Physician Mortgage In Newport News Virginia

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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Whether or not you are a first time home buyer or buying a new home in Newport News Virginia, our vetted loan officers have a solid understanding of the local real estate industry and what it really takes to secure your physician home mortgage with competency and expertise.

Our loan officers in Newport News Virginia provide exclusive financing for doctors, exactly like you.

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

Physician Mortgage Experts In Newport News Virginia

If you are trying to find a physician home loan in Newport News Virginia then you came to the right place.

You’ve worked 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 only for doctors?

Yup, doctors get their own loan!

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

We understand the budgetary demands of your student loan financial obligation, and how important 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 home loan that is exclusively tailored for your needs.

A large number of physicians in Newport News Virginia may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or minimal to no work history.

Despite these reasons smart lenders know that doctors are a good bet because they historically have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

Not all banks offer this specialized product and within banking institutions that do just simply speaking to the best mortgage officer makes a remarkable difference.

Benefits of Physician Home Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Generally does not call for private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will accept a contract as proof of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

What if you have some cash to put down or are looking at delaying until you have the cash?

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 instances, you’ll get your mortgage loan paid off sooner and save thousands on interest too.

Furthermore, don’t forget that having equity in your home will definitely offer more security and overall flexibility, particularly if something unplanned happens. With the 100% financed physician home mortgage loan, you should expect to start out underwater. If something does not work out and you are forced to sell quickly, you should be prepared to write a potentially sizable check for up to 10% of the purchase price simply to get out of the home.

Regardless of whether you’re relocating down the road, across town or across the country, we are here to assist you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Newport News Virginia physician home mortgage program!

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