Physician Loan In Mobile Alabama

Whether or not our clients are a first time home buyer or buying a new home in Mobile Alabama, our vetted loan officers have a solid understanding of the local real estate industry and what it really takes to close your physician mortgage with proficiency and expertise.

Our loan officers in al geo provide specialized financing for doctors, just like you.

First, let’s discuss why physician mortgage loans even exist. The 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 requirements than their competitors.

Physician Home Loan Experts In Mobile Alabama

If you are trying to find a physician home loan in Mobile Alabama then you came to the perfect place.

You’ve worked very hard to become a doctor and purchasing home shouldn’t 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 home loan!

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

We understand the financial demands of your student loan liability, and how crucial it is to maintain 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 specifically tailored for your needs.

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

Despite these reasons smart loan providers know that doctors are a good bet considering that they typically have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

Not all lenders offer this specialized product and within banks that do just simply speaking to the best home loan 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).
  • Generally does not require private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve an agreement as documentation of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

Suppose you have some money to put down or are considering delaying until you have the money?

Our lenders can do the math for you and show you what each circumstance looks like and the benefits 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 house will provide greater security and overall 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 need to be prepared to write a potentially big check for as much as 10% of the purchase price simply to get out of the house.

Whether you are relocating down the street, across town or across the country, we are here to help you throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Mobile Alabama physician loan program!

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

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