Physician Mortgage In Santa Ana California

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 you are a first time home buyer or buying a new home in Santa Ana California, our vetted loan officers have a solid understanding of the local area real estate market and what it requires to close your physician mortgage with efficiency and expertise.

Our loan officers in Santa Ana California provide exclusive financing for doctors, just 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 lending 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 loaning them more money with far fewer terms than their competitors.

Physician Home Mortgage Experts In Santa Ana California

If you are looking for a physician mortgage loan in Santa Ana California then you came to the perfect place.

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

Yup, doctors get their own home loan!

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

We are aware of the personal financial demands of your student loan financial debt, and how vital it is to maintain 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 rely on us to find a mortgage loan that is specially tailored for your needs.

Quite a few doctors in Santa Ana California 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 loan providers know that doctors are a good choice due to the fact that they typically have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

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

Advantages of Physician Home Loans

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

Buying a home doesn’t have to empty your savings and the process doesn’t have 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 money?

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

In most instances, you’ll get your home mortgage paid off sooner and save thousands on interest rates too.

Additionally, don’t overlook that having equity in your home will definitely offer more security and flexibility, specifically if something unexpected happens. With the 100% financed physician mortgage loan, you ought to anticipate to start out under water. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially large check for as much as 10% of the purchase price just to get out of the house.

Regardless of whether you’re moving down the street, 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 home of your dreams with our Santa Ana California physician loan program!

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