Physician Home Loan Owensboro Kentucky

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 you are a first time home buyer or buying a new home in Owensboro Kentucky, our vetted loan officers have a strong understanding of the local area real estate industry and what it requires to secure your physician home loan with proficiency and expertise.

Our loan officers in Owensboro Kentucky offer special financing for doctors, exactly like you.

To start with, let’s talk about why physician mortgage loans even exist. The reason is that doctors are really profitable clients for lenders. 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 requirements than their competitions.

Physician Home Mortgage Experts In Owensboro Kentucky

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

You’ve trained very hard to become a doctor and buying home shouldn’t 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 only for doctors?

Yup, doctors get their own mortgage!

A physician loan is a specialized loan program made just for doctors in the home buying process.

We recognize the budgetary 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. Regardless 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.

A lot of doctors in Owensboro Kentucky 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 factors smart loan providers know that doctors are a good choice considering that they traditionally have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do simply talking to the best mortgage loan officer makes a remarkable difference.

Advantages of Physician Home Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Typically does not call for 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 need to drain your savings and the process doesn’t have to drain your time.

Should You Put Money Down?

What if you have some money to put down or are looking at waiting until you have the money?

Our loan providers can do the math for you and show you what each scenario looks like and the advantages of each too.

In most circumstances, you’ll get your home mortgage paid off sooner and save thousands of dollars on interest too.

Additionally, don’t overlook that having equity in your house will offer more security and overall flexibility, specifically if something unplanned happens. With the 100% financed physician home mortgage loan, you should 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 sizable 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 home of your dreams with our Owensboro Kentucky physician loan program!

Less than an hour ago, doctors just like you requested a loan from the locations listed below.

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