Physician Home Loan Program Rochester Hills Michigan

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 or not you are a first time home buyer or purchasing a new home in Rochester Hills Michigan, our vetted loan officers have a solid understanding of the local area real estate industry and what it takes to close your physician home loan with proficiency and expertise.

Our loan officers in Rochester Hills Michigan provide specialized financing for doctors, exactly like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The reason is that doctors are extremely 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 lock in early career doctors by lending them more money with a fewer number of stipulations than their competitions.

Physician Home Loan Experts In Rochester Hills Michigan

If you are searching for a physician loan in Rochester Hills Michigan then you came to the right place.

You’ve worked very hard to become a doctor and purchasing home 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 mortgage!

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

We understand the financial demands of your student loan debt, and how crucial it is to preserve working capital for when the time is right with launching 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 exclusively tailored for your needs.

A lot of physicians in Rochester Hills Michigan may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or little to no work history.

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

Not all banks offer this specialized product and within banking institutions that do simply talking to the right mortgage loan officer makes a significant difference.

Advantages of Physician Home Loans

  • Usually does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Typically does not require private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve a contract as evidence of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

Purchasing a house doesn’t have to empty your savings and the process doesn’t have to drain your time.

Should You Put Money Down?

What if you have some funds to put down or are considering waiting until you have the money?

Our loan providers 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 loan paid off sooner and save thousands of dollars on interest rates too.

Additionally, don’t overlook that having equity in your house will most likely offer more security and overall flexibility, especially if something unplanned happens. With the 100% financed physician home mortgage loan, you should anticipate to begin underwater. If something does not work out and you’re forced to sell quickly, you should 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 moving down the street, across town or across the country, we are available to work with you throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Rochester Hills Michigan 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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