Physician Home Loan Program Hoboken 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 you are a first time home buyer or purchasing a new home in Hoboken New Jersey, our vetted loan officers have a strong understanding of the local real estate industry and what it takes to secure your physician home mortgage with proficiency and know-how.

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

First and foremost, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very profitable clients for lenders. 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 fewer number of requirements than their competitors.

Physician Home Loan Experts In Hoboken New Jersey

If you are looking for a physician loan in Hoboken New Jersey then you came to the perfect place.

You’ve worked 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 home loan!

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

We recognize the economic demands of your student loan debt, and how vital 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 count on us to find a mortgage loan that is specially tailored for your needs.

A lot of doctors in Hoboken New Jersey may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or minimal to no work history.

Despite these reasons smart loan providers know that doctors are a good bet considering that they traditionally have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

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

Advantages of Physician Home 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 necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will accept an agreement as evidence of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

Buying a home 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 cash to put down or are considering waiting until you have the cash?

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

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

Additionally, don’t forget that having equity in your house will most likely offer greater security and overall flexibility, especially if something unanticipated happens. With the 100% financed physician mortgage loan, you should anticipate to start out under water. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially large check for up to 10% of the purchase price just to get out of the home.

Whether you are relocating down the street, across town or across the country, we are right here to help you through the physician home loan process:: because you deserve it!

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

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