Physician Mortgage In O Fallon Missouri

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 purchasing a new home in O Fallon Missouri, our vetted loan officers have a strong understanding of the local real estate market and what it takes to secure your physician mortgage with competency and expertise.

Our loan officers in O Fallon Missouri provide specialized financing for doctors, just like you.

First off, let’s discuss why physician mortgage loans even exist. The 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 lending them more money with far fewer requirements than their competitions.

Physician Home Mortgage Experts In O Fallon Missouri

If you are searching for a physician mortgage loan in O Fallon Missouri then you came to the perfect place.

You’ve worked very hard to become a doctor and buying home should not be nearly as challenging.

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 mortgage!

A physician loan is a specialized loan program designed just for doctors in the home purchasing process.

We are aware of the economic demands of your student loan liability, and how crucial it is to preserve working capital for when the time is right with embarking upon your career. Whether or not 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 doctors in O Fallon Missouri may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or minimal to no work history.

Despite these factors smart loan providers know that doctors are a good bet considering 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 banking institutions that do just simply consulting with the right home loan officer makes a tremendous difference.

Advantages of Physician Mortgage Loans

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

Purchasing a house doesn’t have 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 waiting until you have the money?

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

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

Additionally, don’t overlook that having equity in your home will definitely provide more security and flexibility, particularly if something unexpected happens. With the 100% financed physician home mortgage loan, you should anticipate to begin under water. If something doesn’t work out and you are forced to sell quickly, you need to be prepared to write a potentially large check for as much as 10% of the purchase price simply to get out of the home.

No matter if you’re relocating down the road, across town or across the country, we are available to help you through the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our O Fallon Missouri physician home mortgage program!

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