Home Mortgage For Physician Richmond Virginia

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

Our loan officers in Richmond Virginia offer exclusive financing for doctors, like you.

First off, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are very 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 loaning them more money with far fewer requirements than their competitions.

Physician Home Loan Experts In Richmond Virginia

If you are searching for a physician mortgage loan in Richmond Virginia then you came to the perfect place.

You’ve trained very hard to become a doctor and buying 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 just for doctors?

Yup, doctors get their own mortgage!

A physician loan is a specialty loan program designed just for doctors in the home buying process.

We understand the budgetary demands of your student loan debt, and how essential it is to preserve working capital for when the time is right with starting your career. Whether or not 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 Richmond Virginia 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 lending institutions know that doctors are a good choice because they typically have an incredibly low nonpayment rate on loans, high earning potential and secure jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do just simply talking with the right mortgage loan officer makes an enormous difference.

Benefits of Physician Mortgage Loans

  • Typically does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Usually does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve a contract as proof of future earnings, instead of pay stubs or W-2s, which 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?

Suppose 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 benefits of each too.

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

Furthermore, don’t overlook that having equity in your house will likely provide greater security and overall flexibility, specifically if something unexpected happens. With the 100% financed physician mortgage loan, you ought to anticipate to begin underwater. If something doesn’t 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 house.

Whether you are relocating down the street, across town or across the country, we are right here to lend a hand you all throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Richmond Virginia 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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