Home Mortgage For Physician Hoover Alabama

Whether our clients are a first time home buyer or purchasing a new home in Hoover Alabama, our vetted loan officers have a solid understanding of the local real estate market and what it takes to secure your physician home mortgage with efficiency and know-how.

Our loan officers in al geo offer exclusive financing for doctors, exactly like you.

To start with, let’s discuss why physician mortgage loans even exist. The reason is that doctors are really profitable customers 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 loaning them more money with a lot fewer stipulations than their competitors.

Physician Home Mortgage Experts In Hoover Alabama

If you are searching for a physician home loan in Hoover Alabama then you came to the perfect place.

You’ve trained very hard to become a doctor and buying 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 home loan!

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

We are aware of the budgetary demands of your student loan debt, and how crucial it is to maintain 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 exclusively tailored for your needs.

Many doctors in Hoover Alabama 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 financial institutions know that doctors are a good choice because they historically have an exceptionally low default rate on loans, high earning potential and stable jobs.

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

Advantages of Physician Mortgage Loans

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

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

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

In most situations, 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 likely provide greater security and flexibility, especially if something unplanned happens. With the 100% financed physician mortgage loan, you ought to expect to start out underwater. 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 simply to get out of the house.

Whether you are moving down the road, across town or across the country, we are available to work with you through the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Hoover Alabama physician loan program!

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

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