Physician Home Loan Program Lowell Massachusetts

Regardless of whether our clients are a first time home buyer or purchasing a new home in Lowell Massachusetts, our vetted loan officers have a strong understanding of the local real estate industry and what it takes to secure your physician home loan with competency and know-how.

Our loan officers in Lowell Massachusetts offer specialized financing for doctors, just like you.

First, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very 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 secure early career doctors by lending them more money with fewer terms than their competitors.

Physician Home Loan Experts In Lowell Massachusetts

If you are looking for a physician loan in Lowell Massachusetts then you came to the right 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 only for doctors?

Yup, doctors get their own home loan!

A physician home loan is a specialty loan program created just for doctors in the home purchasing process.

We are aware of the personal financial demands of your student loan financial debt, and how vital it is to preserve working capital for when the time is right with launching your career. Whether you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is exclusively tailored for your needs.

A large number of physicians in Lowell Massachusetts may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or minimal to no work history.

Despite these factors smart loan providers 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 mortgage lenders offer this specialized product and within banks that do simply speaking to the right home loan officer makes a remarkable difference.

Benefits 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).
  • Usually does not necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will approve a contract as documentation of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Cash Down?

What if you have some cash to put down or are looking at waiting until you have the funds?

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

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

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

No matter if you are moving down the road, 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 home of your dreams with our Lowell Massachusetts physician loan program!

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

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