Physician Loan In Philadelphia Pennsylvania

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 our clients are a first time home buyer or buying a new home in Philadelphia Pennsylvania, our vetted loan officers have a strong understanding of the local real estate industry and what it really takes to close your physician loan with efficiency and expertise.

Our loan officers in Philadelphia Pennsylvania offer special financing for doctors, 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 lending institutions. 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 lending them more money with far fewer stipulations than their competitions.

Physician Loan Experts In Philadelphia Pennsylvania

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

You’ve trained very hard to become a doctor and buying home really 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 loan is a customized loan program put together just for doctors in the home purchasing process.

We are aware of the economic demands of your student loan financial debt, and how vital it is to preserve working capital for when the time is right with embarking upon your career. Regardless if you are a couple years into practice, or a well established doctor, you can count on us to find a home loan that is exclusively tailored for your needs.

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

Despite these reasons smart loan providers know that doctors are a good choice due to the fact that they typically have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banks that do just simply talking with the best home loan officer makes an enormous difference.

Advantages of Physician Home Mortgage Loans

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

Purchasing a home 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 considering delaying until you have the funds?

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

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

Additionally, don’t overlook that having equity in your house will definitely offer greater security and flexibility, especially if something unforeseen 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 large check for up to 10% of the purchase price just to get out of the home.

Whether you’re moving down the street, across town or across the country, we are here to assist you throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Philadelphia Pennsylvania physician home loan program!

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

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