Physician Loan In Jersey City New Jersey

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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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 solid understanding of the local area real estate market and what it takes to close your physician loan with efficiency and expertise.

Our loan officers in Jersey City New Jersey provide specialized financing for doctors, exactly like you.

First off, let’s discuss why physician mortgage loans even exist. The reason is that doctors are really 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 secure early career doctors by loaning them more money with a fewer number of stipulations than their competitions.

Physician Home Mortgage Experts In Jersey City New Jersey

If you are looking for a physician home loan in Jersey City New Jersey 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 just for doctors?

Yup, doctors get their own mortgage!

A physician home mortgage is a specialty loan program made just for doctors 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 embarking upon 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 mortgage loan that is specifically tailored for your needs.

Many 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 very little to no work history.

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

Not all financial institutions offer this specialized product and within banking institutions that do just simply speaking to the right home loan officer makes an enormous difference.

Benefits of Physician Home Loans

  • Generally does not include student loan monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Usually 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.

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

Should You Put Money Down?

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

Our loan providers 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 home loan paid off sooner and save thousands on interest rates too.

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

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

Doctors, get the house of your dreams with our Jersey City New Jersey 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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