Home Mortgage For Physicians In Montgomery Alabama

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 buying a new home in Montgomery Alabama, our vetted loan officers have a strong understanding of the local real estate market and what it requires to secure your physician home loan with competency and expertise.

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

To start with, let’s talk about 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 lock in early career doctors by loaning them more money with a lot fewer terms than their competitors.

Physician Home Loan Experts In Montgomery Alabama

If you are trying to find a physician mortgage loan in Montgomery Alabama then you came to the right place.

You’ve trained very hard to become a doctor and buying 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 only for doctors?

Yup, doctors get their own mortgage!

A physician home loan is a specialized loan program created just for doctors in the home purchasing process.

We recognize the budgetary demands of your student loan debt, and how important 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 depend on us to find a mortgage loan that is specifically tailored for your needs.

A lot of doctors in Montgomery Alabama may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation or little to no work history.

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

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

Benefits of Physician Home Mortgage Loans

  • Typically does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires very low 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 approve an agreement as proof of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Cash Down?

Suppose you have some cash to put down or are considering waiting 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 instances, 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 definitely offer greater security and overall flexibility, specifically if something unanticipated happens. With the 100% financed physician home mortgage loan, you should anticipate 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 sizable check for as much as 10% of the purchase price simply to get out of the home.

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

Doctors, get the home of your dreams with our Montgomery Alabama 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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