Physician Home Loan Meriden Connecticut

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 Meriden Connecticut, our vetted loan officers have a solid understanding of the local real estate industry and what it requires to secure your physician loan with competency and know-how.

Our loan officers in Meriden Connecticut provide specialized financing for doctors, like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are extremely 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 secure early career doctors by loaning them more money with a fewer number of stipulations than their competitors.

Physician Mortgage Experts In Meriden Connecticut

If you are looking for a physician home loan in Meriden Connecticut then you came to the perfect place.

You’ve trained 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 just for doctors?

Yup, doctors get their own loan!

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

We are aware of the budgetary demands of your student loan financial debt, and how vital 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 depend on us to find a home loan that is specifically tailored for your needs.

A lot of doctors in Meriden Connecticut 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 financial institutions know that doctors are a good bet considering that they generally have an incredibly low default rate on loans, high earning potential and stable jobs.

Not all financial institutions offer this specialized product and within banks that do just simply speaking to the right mortgage officer makes an enormous difference.

Benefits of Physician Home Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Usually does not require private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept an agreement as proof of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

Suppose 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 scenario looks like and the benefits of each too.

In most instances, you’ll get your home loan paid off earlier and save thousands of dollars on interest rates too.

Furthermore, don’t forget that having equity in your home will likely offer greater security and flexibility, especially if something unexpected happens. With the 100% financed physician mortgage loan, you should expect to start out underwater. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially sizable check for up to 10% of the purchase price simply to get out of the home.

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

Doctors, get the house of your dreams with our Meriden Connecticut physician home loan program!

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

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