Physician Loan North Dakota

Whether our clients are a first time home buyer or purchasing a new home in North Dakota, our vetted loan officers have a solid understanding of the local real estate industry and what it takes to close your physician mortgage with proficiency and know-how.

Our loan officers in North Dakota provide special financing for doctors, just 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 doctor loans to secure early career doctors by lending them more money with a fewer number of terms than their competitors.

Physician Home Mortgage Experts In North Dakota

If you are looking for a physician mortgage loan in North Dakota then you came to the right place.

You’ve worked very hard to become a doctor and purchasing home really 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 only for doctors?

Yup, doctors get their own loan!

A physician home mortgage is a specialty loan program designed just for physicians in the home purchasing process.

We are aware of the financial demands of your student loan financial obligation, and how important it is to preserve 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 physician, you can depend on us to find a home loan that is specially tailored for your needs.

A large number of physicians in North Dakota 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 lending institutions know that doctors are a good bet because they generally have an incredibly low default rate on loans, high earning potential and secure jobs.

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

Benefits of Physician Mortgage Loans

  • Usually does not include student loan monthly payments in debt-to-income percentage.
  • Generally requires small to no down payment (0-5 percent).
  • Often does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Generally will approve a contract as documentation of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Money Down?

What if you have some money to put down or are thinking about delaying until you have the cash?

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 of dollars on interest rates too.

Furthermore, don’t forget that having equity in your house will most likely provide more security and flexibility, especially if something unexpected happens. With the 100% financed physician mortgage loan, you should expect 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 big check for up to 10% of the purchase price simply to get out of the home.

Whether you are relocating down the street, across town or across the country, we are here to work with you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our North Dakota physician home loan program!

Top cities in North Dakota for a physician loan.