Physician Loan In Jersey City New Jersey

Preferred Physician Loan Officer

Jim Webster
NMLS# 658933
Mobile: (240) 620-1414
Email: jwebster@fultonmortgagecompany.com
Website: www.fultonmortgagecompany.com/jimwebster

  • Available terms 15 year fixed, 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM and 15/1ARM
  • 100% financing to $1,500,000
  • 700 minimum credit score
  • No Mortgage Insurance
  • Signed employment contract with guaranteed income allowed for qualifying if start of new job is not more than 60 days from settlement of home purchase
  • Available for MD, DO, DMD, PHARMD, DVM and DDS
  • Residents and Fellows allowed student loans deferred for 12 months not counted in debt to income ratio
  • Practicing Doctors must not be out of Residency more than 10 years unless they are relocating for a new job
  • Self-employed or RVU paid doctors need 2 years filed federal tax returns for income qualification
  • Bank checking account with auto mortgage payment from that account required.
Get Your Physician Loan Rates Now by Completing the Form Below.

Whether or not our clients are a first time home buyer or purchasing a new home in Jersey City New Jersey, our vetted loan officers have a strong understanding of the local area real estate industry and what it really takes to close your physician home loan with efficiency and know-how.

Our loan officers in Jersey City New Jersey offer special financing for doctors, just like you.

First off, let’s talk about why physician mortgage loans even exist. The reason is that doctors are extremely profitable customers for financial institutions. They take out big loans early in their careers and almost always pay them off. Lenders use physician home loans to secure early career doctors by loaning them more money with fewer terms than their competitions.

Physician Loan Experts In Jersey City New Jersey

If you are searching for a physician mortgage loan in Jersey City New Jersey then you came to the right 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 home loan is a specialized loan program created just for doctors in the home purchasing process.

We understand the personal financial demands of your student loan financial obligation, and how vital it is to preserve working capital for when the time is right with launching your career. Regardless if you are a couple years into practice, or a well established doctor, you can count on us to find a home loan that is specifically tailored for your needs.

A large number of doctors in Jersey City 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 historically have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do simply talking with the right home loan officer makes an enormous difference.

Benefits of Physician Home Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Generally does not require private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept an agreement as proof of future earnings, in lieu 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 have to drain your time.

Should You Put Cash Down?

What if you have some cash 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 circumstances, you’ll get your mortgage loan paid off earlier and save thousands on interest too.

Additionally, don’t overlook that having equity in your home will offer more security and flexibility, especially if something unanticipated happens. With the 100% financed physician home mortgage loan, you ought to expect to begin under water. If something doesn’t work out and you are 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.

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

Doctors, get the house of your dreams with our Jersey City New Jersey physician home mortgage program!

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