Physician Loan In Iowa City Iowa

Regardless of whether you are a first time home buyer or purchasing a new home in Iowa City Iowa, our vetted loan officers have a solid understanding of the local area real estate industry and what it really requires to close your physician home mortgage with proficiency and expertise.

Our loan officers in Iowa City Iowa provide specialized financing for doctors, just like you.

To start with, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are extremely profitable clients for financial 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 fewer number of terms than their competition.

Physician Loan Experts In Iowa City Iowa

If you are looking for a physician home loan in Iowa City Iowa 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 only for doctors?

Yup, doctors get their own loan!

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

We recognize the budgetary demands of your student loan financial obligation, and how essential it is to maintain working capital for when the time is right with launching your career. No matter if you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is specially tailored for your needs.

Quite a few doctors in Iowa City Iowa 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 factors smart lending institutions know that doctors are a good bet due to the fact that they typically have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banking institutions that do just simply talking with the right home loan officer makes a tremendous difference.

Advantages of Physician Mortgage Loans

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

Purchasing a house doesn’t have to empty your savings and the process doesn’t need to drain your time.

Should You Put Cash Down?

Suppose you have some cash to put down or are looking at waiting until you have the money?

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

Additionally, don’t forget that having equity in your home will most likely offer more security and overall flexibility, specifically if something unanticipated happens. With the 100% financed physician mortgage loan, you should expect to begin underwater. If something does not work out and you are forced to sell quickly, you need to be prepared to write a potentially sizable check for as much as 10% of the purchase price just to get out of the house.

Whether you’re relocating down the road, across town or across the country, we are here to help you throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Iowa City Iowa 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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