Home Mortgage For Physicians In Palatine Illinois

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 Palatine Illinois, our vetted loan officers have a strong understanding of the local real estate industry and what it requires to close your physician home loan with proficiency and know-how.

Our loan officers in Palatine Illinois offer exclusive financing for doctors, like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The reason is that doctors are very profitable clients for lending institutions. They take out big loans early in their careers and almost always pay them off. Lenders use physician home loans to secure early career doctors by lending them more money with fewer stipulations than their competitions.

Physician Home Mortgage Experts In Palatine Illinois

If you are searching for a physician mortgage in Palatine Illinois then you came to the perfect place.

You’ve trained 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 just for doctors?

Yup, doctors get their own home loan!

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

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

Quite a few doctors in Palatine Illinois may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation or minimal to no work history.

Despite these factors smart lenders know that doctors are a good choice considering that they generally 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 speaking with the right mortgage officer makes a tremendous difference.

Advantages of Physician Home Mortgage Loans

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

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

Should You Put Money Down?

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

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 mortgage loan paid off sooner and save thousands of dollars on interest too.

Furthermore, don’t forget that having equity in your home will likely provide more security and overall flexibility, specifically if something unforeseen happens. With the 100% financed physician mortgage loan, you ought to expect to begin underwater. If something does not work out and you are 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 house.

No matter if you’re relocating down the street, across town or across the country, we are here to work with you through the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Palatine Illinois physician home loan program!

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