Physician Mortgage In Lubbock Texas

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 our clients are a first time home buyer or buying a new home in Lubbock Texas, our vetted loan officers have a solid understanding of the local area real estate market and what it requires to close your physician loan with proficiency and know-how.

Our loan officers in Lubbock Texas provide specialized financing for doctors, just like you.

To start with, let’s talk about why physician mortgage loans even exist. The 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 loaning them more money with fewer requirements than their competitors.

Physician Loan Experts In Lubbock Texas

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

You’ve trained very hard to become a doctor and buying 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 only for doctors?

Yup, doctors get their own mortgage!

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

We understand the personal financial demands of your student loan financial obligation, and how essential it is to maintain working capital for when the time is right with starting 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 mortgage loan that is specifically tailored for your needs.

A lot of physicians in Lubbock Texas may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or very little to no work history.

Despite these factors smart lending institutions know that doctors are a good choice due to the fact that they generally have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

Not all financial institutions offer this specialized product and within banking institutions that do simply speaking to the best home loan officer makes a significant difference.

Advantages of Physician Home Loans

  • Generally does not include student loan monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Often does not require private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will accept a contract as evidence of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

Purchasing a home doesn’t have to empty 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 looking at waiting until you have the money?

Our mortgage 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 mortgage paid off earlier and save thousands of dollars on interest rates too.

Furthermore, don’t forget that having equity in your house will offer more security and flexibility, especially if something unanticipated 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 should be prepared to write a potentially large check for up to 10% of the purchase price simply to get out of the home.

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

Doctors, get the house of your dreams with our Lubbock Texas physician loan program!

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

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