Physician Mortgage Schaumburg Illinois

Preferred Physician Loan Officer

Bill Lavelle
NMLS# 712886
Mobile: (614) 563-4086 / 1-800-761-0194
Email: Bill.Lavelle@BankAtFirst.com
Website: www.BillLavelle.com

  • $0 Down with No PMI insurance up to a loan amount of $750,000
  • 5% Down with No PMI insurance for a loan amount of $750,001 – $1 Million
  • Can close on loan up to 90 days before starting new employment with a copy of executed offer & acceptance
  • 30 Year Fixed option as well as a full suite of ARM products
  • Purchase, Construction, or Refinance
  • Permanent Resident Aliens are allowed. A Green Card (INS Form I-551) is required.
  • Eligible Professions: Physicians, Medical Residents, Interns and fellowship doctors, Dentists, Chiropractors, Veterinarians, CRNA/PA-C

I have spent most of my professional career as a mortgage loan officer, both with major banks and mortgage companies, and can truly say “I love working with home buyers to help make their dream of home ownership come true. Whether FHA or VA buyers, conforming or non-conforming, conventional or jumbo, construction or professional loan programs, I have worked with them all and know them inside and out. Accolades… sure I have them…

Ranked the #1 mortgage loan officer in the State of Ohio for construction / purchase origination in 2012, 2013, 2014, 2015, & 2016 with over $100 million in loans closed each year.
* Per top loan officer rankings by Mortgage Industry publication Scotsman Guide.

…but the satisfaction of helping each individual client is what is important to me. If you need a lender who will work tirelessly to get your deal closed then look no further. Message or call me anytime and I will be glad to help.

Thinking of building or buying, call me first to find the perfect loan program for you.

Get Your Physician Loan Rates Now by Completing the Form Below.

Regardless of whether our clients are a first time home buyer or buying a new home in Schaumburg Illinois, our vetted loan officers have a solid understanding of the local real estate industry and what it takes to close your physician home mortgage with efficiency and know-how.

Our loan officers in Schaumburg Illinois provide special financing for doctors, just like you.

First, let’s discuss why physician mortgage loans even exist. The 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 lending them more money with far fewer requirements than their competitions.

Physician Home Loan Experts In Schaumburg Illinois

If you are trying to find a physician home loan in Schaumburg Illinois then you came to the right place.

You’ve trained very hard to become a doctor and buying home really 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 specifically for doctors?

Yup, doctors get their own mortgage!

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

We understand the financial demands of your student loan liability, and how important 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 depend on us to find a home loan that is exclusively tailored for your needs.

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

Despite these factors smart loan providers know that doctors are a good choice considering that they historically have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

Not all banks offer this specialized product and within banking institutions that do simply consulting with the right mortgage loan officer makes a tremendous difference.

Advantages of Physician Home Loans

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

Buying a home doesn’t have to drain your savings and the process doesn’t have to drain your time.

Should You Put Money Down?

Suppose you have some funds to put down or are thinking about waiting 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 situations, you’ll get your 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 offer more security and overall flexibility, particularly if something unplanned happens. With the 100% financed physician home mortgage loan, you should expect to begin under water. If something does not 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 just to get out of the home.

No matter if you’re moving down the road, across town or across the country, we are right here to help you throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Schaumburg Illinois physician home loan program!

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