Home Mortgage For Physician Hampton Virginia

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 our clients are a first time home buyer or purchasing a new home in Hampton Virginia, our vetted loan officers have a strong understanding of the local area real estate industry and what it really takes to close your physician loan with proficiency and know-how.

Our loan officers in Hampton Virginia provide specialized financing for doctors, just 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 fewer requirements than their competitions.

Physician Mortgage Experts In Hampton Virginia

If you are looking for a physician loan in Hampton Virginia then you came to the right place.

You’ve worked 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 just for doctors?

Yup, doctors get their own mortgage!

A physician loan is a specialty loan program put together just for doctors in the home buying process.

We recognize the personal financial demands of your student loan financial debt, and how crucial it is to preserve working capital for when the time is right with launching 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 specifically tailored for your needs.

Quite a few physicians in Hampton Virginia may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or minimal to no work history.

Despite these reasons smart lending institutions know that doctors are a good choice because they traditionally have an incredibly low default rate on loans, high earning potential and secure jobs.

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

Benefits of Physician Home Mortgage Loans

  • Usually does not include student loan monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Often does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve a contract as evidence of future earnings, in lieu of pay stubs or W-2s, which 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 Money Down?

What if you have some funds to put down or are thinking about delaying until you have the cash?

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

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

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

Regardless of whether you are moving down the road, across town or across the country, we are available to lend a hand you all throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Hampton Virginia physician home mortgage program!

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

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