Home Mortgage For Physicians In Kearny 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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Regardless if our clients are a first time home buyer or purchasing a new home in Kearny New Jersey, our vetted loan officers have a solid understanding of the local area real estate industry and what it really requires to secure your physician mortgage with efficiency and know-how.

Our loan officers in Kearny New Jersey provide specialized financing for doctors, just like you.

To start with, 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 secure early career doctors by loaning them more money with far fewer requirements than their competitions.

Physician Home Mortgage Experts In Kearny New Jersey

If you are searching for a physician mortgage loan in Kearny New Jersey then you came to the right place.

You’ve trained 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 only for doctors?

Yup, doctors get their own mortgage!

A physician loan is a customized loan program created just for doctors in the home buying process.

We recognize the economic 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. No matter if you are a couple years into practice, or a well established doctor, you can count on us to find a mortgage loan that is exclusively tailored for your needs.

A large number of physicians in Kearny New Jersey 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 because they traditionally have an incredibly low default rate on loans, high earning potential and secure jobs.

Not all lenders offer this specialized product and within banking institutions that do just simply talking to the right home loan officer makes a significant difference.

Benefits of Physician Mortgage Loans

  • Usually does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires very 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 documentation of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Cash Down?

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

Our loan providers can do the math for you and show you what each circumstance looks like and the benefits of each too.

In most situations, you’ll get your mortgage loan paid off sooner and save thousands of dollars on interest rates too.

Additionally, don’t forget that having equity in your house will likely offer more security and flexibility, especially if something unanticipated happens. With the 100% financed physician home mortgage loan, you should 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 sizable check for as much as 10% of the purchase price just to get out of the house.

No matter if you are relocating down the street, across town or across the country, we are available to help you throughout the physician home mortgage process:: because you deserve it!

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

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