Physician Home Loan Program In Garland Texas

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 purchasing a new home in Garland Texas, our vetted loan officers have a strong understanding of the local area real estate industry and what it really takes to secure your physician home loan with proficiency and know-how.

Our loan officers in Garland Texas 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 extremely profitable customers for lenders. 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 competitions.

Physician Loan Experts In Garland Texas

If you are searching for a physician mortgage in Garland Texas then you came to the perfect place.

You’ve worked very hard to become a doctor and buying home shouldn’t 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 only for doctors?

Yup, doctors get their own loan!

A physician home loan is a specialized loan program created just for doctors in the home buying process.

We understand the personal financial demands of your student loan financial obligation, and how crucial it is to maintain working capital for when the time is right with starting your career. Regardless 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.

Many doctors in Garland Texas 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 financial institutions know that doctors are a good choice considering that they generally have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

Not all lenders offer this specialized product and within banks that do simply consulting with the right mortgage loan officer makes a tremendous difference.

Benefits of Physician Home Mortgage Loans

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

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

Should You Put Cash Down?

What if you have some funds to put down or are considering delaying until you have the funds?

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

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

Additionally, don’t forget that having equity in your home will definitely provide greater security and overall flexibility, especially if something unexpected happens. With the 100% financed physician mortgage loan, you should anticipate to start out underwater. If something doesn’t work out and you’re forced to sell quickly, you need to be prepared to write a potentially big check for up to 10% of the purchase price simply to get out of the house.

No matter if you are moving down the road, across town or across the country, we are available to assist you throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Garland Texas physician home loan program!

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