Physician Home Loan Program In Norfolk Virginia

Whether our clients are a first time home buyer or buying a new home in Norfolk Virginia, our vetted loan officers have a solid understanding of the local real estate market and what it requires to secure your physician loan with competency and expertise.

Our loan officers in Norfolk Virginia provide specialized 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 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 lending them more money with fewer stipulations than their competitors.

Physician Home Loan Experts In Norfolk Virginia

If you are searching for a physician mortgage loan in Norfolk Virginia then you came to the right place.

You’ve worked very hard to become a doctor and buying home should not 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 mortgage!

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

We recognize the economic demands of your student loan liability, and how important it is to maintain 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 doctor, you can depend on us to find a mortgage loan that is exclusively tailored for your needs.

A lot of physicians in Norfolk Virginia may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or little to no work history.

Despite these reasons smart financial institutions know that doctors are a good choice because they generally have an extremely low default rate on loans, high earning potential and stable jobs.

Not all banks offer this specialized product and within banking institutions that do just simply talking with the best mortgage loan officer makes a tremendous difference.

Advantages of Physician Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Often does not require private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will accept an agreement as proof of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

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

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 home mortgage paid off earlier and save thousands of dollars on interest too.

Furthermore, don’t overlook that having equity in your house will definitely provide more security and flexibility, specifically if something unplanned happens. With the 100% financed physician mortgage loan, you ought to anticipate to begin under water. 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 moving down the street, across town or across the country, we are right here to assist you through the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Norfolk Virginia physician home mortgage program!

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