Physician Loan In Plainfield 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 our clients are a first time home buyer or buying a new home in Plainfield New Jersey, our vetted loan officers have a strong understanding of the local real estate industry and what it really requires to close your physician loan with proficiency and know-how.

Our loan officers in Plainfield New Jersey provide exclusive financing for doctors, like you.

First off, let’s discuss why physician mortgage loans even exist. The reason is that doctors are very profitable customers for financial 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 a fewer number of requirements than their competitions.

Physician Mortgage Experts In Plainfield New Jersey

If you are looking for a physician loan in Plainfield New Jersey then you came to the right place.

You’ve worked 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 only for doctors?

Yup, doctors get their own home loan!

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

We are aware of the personal financial demands of your student loan debt, and how crucial 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 rely on us to find a home loan that is exclusively tailored for your needs.

A large number of doctors 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 minimal to no work history.

Despite these factors smart financial institutions know that doctors are a good bet because they historically have an incredibly low default rate on loans, high earning potential and stable jobs.

Not all banks offer this specialized product and within banking institutions that do just simply consulting with the right 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).
  • Typically does not call for 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 house doesn’t have to drain your savings and the process doesn’t need to drain your time.

Should You Put Cash Down?

Suppose you have some funds to put down or are considering 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 circumstances, you’ll get your mortgage paid off sooner and save thousands of dollars on interest rates too.

Furthermore, don’t forget that having equity in your home will most likely provide more security and flexibility, specifically if something unexpected happens. With the 100% financed physician home mortgage loan, you should anticipate to start out underwater. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially large 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 available to assist you all throughout the physician home loan process:: because you deserve it!

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