Physician Loan Iowa

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

Our loan officers in Iowa 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 very profitable customers for financial institutions. They take out big loans early in their careers and almost always pay them off. Lenders use doctor loans to secure early career doctors by loaning them more money with far fewer terms than their competitors.

Physician Home Mortgage Experts In Iowa

If you are looking for a physician mortgage loan in Iowa then you came to the right place.

You’ve worked very hard to become a doctor and buying home should not be nearly as difficult.

Did you know there is a special loan that makes it easy for physicians to buy a home?

A home loan just for doctors?

Yup, doctors get their own home loan!

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

We recognize the personal financial demands of your student loan financial obligation, and how essential it is to preserve working capital for when the time is right with launching your career. Whether you are a couple years into practice, or a well established physician, you can depend on us to find a home loan that is specially tailored for your needs.

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

Despite these factors smart lenders know that doctors are a good bet considering that they typically have an extremely low default rate on loans, high earning potential and stable jobs.

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

Advantages of Physician Home Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income ratio.
  • Typically 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.
  • Usually will approve a contract as evidence of future earnings, instead 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 need to drain your time.

Should You Put Money Down?

What if you have some money to put down or are considering delaying until you have the cash?

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

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

Furthermore, don’t overlook that having equity in your house will definitely offer more security and flexibility, specifically if something unanticipated happens. With the 100% financed physician mortgage loan, you ought to expect to begin underwater. If something does not 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 home.

Regardless of whether you are relocating down the street, across town or across the country, we are right here to lend a hand you all throughout the physician home loan process:: because you deserve it!

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

Top cities in Iowa for a physician loan.

Ames
Ankeny
Cedar Falls
Cedar Rapids
Council Bluffs
Davenport
Des Moines
Dubuque
Iowa City
Sioux City
Urbandale
Waterloo
West Des Moines