Physician Home Loan Program Madison Alabama

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

Our loan officers in al geo provide specialized financing for doctors, like you.

First off, let’s discuss why physician mortgage loans even exist. The reason is that doctors are really 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 stipulations than their competitions.

Physician Home Loan Experts In Madison Alabama

If you are looking for a physician mortgage in Madison Alabama then you came to the right 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 specifically for doctors?

Yup, doctors get their own mortgage!

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

We understand the personal financial demands of your student loan debt, and how vital 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 depend on us to find a home loan that is specially tailored for your needs.

Quite a few doctors in Madison Alabama 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 reasons smart loan providers know that doctors are a good choice due to the fact that they generally have an incredibly low nonpayment rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banks that do simply talking to the right home loan officer makes a remarkable difference.

Advantages of Physician Home Mortgage Loans

  • Typically 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 call for private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will approve an agreement as evidence of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

Purchasing a home doesn’t need to empty your savings and the process doesn’t need to drain your time.

Should You Put Money Down?

What if you have some cash to put down or are considering delaying until you have the money?

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

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

Furthermore, don’t overlook that having equity in your house will most likely provide greater security and overall flexibility, specifically if something unexpected happens. With the 100% financed physician home mortgage loan, you ought to anticipate to start out underwater. If something does not work out and you’re forced to sell quickly, you need to be prepared to write a potentially big check for up to 10% of the purchase price just to get out of the house.

No matter if you’re moving down the street, across town or across the country, we are available 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 Madison Alabama 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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