Physician Home Loan Portsmouth Virginia

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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Regardless of whether you are a first time home buyer or purchasing a new home in Portsmouth Virginia, our vetted loan officers have a solid understanding of the local area real estate market and what it really requires to secure your physician mortgage with efficiency and know-how.

Our loan officers in Portsmouth Virginia provide special financing for doctors, just like you.

First off, let’s talk about why physician mortgage loans even exist. The reason is that doctors are really profitable clients for financial 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 lot fewer requirements than their competitions.

Physician Mortgage Experts In Portsmouth Virginia

If you are trying to find a physician home loan in Portsmouth Virginia then you came to the right place.

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

Yup, doctors get their own mortgage!

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

We recognize the economic demands of your student loan financial obligation, and how important it is to preserve working capital for when the time is right with starting your career. Whether you are a couple years into practice, or a well established doctor, you can count on us to find a home loan that is specially tailored for your needs.

Quite a few physicians in Portsmouth Virginia 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 reasons smart financial institutions know that doctors are a good choice due to the fact that they generally have an exceptionally low default rate on loans, high earning potential and secure jobs.

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

Benefits of Physician Home Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires very low 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, instead of pay stubs or W-2s, that 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?

What if you have some cash to put down or are thinking about delaying until you have the funds?

Our loan providers can do the math for you and show you what each scenario looks like and the advantages of each too.

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

Furthermore, don’t overlook that having equity in your house will definitely offer more security and overall flexibility, specifically if something unplanned happens. With the 100% financed physician home mortgage loan, you ought to anticipate to start out 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.

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

Doctors, get the house of your dreams with our Portsmouth Virginia physician loan program!

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

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