Physician Loan New York

Whether our clients are a first time home buyer or buying a new home in New York, our vetted loan officers have a strong understanding of the local area real estate market and what it takes to close your physician mortgage with proficiency and know-how.

Our loan officers in New York provide specialized financing for doctors, like you.

First, let’s talk about why physician mortgage loans even exist. The main 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 lock in early career doctors by loaning them more money with a lot fewer stipulations than their competitors.

Physician Mortgage Experts In New York

If you are looking for a physician mortgage in New York then you came to the perfect place.

You’ve worked 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 physicians to buy a home?

A home loan only for doctors?

Yup, doctors get their own loan!

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

We recognize the budgetary demands of your student loan debt, and how important it is to preserve working capital for when the time is right with starting your career. Whether you are a couple years into practice, or a well established physician, you can depend on us to find a home loan that is specifically tailored for your needs.

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

Despite these factors smart lenders 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 secure jobs.

Not all lenders offer this specialized product and within banks that do simply consulting with the right mortgage officer makes a tremendous difference.

Benefits of Physician Home Mortgage Loans

  • Typically does not include student loan regular monthly payments in debt-to-income percentage.
  • Usually requires small to no down payment (0-5 percent).
  • Generally does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Usually will accept an agreement as documentation of future earnings, instead of pay stubs or W-2s, that 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 money 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 situation looks like and the benefits of each too.

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

Furthermore, don’t forget that having equity in your house will provide greater security and flexibility, especially if something unforeseen happens. With the 100% financed physician home mortgage loan, you ought to expect to begin under water. If something does not 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 just to get out of the home.

Regardless of whether you are moving down the road, across town or across the country, we are right here to work with you throughout the physician home loan process:: because you deserve it!

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

Top cities in New York for a physician loan.

Albany
Binghamton
Buffalo
Freeport
Hempstead
Mount Vernon
New Rochelle
New York
Niagara Falls
Rochester
Schenectady
Syracuse
Troy
Utica
Valley Stream
White Plains
Yonkers