Physician Home Loan Program In Royal Oak Michigan

Whether you are a first time home buyer or buying a new home in Royal Oak Michigan, our vetted loan officers have a solid understanding of the local real estate industry and what it really requires to secure your physician home mortgage with competency and know-how.

Our loan officers in Royal Oak Michigan provide 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 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 far fewer stipulations than their competitors.

Physician Home Loan Experts In Royal Oak Michigan

If you are trying to find a physician loan in Royal Oak Michigan then you came to the perfect place.

You’ve trained 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 mortgage is a specialized loan program developed just for doctors in the home purchasing process.

We understand the budgetary demands of your student loan financial obligation, and how important it is to preserve working capital for when the time is right with launching your career. Regardless if you are a couple years into practice, or a well established doctor, you can depend on us to find a home loan that is specifically tailored for your needs.

Quite a few physicians in Royal Oak Michigan may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial debt or little to no work history.

Despite these factors smart lenders know that doctors are a good choice due to the fact that they traditionally have an incredibly 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 consulting with the best mortgage loan officer makes a tremendous difference.

Benefits of Physician Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires small 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 an agreement as evidence of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

Purchasing 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 cash to put down or are thinking about waiting until you have the cash?

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

Furthermore, don’t forget that having equity in your home will most likely offer greater security and overall flexibility, particularly if something unplanned happens. With the 100% financed physician home mortgage loan, you should expect to start out under water. If something does not work out and you are forced to sell quickly, you need to be prepared to write a potentially large check for as much as 10% of the purchase price just to get out of the home.

Regardless of whether you’re moving down the road, across town or across the country, we are right here to lend a hand you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Royal Oak Michigan physician home mortgage program!

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

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