Physician Loan In Los Angeles California

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 you are a first time home buyer or buying a new home in Los Angeles California, our vetted loan officers have a solid understanding of the local real estate market and what it really takes to close your physician home loan with proficiency and know-how.

Our loan officers in Los Angeles California offer specialized financing for doctors, just 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 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 loaning them more money with a lot fewer requirements than their competitions.

Physician Home Loan Experts In Los Angeles California

If you are trying to find a physician home loan in Los Angeles California then you came to the perfect 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 just for doctors?

Yup, doctors get their own home loan!

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

We recognize the economic demands of your student loan liability, and how essential it is to maintain 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 specifically tailored for your needs.

Quite a few doctors in Los Angeles California 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 lending institutions know that doctors are a good bet considering that they historically have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

Not all banks offer this specialized product and within banks that do simply talking with the best mortgage officer makes a remarkable difference.

Advantages of Physician Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Usually does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve a contract as proof of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

Purchasing a home 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 money to put down or are considering waiting until you have the cash?

Our lenders can do the math for you and show you what each situation 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 too.

Furthermore, don’t forget that having equity in your house will likely offer greater security and overall flexibility, particularly if something unplanned happens. With the 100% financed physician home mortgage loan, you ought to expect to start out underwater. If something doesn’t work out and you’re forced to sell quickly, you need to be prepared to write a potentially big check for as much as 10% of the purchase price just to get out of the house.

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

Doctors, get the home of your dreams with our Los Angeles California physician home loan program!

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