Physician Loan In Plainfield 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.

Whether our clients are a first time home buyer or purchasing a new home in Plainfield New Jersey, our vetted loan officers have a strong understanding of the local area real estate industry and what it really takes to close your physician mortgage with proficiency and expertise.

Our loan officers in Plainfield New Jersey offer special financing for doctors, exactly like you.

To start with, let’s discuss why physician mortgage loans even exist. The reason is that doctors are really profitable customers 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 a fewer number of terms than their competitors.

Physician Mortgage Experts In Plainfield New Jersey

If you are looking for a physician home loan in Plainfield New Jersey 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 home loan!

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

We understand the budgetary 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 depend on us to find a mortgage loan that is specially tailored for your needs.

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

Despite these reasons smart loan providers know that doctors are a good choice due to the fact that they traditionally have an exceptionally 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 consulting with the right home loan officer makes a significant difference.

Benefits of Physician Home Loans

  • Usually does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Usually does not call for private mortgage insurance (PMI), despite the fact that 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 have 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 thinking about waiting until you have the cash?

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

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

Furthermore, don’t forget that having equity in your house will most likely provide greater security and overall flexibility, especially if something unanticipated happens. With the 100% financed physician mortgage loan, you should expect to start out under water. 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 home.

No matter if you are moving down the street, across town or across the country, we are available to assist you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Plainfield New Jersey 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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