Physician Home Loan Program Perth Amboy New Jersey

Preferred Physician Loan Officer

Jim Webster
NMLS# 658933
Mobile: (240) 620-1414
Email: jwebster@fultonmortgagecompany.com
Website: www.fultonmortgagecompany.com/jimwebster

  • Available terms 15 year fixed, 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM and 15/1ARM
  • 100% financing to $1,500,000
  • 700 minimum credit score
  • No Mortgage Insurance
  • Signed employment contract with guaranteed income allowed for qualifying if start of new job is not more than 60 days from settlement of home purchase
  • Available for MD, DO, DMD, PHARMD, DVM and DDS
  • Residents and Fellows allowed student loans deferred for 12 months not counted in debt to income ratio
  • Practicing Doctors must not be out of Residency more than 10 years unless they are relocating for a new job
  • Self-employed or RVU paid doctors need 2 years filed federal tax returns for income qualification
  • Bank checking account with auto mortgage payment from that account required.
Get Your Physician Loan Rates Now by Completing the Form Below.

Regardless of whether our clients are a first time home buyer or purchasing a new home in Perth Amboy New Jersey, our vetted loan officers have a solid understanding of the local real estate industry and what it really takes to secure your physician home loan with proficiency and expertise.

Our loan officers in Perth Amboy New Jersey provide exclusive financing for doctors, just like you.

To start with, let’s discuss why physician mortgage loans even exist. The 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 lending them more money with a fewer number of requirements than their competitions.

Physician Home Loan 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 perfect place.

You’ve worked very hard to become a doctor and purchasing 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 home loan!

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

We are aware of the budgetary demands of your student loan financial debt, and how crucial it is to maintain working capital for when the time is right with launching your career. No matter 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 specially tailored for your needs.

Quite a few doctors in Perth Amboy New Jersey may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large 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 traditionally have an incredibly low default rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banking institutions that do simply speaking with the best home loan officer makes a tremendous difference.

Advantages of Physician Home Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Generally does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept a contract as proof of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

Buying a home doesn’t need to drain 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 thinking about waiting until you have the cash?

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

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

Additionally, don’t overlook that having equity in your home will most likely provide greater security and flexibility, particularly if something unexpected happens. With the 100% financed physician home mortgage loan, you should anticipate 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 up to 10% of the purchase price simply to get out of the home.

Regardless of whether you’re relocating down the road, across town or across the country, we are available to help you throughout the physician home loan process:: because you deserve it!

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

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