Physician Loan In Lynchburg Virginia

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 purchasing a new home in Lynchburg Virginia, our vetted loan officers have a strong understanding of the local real estate market and what it really takes to secure your physician loan with efficiency and expertise.

Our loan officers in Lynchburg Virginia provide specialized financing for doctors, exactly like you.

To start with, let’s discuss why physician mortgage loans even exist. The reason is that doctors are very profitable customers 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 lending them more money with a lot fewer stipulations than their competitors.

Physician Home Loan Experts In Lynchburg Virginia

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

You’ve worked very hard to become a doctor and buying 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 mortgage is a specialized loan program put together just for doctors in the home purchasing process.

We recognize the financial demands of your student loan liability, and how important 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 count on us to find a home loan that is specifically tailored for your needs.

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

Despite these factors smart lending institutions 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 mortgage lenders offer this specialized product and within banking institutions that do simply consulting with the right mortgage officer makes a tremendous difference.

Benefits of Physician Home Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Often does not require private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will accept an agreement 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?

Suppose you have some money to put down or are considering waiting until you have the funds?

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

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

Additionally, don’t forget that having equity in your house will most likely offer greater security and overall flexibility, specifically if something unplanned happens. With the 100% financed physician mortgage loan, you should expect to begin underwater. If something doesn’t work out and you are forced to sell quickly, you need to be prepared to write a potentially large check for as much as 10% of the purchase price simply to get out of the home.

Regardless of whether you’re relocating down the road, across town or across the country, we are available to assist you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Lynchburg Virginia 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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