starting 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 mortgage loan that is specially tailored for your needs.

Quite a few doctors in Gaithersburg Maryland may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or minimal to no work history.

Despite these reasons smart loan providers know that doctors are a good bet because they traditionally have an incredibly low default rate on loans, high earning potential and stable jobs.

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

Advantages of Physician Home Mortgage Loans

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

Buying a house 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 money to put down or are looking at delaying until you have the cash?

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 circumstances, you’ll get your home loan paid off earlier and save thousands of dollars on interest too.

Furthermore, don’t forget that having equity in your home will likely provide greater security and overall flexibility, especially if something unforeseen happens. With the 100% financed physician mortgage loan, you ought to expect to begin underwater. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially sizable check for as much as 10% of the purchase price simply to get out of the house.

Regardless of whether you’re relocating down the road, across town or across the country, we are here to work with you all throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Gaithersburg Maryland physician loan program!

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