Physician Home Loan Maple Grove 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 you are a first time home buyer or buying a new home in Maple Grove Minnesota, our vetted loan officers have a solid understanding of the local area real estate industry and what it really requires to secure your physician mortgage with proficiency and know-how.

Our loan officers in Maple Grove Minnesota provide exclusive financing for doctors, like you.

First off, let’s discuss why physician mortgage loans even exist. The reason is that doctors are extremely profitable customers 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 Maple Grove Minnesota

If you are looking for a physician home loan in Maple Grove Minnesota then you came to the right place.

You’ve trained very hard to become a doctor and purchasing home should not 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 just for doctors?

Yup, doctors get their own loan!

A physician loan is a specialized loan program designed just for doctors in the home purchasing process.

We recognize the financial demands of your student loan financial obligation, 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 rely on us to find a mortgage loan that is specifically tailored for your needs.

A lot of doctors in Maple Grove Minnesota 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 typically have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banking institutions that do simply consulting with the right mortgage officer makes a tremendous difference.

Benefits of Physician Mortgage Loans

  • Usually does not include student loan monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Usually does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve a contract as documentation of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

What if you have some funds to put down or are looking at waiting until you have the cash?

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

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

Furthermore, don’t overlook that having equity in your house will definitely provide greater security and flexibility, specifically if something unplanned happens. With the 100% financed physician mortgage loan, you ought to anticipate to begin under water. If something doesn’t work out and you’re forced to sell quickly, you should be prepared to write a potentially sizable check for as much as 10% of the purchase price simply to get out of the house.

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

Doctors, get the home of your dreams with our Maple Grove Minnesota physician home mortgage program!

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