Physician Home Loan Program In Hempstead New York

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 of whether you are a first time home buyer or purchasing a new home in Hempstead New York, our vetted loan officers have a solid understanding of the local real estate market and what it requires to close your physician home mortgage with competency and expertise.

Our loan officers in Hempstead New York provide 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 clients 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 loaning them more money with a lot fewer terms than their competitions.

Physician Loan Experts In Hempstead New York

If you are trying to find a physician loan in Hempstead New York then you came to the right place.

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

We are aware of the personal financial demands of your student loan financial obligation, and how vital it is to preserve working capital for when the time is right with starting your career. Whether or not 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.

Many physicians in Hempstead New York may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial debt or minimal to no work history.

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

Not all banks offer this specialized product and within banking institutions that do just simply speaking with the best mortgage loan officer makes a remarkable difference.

Advantages of Physician Mortgage Loans

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

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

Should You Put Cash Down?

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

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

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

Additionally, don’t overlook that having equity in your house will definitely offer greater security and overall flexibility, especially if something unforeseen happens. With the 100% financed physician home mortgage loan, you should anticipate to start out under water. 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 just to get out of the house.

Whether you are moving down the street, across town or across the country, we are here to lend a hand you throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Hempstead New York physician loan program!

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