Physician Home Loan Program Lawrence Indiana

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 you are a first time home buyer or buying a new home in Lawrence Indiana, our vetted loan officers have a strong understanding of the local real estate market and what it really requires to secure your physician home mortgage with competency and expertise.

Our loan officers in Lawrence Indiana offer exclusive financing for doctors, just like you.

First, let’s talk about why physician mortgage loans even exist. The reason is that doctors are really profitable customers 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 lending them more money with a lot fewer stipulations than their competitions.

Physician Mortgage Experts In Lawrence Indiana

If you are trying to find a physician mortgage in Lawrence Indiana 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 just for doctors?

Yup, doctors get their own loan!

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

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

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

Despite these factors smart financial institutions know that doctors are a good choice due to the fact that they generally have an incredibly 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 talking with the right home loan officer makes a tremendous difference.

Advantages of Physician Home Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires very low 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 proof of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Money Down?

What if you have some money to put down or are looking at waiting until you have the cash?

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

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

Furthermore, don’t overlook that having equity in your house will definitely provide more security and flexibility, particularly if something unplanned happens. With the 100% financed physician mortgage loan, you should expect to begin underwater. 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 simply to get out of the home.

Whether you are relocating down the road, across town or across the country, we are available to work with you through the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Lawrence Indiana physician loan program!

Less than an hour ago, doctors just like you requested a loan from the locations listed below.

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