Physician Mortgage Hackensack New Jersey

Preferred Physician Loan Officer

Jim Webster
NMLS# 658933
Mobile: (240) 620-1414
Email: jwebster@fultonmortgagecompany.com
Website: www.fultonmortgagecompany.com/jimwebster

  • Available terms 15 year fixed, 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM and 15/1ARM
  • 100% financing to $1,500,000
  • 700 minimum credit score
  • No Mortgage Insurance
  • Signed employment contract with guaranteed income allowed for qualifying if start of new job is not more than 60 days from settlement of home purchase
  • Available for MD, DO, DMD, PHARMD, DVM and DDS
  • Residents and Fellows allowed student loans deferred for 12 months not counted in debt to income ratio
  • Practicing Doctors must not be out of Residency more than 10 years unless they are relocating for a new job
  • Self-employed or RVU paid doctors need 2 years filed federal tax returns for income qualification
  • Bank checking account with auto mortgage payment from that account required.
Get Your Physician Loan Rates Now by Completing the Form Below.

Whether or not you are a first time home buyer or buying a new home in Hackensack New Jersey, our vetted loan officers have a solid understanding of the local real estate industry and what it takes to close your physician home loan with proficiency and know-how.

Our loan officers in Hackensack New Jersey offer special financing for doctors, like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The reason is that doctors are extremely 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 lock in early career doctors by lending them more money with far fewer stipulations than their competitions.

Physician Home Loan Experts In Hackensack New Jersey

If you are looking for a physician home loan in Hackensack New Jersey then you came to the right place.

You’ve trained very hard to become a doctor and purchasing 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 mortgage is a specialized loan program put together just for doctors in the home purchasing process.

We understand the 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. Whether 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.

A large number of doctors in Hackensack New Jersey may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation or very little to no work history.

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

Not all lenders offer this specialized product and within banks that do simply speaking to the best mortgage officer makes an enormous difference.

Benefits of Physician Home Mortgage Loans

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

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

Should You Put Cash Down?

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

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

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

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

Whether you’re relocating down the street, across town or across the country, we are right here to work with you throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Hackensack New Jersey physician loan program!

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