Regardless if our clients are a first time home buyer or buying a new home in Kannapolis North Carolina, our vetted loan officers have a solid understanding of the local area real estate market and what it takes to secure your physician loan with proficiency and know-how.
Our loan officers in Kannapolis North Carolina offer special financing for doctors, just like you.
To start with, let’s talk about why physician mortgage loans even exist. The reason is that doctors are really profitable clients for financial 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 lot fewer requirements than their competitors.
Physician Mortgage Experts In Kannapolis North Carolina
If you are trying to find a physician mortgage in Kannapolis North Carolina then you came to the right place.
You’ve worked very hard to become a doctor and purchasing home 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 home loan is a customized loan program designed just for doctors in the home purchasing process.
We are aware of the economic demands of your student loan financial debt, and how crucial it is to maintain working capital for when the time is right with launching your career. Whether or not 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.
A large number of physicians in Kannapolis North Carolina may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or minimal to no work history.
Despite these reasons smart loan providers know that doctors are a good choice due to the fact that they generally have an extremely low nonpayment rate on loans, high earning potential and secure jobs.
Not all lenders offer this specialized product and within banks that do simply talking with the best mortgage officer makes a remarkable difference.
Benefits of Physician Home Mortgage Loans
- Typically does not include student loan regular monthly payments in debt-to-income percentage.
- Requires low to no down payment (0-5 percent).
- Often does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
- Will accept an agreement as evidence of future earnings, instead of pay stubs or W-2s, which don’t yet exist.
Buying a home 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 cash to put down or are thinking about waiting until you have the cash?
Our lenders can do the math for you and show you what each circumstance looks like and the benefits of each too.
In most circumstances, you’ll get your home mortgage paid off sooner and save thousands on interest rates too.
Furthermore, don’t overlook that having equity in your house will likely offer greater security and overall flexibility, particularly if something unexpected happens. With the 100% financed physician home mortgage loan, you ought to expect to start out underwater. If something doesn’t 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 home.
Regardless of whether you’re relocating down the road, across town or across the country, we are here to help you through the physician home mortgage process:: because you deserve it!
Doctors, get the house of your dreams with our Kannapolis North Carolina physician home loan program!