Physician Home Loan Program In Mankato Minnesota

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 or not you are a first time home buyer or purchasing a new home in Mankato Minnesota, our vetted loan officers have a strong understanding of the local area real estate market and what it takes to close your physician home mortgage with proficiency and expertise.

Our loan officers in Mankato Minnesota provide exclusive 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 secure early career doctors by loaning them more money with a fewer number of stipulations than their competitors.

Physician Loan Experts In Mankato Minnesota

If you are trying to find a physician loan in Mankato Minnesota then you came to the right place.

You’ve worked 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 just for doctors?

Yup, doctors get their own loan!

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

We recognize the personal financial demands of your student loan liability, and how crucial 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 depend on us to find a home loan that is exclusively tailored for your needs.

Many doctors in Mankato Minnesota may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation or minimal to no work history.

Despite these reasons smart loan providers know that doctors are a good choice considering that they historically have an extremely 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 best mortgage loan officer makes an enormous difference.

Benefits of Physician Home Mortgage Loans

  • Usually does not include student loan monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Generally does not necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will approve an agreement as proof of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

Suppose you have some money to put down or are thinking about waiting until you have the money?

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 circumstances, you’ll get your home loan paid off sooner and save thousands on interest too.

Additionally, don’t forget that having equity in your house will definitely offer greater security and overall flexibility, especially if something unanticipated happens. With the 100% financed physician home mortgage loan, you should anticipate to begin under water. If something does not 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 just to get out of the house.

Regardless of whether you are relocating down the street, 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 Mankato Minnesota physician loan program!

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