Physician Home Loan Kalamazoo Michigan

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 you are a first time home buyer or buying a new home in Kalamazoo Michigan, our vetted loan officers have a strong understanding of the local real estate industry and what it requires to close your physician home loan with competency and know-how.

Our loan officers in Kalamazoo Michigan provide special financing for doctors, like you.

First, let’s discuss why physician mortgage loans even exist. The reason is that doctors are really profitable clients for lenders. 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 lending them more money with a lot fewer requirements than their competitors.

Physician Home Mortgage Experts In Kalamazoo Michigan

If you are searching for a physician mortgage loan in Kalamazoo Michigan 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 loan!

A physician mortgage is a special loan program created just for doctors in the home purchasing process.

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

Many physicians in Kalamazoo Michigan 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 lending institutions know that doctors are a good choice due to the fact that they historically have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all banks offer this specialized product and within banks that do simply speaking with the best mortgage officer makes a significant difference.

Benefits of Physician Mortgage Loans

  • Generally 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 a contract as documentation of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

Purchasing a house doesn’t have 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 considering delaying until you have the funds?

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 earlier and save thousands of dollars on interest rates too.

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

No matter if you’re moving down the street, across town or across the country, we are here to assist you all throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Kalamazoo Michigan 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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