Physician Mortgage Hackensack New Jersey

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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Whether or not our clients are a first time home buyer or purchasing a new home in Hackensack New Jersey, our vetted loan officers have a strong understanding of the local real estate market and what it takes to secure your physician loan with efficiency and know-how.

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

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

Physician Mortgage Experts In Hackensack New Jersey

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

You’ve trained 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 specifically for doctors?

Yup, doctors get their own mortgage!

A physician loan is a specialty loan program created just for doctors in the home purchasing process.

We recognize 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 embarking upon your career. No matter if you are a couple years into practice, or a well established doctor, you can depend on us to find a home loan that is specially 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 debt or little to no work history.

Despite these factors smart lenders know that doctors are a good choice considering that they historically have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

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

Advantages of Physician Home Loans

  • Usually does not include student loan monthly payments in debt-to-income ratio.
  • Requires very low 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 an agreement as evidence of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Cash Down?

Suppose you have some money to put down or are thinking about delaying until you have the funds?

Our 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 loan paid off earlier and save thousands of dollars on interest too.

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

No matter if you’re moving down the street, across town or across the country, we are 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!

Less than an hour ago, doctors just like you requested a loan from the locations listed below.

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