Home Mortgage For Physicians In Lee’s Summit Missouri

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 our clients are a first time home buyer or purchasing a new home in Lee’s Summit Missouri, our vetted loan officers have a solid understanding of the local area real estate industry and what it requires to close your physician home loan with efficiency and expertise.

Our loan officers in Lee’s Summit Missouri provide exclusive financing for doctors, like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The reason is that doctors are extremely profitable clients for lending 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 far fewer terms than their competitions.

Physician Loan Experts In Lee’s Summit Missouri

If you are looking for a physician mortgage in Lee’s Summit Missouri then you came to the perfect place.

You’ve trained 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 loan is a customized loan program created just for doctors in the home buying process.

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

A large number of physicians in Lee’s Summit Missouri may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or very little to no work history.

Despite these factors smart financial institutions know that doctors are a good bet considering that they generally have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

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

Benefits of Physician Mortgage Loans

  • Typically 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 necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept an agreement as evidence of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

Suppose you have some money to put down or are considering waiting until you have the cash?

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

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

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

Regardless of whether you’re moving down the street, across town or across the country, we are here to lend a hand you throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Lee’s Summit Missouri physician home loan program!

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