Home Mortgage For Physician Lansing 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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Regardless of whether our clients are a first time home buyer or purchasing a new home in Lansing Michigan, our vetted loan officers have a strong understanding of the local area real estate market and what it requires to secure your physician home loan with proficiency and expertise.

Our loan officers in Lansing Michigan offer 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 customers 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 lending them more money with fewer terms than their competitions.

Physician Mortgage Experts In Lansing Michigan

If you are trying to find a physician mortgage in Lansing 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 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 home loan!

A physician home mortgage is a specialty loan program developed just for doctors in the home buying process.

We are aware of the economic demands of your student loan financial debt, and how vital it is to preserve working capital for when the time is right with embarking upon your career. Regardless if you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is specially tailored for your needs.

Many physicians in Lansing Michigan may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or little to no work history.

Despite these reasons smart lenders know that doctors are a good bet because they traditionally have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

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

Benefits of Physician Home Mortgage Loans

  • Usually does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Often does not necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will accept an agreement as evidence of future earnings, in lieu of pay stubs or W-2s, that 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 Money Down?

What if you have some funds to put down or are considering delaying until you have the cash?

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

In most cases, 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 house will definitely offer greater security and flexibility, particularly if something unplanned happens. With the 100% financed physician mortgage loan, you should anticipate to begin under water. If something doesn’t work out and you are forced to sell quickly, you need to be prepared to write a potentially sizable check for as much as 10% of the purchase price just to get out of the home.

Whether you are moving down the street, across town or across the country, we are available to lend a hand you throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Lansing Michigan physician home mortgage program!

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