Physician Home Loan Program In Louisville 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 if you are a first time home buyer or purchasing a new home in Louisville Kentucky, our vetted loan officers have a solid understanding of the local area real estate market and what it really takes to close your physician mortgage with competency and expertise.

Our loan officers in Louisville Kentucky provide special financing for doctors, like you.

First off, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very 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 loaning them more money with a lot fewer terms than their competitors.

Physician Home Loan Experts In Louisville Kentucky

If you are looking for a physician home loan in Louisville Kentucky then you came to the perfect place.

You’ve trained very hard to become a doctor and purchasing home shouldn’t 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 specifically for doctors?

Yup, doctors get their own loan!

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

We are aware of the financial demands of your student loan financial debt, and how important it is to preserve 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 count on us to find a home loan that is exclusively tailored for your needs.

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

Despite these reasons smart loan providers know that doctors are a good choice because they generally have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do simply speaking to the right mortgage officer makes a tremendous difference.

Advantages of Physician Home Mortgage Loans

  • Usually does not include student loan monthly payments in debt-to-income ratio.
  • 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 evidence of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

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

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

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

Additionally, don’t forget that having equity in your house will most likely provide more security and flexibility, especially if something unplanned happens. With the 100% financed physician mortgage loan, you should anticipate to start out underwater. If something does not work out and you are forced to sell quickly, you need to be prepared to write a potentially big check for as much as 10% of the purchase price simply to get out of the house.

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

Doctors, get the house of your dreams with our Louisville 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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