Physician Loan In Livonia Michigan

Regardless of whether our clients are a first time home buyer or purchasing a new home in Livonia Michigan, our vetted loan officers have a solid understanding of the local area real estate market and what it requires to secure your physician mortgage with competency and expertise.

Our loan officers in Livonia Michigan offer specialized financing for doctors, like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are extremely profitable clients 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 fewer stipulations than their competition.

Physician Home Loan Experts In Livonia Michigan

If you are trying to find a physician mortgage in Livonia Michigan then you came to the perfect place.

You’ve trained very hard to become a doctor and purchasing home 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 specifically for doctors?

Yup, doctors get their own home loan!

A physician home loan is a customized loan program put together just for doctors in the home purchasing process.

We recognize the financial demands of your student loan financial debt, and how crucial it is to maintain working capital for when the time is right with launching your career. Whether or not 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.

Quite a few doctors in Livonia Michigan may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or little to no work history.

Despite these reasons smart lending institutions know that doctors are a good choice because they traditionally have an incredibly low default rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banking institutions that do simply speaking with the right mortgage loan officer makes an enormous difference.

Benefits of Physician Home Loans

  • Typically does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Typically does not require private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will accept a contract as documentation of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

What if you have some funds to put down or are thinking about waiting until you have the money?

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

In most instances, you’ll get your home loan paid off sooner and save thousands on interest too.

Furthermore, don’t overlook that having equity in your house will likely provide more security and flexibility, especially if something unforeseen happens. With the 100% financed physician home mortgage loan, you ought to expect to begin underwater. If something doesn’t work out and you are 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.

No matter if you are relocating down the road, across town or across the country, we are here to assist you throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Livonia Michigan 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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