Physician Home Loan Program Perth Amboy New Jersey

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 Perth Amboy New Jersey, our vetted loan officers have a solid 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 Perth Amboy New Jersey offer 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 customers 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 loaning them more money with a fewer number of stipulations than their competitors.

Physician Mortgage Experts In Perth Amboy New Jersey

If you are searching for a physician mortgage loan in Perth Amboy New Jersey then you came to the right place.

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

Yup, doctors get their own home loan!

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

We are aware of the budgetary demands of your student loan liability, and how important it is to preserve 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 depend on us to find a mortgage loan that is specifically tailored for your needs.

A lot of physicians in Perth Amboy New Jersey may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or little to no work history.

Despite these factors smart lending institutions know that doctors are a good bet because they generally have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banks that do just simply speaking with the best mortgage loan officer makes a significant difference.

Benefits of Physician Home Loans

  • Usually does not include student loan monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Typically does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve an agreement as proof of future earnings, in lieu 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 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 circumstance looks like and the advantages of each too.

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

Additionally, don’t overlook that having equity in your home will most likely offer greater security and overall flexibility, particularly if something unexpected happens. With the 100% financed physician home mortgage loan, you should anticipate to begin underwater. If something doesn’t work out and you are forced to sell quickly, you should be prepared to write a potentially sizable check for as much as 10% of the purchase price simply to get out of the house.

Regardless of whether you’re moving down the road, across town or across the country, we are right here to assist you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Perth Amboy New Jersey physician home loan program!

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