Physician Mortgage Harrisonburg 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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Whether or not our clients are a first time home buyer or buying a new home in Harrisonburg Virginia, our vetted loan officers have a solid understanding of the local area real estate market and what it requires to secure your physician mortgage with efficiency and know-how.

Our loan officers in Harrisonburg Virginia offer special financing for doctors, just like you.

First and foremost, let’s talk about 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 lock in early career doctors by lending them more money with a lot fewer requirements than their competitors.

Physician Home Mortgage Experts In Harrisonburg Virginia

If you are searching for a physician loan in Harrisonburg Virginia then you came to the right 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 just for doctors?

Yup, doctors get their own mortgage!

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

We recognize the budgetary demands of your student loan financial debt, and how essential it is to preserve 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 count on us to find a home loan that is specifically tailored for your needs.

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

Despite these reasons smart lenders 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 mortgage lenders offer this specialized product and within banks that do just simply talking with the right mortgage officer makes an enormous difference.

Benefits of Physician Mortgage Loans

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

Buying a house doesn’t need to drain 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 considering delaying until you have the money?

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

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

Additionally, don’t overlook that having equity in your house will most likely provide more security and overall flexibility, specifically if something unforeseen happens. With the 100% financed physician home mortgage loan, you ought to anticipate to begin under water. If something does not 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 just to get out of the house.

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

Doctors, get the home of your dreams with our Harrisonburg Virginia physician home loan program!

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

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