Physician Home Loan Program Madison Alabama

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 of whether you are a first time home buyer or buying a new home in Madison Alabama, our vetted loan officers have a strong understanding of the local real estate industry and what it really takes to close your physician home mortgage with efficiency and expertise.

Our loan officers in al geo 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 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 far fewer terms than their competitions.

Physician Home Loan Experts In Madison Alabama

If you are searching for a physician loan in Madison Alabama then you came to the perfect 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 special loan program developed just for doctors in the home buying process.

We understand the financial demands of your student loan debt, and how important it is to maintain working capital for when the time is right with embarking upon your career. No matter if you are a couple years into practice, or a well established doctor, you can count on us to find a mortgage loan that is specifically tailored for your needs.

Many 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 financial institutions know that doctors are a good choice because they typically have an exceptionally low default 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 significant difference.

Benefits of Physician Home 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 necessitate 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.

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

Should You Put Money 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 scenario looks like and the benefits of each too.

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

Furthermore, don’t overlook that having equity in your home will provide more security and overall flexibility, specifically if something unforeseen happens. With the 100% financed physician home mortgage loan, you ought to anticipate to start out under water. 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 simply to get out of the house.

Regardless of whether you are moving down the street, across town or across the country, we are right 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 Madison Alabama physician home loan program!

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

  • Physician Mortgage Prescott Arizona
  • Home Mortgage For Physicians In Spokane Washington
  • Home Mortgage For Physician Albany New York
  • Home Mortgage For Physicians In Bloomington Indiana
  • Physician Home Loan St. Paul Minnesota
  • Physician Mortgage St Louis Missouri
  • Physician Loan In Lakewood Washington
  • Home Mortgage For Physician Hickory North Carolina
  • Physician Home Loan Program In Cedar Rapids Iowa
  • Physician Loan Pennsylvania