Home Mortgage For Physician McAllen Texas

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 our clients are a first time home buyer or buying a new home in McAllen Texas, our vetted loan officers have a strong understanding of the local real estate market and what it takes to secure your physician loan with efficiency and expertise.

Our loan officers in McAllen Texas provide special financing for doctors, exactly like you.

First, let’s discuss why physician mortgage loans even exist. The main 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 lending them more money with far fewer terms than their competitors.

Physician Home Mortgage Experts In McAllen Texas

If you are trying to find a physician mortgage loan in McAllen Texas then you came to the right place.

You’ve worked very hard to become a doctor and buying home really 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 loan!

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

We recognize the financial demands of your student loan financial debt, and how vital it is to maintain working capital for when the time is right with launching your career. Regardless 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 specially tailored for your needs.

A large number of doctors in McAllen Texas may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation or little to no work history.

Despite these factors smart lenders know that doctors are a good choice because they historically have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

Not all banks offer this specialized product and within banking institutions that do just simply talking with the best mortgage loan officer makes a tremendous difference.

Advantages of Physician Home Mortgage Loans

  • Typically does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Generally does not call for private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will approve a contract as evidence of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Cash Down?

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

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 mortgage paid off sooner and save thousands of dollars on interest rates too.

Furthermore, don’t overlook that having equity in your home will provide more security and overall flexibility, especially if something unforeseen 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 need to be prepared to write a potentially sizable check for up to 10% of the purchase price just to get out of the home.

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

Doctors, get the home of your dreams with our McAllen Texas physician home mortgage program!

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