Home Mortgage For Physicians In Rochester Minnesota

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

Our loan officers in Rochester Minnesota provide special financing for doctors, exactly like you.

First, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are extremely profitable clients 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 Rochester Minnesota

If you are trying to find a physician loan in Rochester Minnesota then you came to the perfect place.

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

Yup, doctors get their own mortgage!

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

We recognize the personal financial demands of your student loan financial debt, and how essential it is to maintain working capital for when the time is right with embarking upon your career. No matter if you are a couple years into practice, or a well established doctor, you can rely on us to find a mortgage loan that is specifically tailored for your needs.

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

Despite these factors smart loan providers know that doctors are a good choice considering that they generally have an incredibly low default rate on loans, high earning potential and secure jobs.

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

Benefits of Physician Home Loans

  • Generally does not include student loan monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Typically does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will accept a contract as documentation of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

Buying a home doesn’t need to empty 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 delaying until you have the funds?

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

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

Furthermore, don’t forget that having equity in your home will most likely offer more security and flexibility, specifically if something unanticipated happens. With the 100% financed physician home mortgage loan, you should anticipate to begin under water. If something doesn’t work out and you’re forced to sell quickly, you need to be prepared to write a potentially sizable check for up to 10% of the purchase price simply to get out of the home.

Regardless of whether you are moving down the street, across town or across the country, we are right here to help you all throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Rochester Minnesota 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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