Physician Mortgage Minneapolis 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 purchasing a new home in Minneapolis Minnesota, our vetted loan officers have a strong understanding of the local real estate industry and what it requires to secure your physician home loan with proficiency and know-how.

Our loan officers in Minneapolis Minnesota offer exclusive financing for doctors, like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very profitable clients 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 lot fewer terms than their competitors.

Physician Home Mortgage Experts In Minneapolis Minnesota

If you are looking for a physician mortgage loan in Minneapolis Minnesota then you came to the perfect place.

You’ve trained very hard to become a doctor and purchasing 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 mortgage!

A physician home loan is a specialized loan program put together just for doctors in the home buying process.

We are aware of the personal financial demands of your student loan debt, and how vital it is to preserve working capital for when the time is right with launching your career. Whether you are a couple years into practice, or a well established doctor, you can count on us to find a home loan that is specially tailored for your needs.

A lot of physicians in Minneapolis Minnesota may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial debt or little to no work history.

Despite these reasons smart financial institutions know that doctors are a good bet because they historically have an exceptionally low default rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banks that do simply speaking to the best home loan officer makes a tremendous difference.

Advantages of Physician Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Generally does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept a contract as documentation of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Cash Down?

Suppose you have some funds to put down or are looking at waiting until you have the funds?

Our lenders can do the math for you and show you what each scenario looks like and the advantages of each too.

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

Furthermore, don’t overlook that having equity in your house will definitely provide more security and overall flexibility, particularly if something unanticipated happens. With the 100% financed physician mortgage loan, you ought to anticipate 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 large check for as much as 10% of the purchase price simply 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 help you all throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Minneapolis Minnesota 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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