Physician Mortgage Irvine California

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 Irvine California, our vetted loan officers have a strong understanding of the local real estate industry and what it really requires to secure your physician loan with proficiency and know-how.

Our loan officers in Irvine California provide specialized financing for doctors, exactly like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The main 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 fewer number of stipulations than their competitions.

Physician Loan Experts In Irvine California

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

You’ve trained very hard to become a doctor and purchasing home 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 specifically for doctors?

Yup, doctors get their own loan!

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

We recognize the economic demands of your student loan liability, and how crucial it is to preserve 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.

A lot of physicians in Irvine California may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or very little to no work history.

Despite these factors smart lenders know that doctors are a good choice considering that they generally have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

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

Advantages of Physician Home Mortgage Loans

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

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

Should You Put Cash Down?

Suppose you have some money to put down or are thinking about waiting until you have the money?

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 loan paid off earlier and save thousands on interest too.

Furthermore, don’t overlook that having equity in your home will likely provide greater security and overall flexibility, specifically if something unexpected happens. With the 100% financed physician home mortgage loan, you ought to expect to begin under water. If something does not work out and you are forced to sell quickly, you should be prepared to write a potentially big check for up to 10% of the purchase price simply to get out of the house.

No matter if you are moving down the street, across town or across the country, we are available to work with you throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Irvine California 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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