Physician Loan New Mexico

Regardless if our clients are a first time home buyer or purchasing a new home in New Mexico, our vetted loan officers have a strong understanding of the local area real estate industry and what it really takes to secure your physician home mortgage with efficiency and know-how.

Our loan officers in New Mexico provide exclusive financing for doctors, like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are really profitable clients for lending institutions. They take out big loans early in their careers and almost always pay them off. Lenders use doctor loans to lock in early career doctors by lending them more money with far fewer requirements than their competitors.

Physician Home Mortgage Professionals In New Mexico

If you are trying to find a physician home loan in New Mexico 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 physicians to buy a home?

A home loan just for doctors?

Yup, doctors get their own mortgage!

A physician home loan is a special loan program made just for physicians in the home buying process.

We are aware of the budgetary demands of your student loan financial obligation, and how crucial it is to preserve working capital for when the time is right with launching your career. Whether 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 Mexico 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 financial institutions know that doctors are a good choice because they traditionally have an exceptionally low default rate on loans, high earning potential and secure jobs.

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

Advantages of Physician Mortgage Loans

  • Typically does not include student loan regular monthly payments in debt-to-income percentage.
  • Usually requires very low to no down payment (0-5 percent).
  • Usually does not necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Usually will approve a contract as proof 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 Money Down?

What if you have some funds to put down or are looking at waiting until you have the funds?

Our loan providers can do the math for you and show you what each scenario looks like and the benefits of each too.

In most cases, you’ll get your home mortgage paid off sooner and save thousands on interest too.

Additionally, don’t overlook that having equity in your home will definitely offer greater security and overall flexibility, specifically if something unexpected happens. With the 100% financed physician home mortgage loan, you should anticipate to start out under water. If something does not work out and you are forced to sell quickly, you should be prepared to write a potentially big check for up to 10% of the purchase price just to get out of the home.

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

Doctors, get the house of your dreams with our New Mexico physician home mortgage program!

Top cities in New Mexico for a physician loan.