Physician Home Loan Program In Joliet Illinois

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 if you are a first time home buyer or buying a new home in Joliet Illinois, our vetted loan officers have a strong understanding of the local real estate market and what it takes to close your physician loan with efficiency and know-how.

Our loan officers in Joliet Illinois offer special financing for doctors, exactly like you.

First, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are really profitable customers for lenders. 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 lending them more money with a fewer number of stipulations than their competitions.

Physician Home Loan Experts In Joliet Illinois

If you are trying to find a physician home loan in Joliet Illinois then you came to the right place.

You’ve worked very hard to become a doctor and purchasing home shouldn’t 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 only for doctors?

Yup, doctors get their own loan!

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

We are aware of the personal financial demands of your student loan liability, and how essential it is to preserve working capital for when the time is right with starting your career. Regardless if you are a couple years into practice, or a well established doctor, you can depend on us to find a home loan that is exclusively tailored for your needs.

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

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

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

Advantages of Physician Home Loans

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

Purchasing a home 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 funds to put down or are looking at delaying until you have the cash?

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

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

Furthermore, don’t overlook that having equity in your home will provide more security and overall flexibility, specifically if something unanticipated 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’re forced to sell quickly, you should be prepared to write a potentially large check for as much as 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 all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Joliet Illinois 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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