Physician Loan New Jersey

Preferred Physician Loan Officer

Jim Webster
NMLS# 658933
Mobile: (240) 620-1414
Email: jwebster@fultonmortgagecompany.com
Website: www.fultonmortgagecompany.com/jimwebster

  • Available terms 15 year fixed, 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM and 15/1ARM
  • 100% financing to $1,500,000
  • 700 minimum credit score
  • No Mortgage Insurance
  • Signed employment contract with guaranteed income allowed for qualifying if start of new job is not more than 60 days from settlement of home purchase
  • Available for MD, DO, DMD, PHARMD, DVM and DDS
  • Residents and Fellows allowed student loans deferred for 12 months not counted in debt to income ratio
  • Practicing Doctors must not be out of Residency more than 10 years unless they are relocating for a new job
  • Self-employed or RVU paid doctors need 2 years filed federal tax returns for income qualification
  • Bank checking account with auto mortgage payment from that account required.
Get Your Physician Loan Rates Now by Completing the Form Below.

Regardless if you are a first time home buyer or buying a new home in New Jersey, our vetted loan officers have a solid understanding of the local area real estate market and what it really takes to close your physician home loan with competency and expertise.

Our loan officers in New Jersey offer exclusive financing for doctors, exactly like you.

First, let’s talk about why physician mortgage loans even exist. The reason is that doctors are really profitable clients for lenders. They take out big loans early in their careers and almost always pay them off. Lenders use doctor loans to secure early career doctors by loaning them more money with far fewer stipulations than their competitors.

Physician Home Loan Professionals In New Jersey

If you are searching for a physician mortgage loan in New Jersey then you came to the perfect place.

You’ve trained very hard to become a doctor and purchasing home should not be nearly as difficult.

Did you know there is a special loan that makes it easy for physicians to buy a home?

A home loan just for doctors?

Yup, doctors get their own home loan!

A physician home loan is a special loan program created just for physicians in the home purchasing process.

We understand the financial demands of your student loan liability, and how important it is to preserve working capital for when the time is right with launching your career. No matter if you are a couple years into practice, or a well established physician, you can count on us to find a home loan that is specially tailored for your needs.

Many doctors in New Jersey may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or very little to no work history.

Despite these factors smart loan providers know that doctors are a good choice due to the fact that they historically have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all financial institutions offer this specialized product and within banks that do simply talking with the right home loan officer makes a remarkable difference.

Benefits of Physician Home Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income ratio.
  • Typically requires small to no down payment (0-5 percent).
  • Generally does not require private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Generally will approve an agreement as documentation of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

Buying a home doesn’t need 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 thinking about waiting until you have the cash?

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

In most circumstances, you’ll get your mortgage loan paid off earlier and save thousands on interest rates too.

Furthermore, don’t forget that having equity in your house will definitely offer more security and overall flexibility, especially if something unanticipated happens. With the 100% financed physician home mortgage loan, you should anticipate to start out underwater. If something doesn’t 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 home.

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

Doctors, get the house of your dreams with our New Jersey physician home loan program!

Top cities in New Jersey for a physician loan.

Atlantic City
Bayonne
Camden
Clifton
East Orange
Elizabeth
Hackensack
Hoboken
Jersey City
Kearny
Linden
New Brunswick
Newark
Passaic
Paterson
Perth Amboy
Plainfield
Sayreville
Trenton
Union City
Vineland
West New York