Physician Mortgage Peoria 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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Regardless if our clients are a first time home buyer or buying a new home in Peoria Illinois, our vetted loan officers have a strong understanding of the local real estate industry and what it really takes to secure your physician loan with efficiency and know-how.

Our loan officers in Peoria Illinois provide specialized financing for doctors, exactly like you.

First, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very 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 secure early career doctors by lending them more money with fewer terms than their competitors.

Physician Mortgage Experts In Peoria Illinois

If you are trying to find a physician loan in Peoria Illinois then you came to the right place.

You’ve worked very hard to become a doctor and purchasing 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 just for doctors?

Yup, doctors get their own mortgage!

A physician mortgage is a special loan program created just for doctors in the home purchasing process.

We understand the budgetary demands of your student loan debt, and how important it is to maintain working capital for when the time is right with embarking upon your career. Whether you are a couple years into practice, or a well established doctor, you can count on us to find a home loan that is specifically tailored for your needs.

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

Despite these factors smart loan providers know that doctors are a good bet due to the fact that they typically have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

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

Benefits of Physician Home Loans

  • Typically does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Generally does not require private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will accept an agreement as evidence of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

Buying a home 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 cash 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 situation looks like and the advantages of each too.

In most cases, you’ll get your home loan paid off sooner and save thousands on interest rates too.

Furthermore, don’t overlook that having equity in your home will definitely provide greater security and flexibility, specifically if something unanticipated happens. With the 100% financed physician mortgage loan, you ought to expect to start out underwater. If something doesn’t work out and you’re forced to sell quickly, you should be prepared to write a potentially big check for as much as 10% of the purchase price simply to get out of the home.

Regardless of whether you are relocating down the street, across town or across the country, we are here to work with you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Peoria Illinois physician home mortgage program!

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

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