Home Mortgage For Physicians In Modesto California

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 our clients are a first time home buyer or buying a new home in Modesto California, our vetted loan officers have a strong understanding of the local area real estate industry and what it really takes to close your physician mortgage with proficiency and expertise.

Our loan officers in Modesto California provide specialized financing for doctors, just 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 financial 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 lot fewer requirements than their competitors.

Physician Home Loan Experts In Modesto California

If you are looking for a physician loan in Modesto California then you came to the right place.

You’ve trained very hard to become a doctor and purchasing 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 specifically for doctors?

Yup, doctors get their own loan!

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

We recognize the financial demands of your student loan financial debt, and how important it is to maintain working capital for when the time is right with embarking upon your career. Whether 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 physicians in Modesto California may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or minimal to no work history.

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

Not all mortgage lenders offer this specialized product and within banking institutions that do simply talking to the best home loan officer makes a significant difference.

Benefits of Physician Home Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Typically does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve an agreement as evidence 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 funds to put down or are looking at delaying 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 instances, you’ll get your home mortgage paid off sooner and save thousands of dollars on interest too.

Additionally, don’t overlook that having equity in your home will definitely provide more security and overall flexibility, specifically if something unanticipated happens. With the 100% financed physician mortgage loan, you should expect to begin under water. If something does not work out and you are forced to sell quickly, you need to be prepared to write a potentially sizable check for up to 10% of the purchase price simply to get out of the home.

No matter if you are moving down the street, across town or across the country, we are available to lend a hand you throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Modesto California physician loan program!

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

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