Physician Mortgage In Lexington Kentucky

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 buying a new home in Lexington Kentucky, our vetted loan officers have a strong understanding of the local real estate market and what it requires to close your physician home loan with competency and expertise.

Our loan officers in Lexington Kentucky provide specialized financing for doctors, exactly like you.

First, let’s talk about why physician mortgage loans even exist. The reason is that doctors are very 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 lending them more money with far fewer requirements than their competitions.

Physician Home Loan Experts In Lexington Kentucky

If you are searching for a physician loan in Lexington Kentucky then you came to the right place.

You’ve trained very hard to become a doctor and buying 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 mortgage!

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

We are aware of the personal financial demands of your student loan liability, and how crucial it is to maintain working capital for when the time is right with embarking upon your career. Whether you are a couple years into practice, or a well established doctor, you can count on us to find a home loan that is specifically tailored for your needs.

A large number of doctors in Lexington Kentucky may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or little to no work history.

Despite these reasons smart lending institutions know that doctors are a good choice considering that they typically have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banking institutions that do simply talking with the best home loan officer makes an enormous difference.

Advantages of Physician Mortgage Loans

  • Usually does not include student loan regular monthly payments in debt-to-income ratio.
  • 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 approve a contract as documentation of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

What if you have some money to put down or are considering waiting until you have the money?

Our lenders 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 too.

Furthermore, don’t overlook that having equity in your house will offer more 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’re forced to sell quickly, you should be prepared to write a potentially big check for up to 10% of the purchase price just to get out of the home.

No matter if you’re moving down the street, across town or across the country, we are here to lend a hand you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Lexington Kentucky physician home mortgage program!

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

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