Physician Mortgage In Newark Ohio

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 if our clients are a first time home buyer or purchasing a new home in Newark Ohio, our vetted loan officers have a strong understanding of the local area real estate market and what it really takes to secure your physician home loan with proficiency and expertise.

Our loan officers in Newark Ohio provide exclusive financing for doctors, like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The 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 physician home loans to secure early career doctors by lending them more money with a fewer number of terms than their competitions.

Physician Mortgage Experts In Newark Ohio

If you are looking for a physician mortgage in Newark Ohio then you came to the right place.

You’ve trained very hard to become a doctor and buying home shouldn’t be nearly as difficult.

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 mortgage is a special loan program designed just for doctors in the home buying process.

We understand the financial demands of your student loan debt, and how crucial it is to maintain working capital for when the time is right with embarking upon your career. No matter if you are a couple years into practice, or a well established doctor, you can rely on us to find a mortgage loan that is exclusively tailored for your needs.

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

Despite these reasons smart lenders know that doctors are a good choice because they typically have an exceptionally low default rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do simply speaking with the best mortgage 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).
  • Generally does not necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will approve a contract as documentation of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

Buying a house doesn’t have to empty your savings and the process doesn’t need to drain your time.

Should You Put Money Down?

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

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

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

Furthermore, don’t forget that having equity in your house will likely provide more security and flexibility, particularly if something unanticipated happens. With the 100% financed physician home mortgage loan, you ought to anticipate to begin under water. If something doesn’t work out and you’re forced to sell quickly, you need to be prepared to write a potentially large check for up to 10% of the purchase price just to get out of the home.

No matter if you’re relocating down the street, across town or across the country, we are right here to work with you all throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Newark Ohio physician loan program!

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