Home Mortgage For Physician Memphis Tennessee

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 our clients are a first time home buyer or purchasing a new home in Memphis Tennessee, our vetted loan officers have a strong understanding of the local real estate industry and what it really requires to close your physician home mortgage with competency and know-how.

Our loan officers in Memphis Tennessee provide special financing for doctors, just like you.

First, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are really 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 a fewer number of terms than their competitors.

Physician Mortgage Experts In Memphis Tennessee

If you are trying to find a physician mortgage in Memphis Tennessee 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 only for doctors?

Yup, doctors get their own home loan!

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

We understand the personal financial demands of your student loan debt, and how important it is to preserve working capital for when the time is right with embarking upon your career. Whether or not you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is specially tailored for your needs.

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

Despite these reasons smart lending institutions know that doctors are a good choice because they historically have an incredibly low default rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banks that do just simply consulting with the best mortgage officer makes a significant difference.

Advantages of Physician Mortgage Loans

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

Buying a home doesn’t have to drain 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 funds?

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

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

Additionally, don’t forget that having equity in your home will most likely offer greater security and flexibility, particularly if something unexpected happens. With the 100% financed physician home mortgage loan, you ought to expect to start out under water. If something does not work out and you are forced to sell quickly, you should be prepared to write a potentially big check for as much as 10% of the purchase price just to get out of the house.

No matter if you’re moving down the road, across town or across the country, we are here 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 Memphis Tennessee 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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