Physician Home Loan Program Mount Vernon New York

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 Mount Vernon New York, our vetted loan officers have a strong understanding of the local real estate market and what it really requires to close your physician home mortgage with competency and know-how.

Our loan officers in Mount Vernon New York offer specialized financing for doctors, exactly like you.

First off, let’s discuss why physician mortgage loans even exist. The reason is that doctors are very profitable customers 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 lending them more money with far fewer stipulations than their competitors.

Physician Home Loan Experts In Mount Vernon New York

If you are trying to find a physician mortgage loan in Mount Vernon New York then you came to the right place.

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

Yup, doctors get their own home loan!

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

We recognize the budgetary demands of your student loan debt, and how crucial it is to preserve working capital for when the time is right with starting 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 mortgage loan that is specifically tailored for your needs.

A large number of doctors in Mount Vernon New York may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or little to no work history.

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

Not all financial institutions offer this specialized product and within banking institutions that do simply consulting with the best mortgage loan officer makes a remarkable difference.

Advantages of Physician Mortgage Loans

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

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

Should You Put Cash Down?

What if you have some funds to put down or are considering delaying until you have the money?

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

Additionally, don’t forget that having equity in your house will most likely offer more security and overall flexibility, specifically if something unexpected happens. With the 100% financed physician home mortgage loan, you ought to 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 sizable check for as much as 10% of the purchase price simply to get out of the home.

Regardless of whether you’re moving down the road, 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 home of your dreams with our Mount Vernon New York physician home loan program!

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