Home Mortgage For Physicians In Sioux City Iowa

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 our clients are a first time home buyer or purchasing a new home in Sioux City Iowa, our vetted loan officers have a solid understanding of the local real estate market and what it takes to secure your physician home mortgage with proficiency and know-how.

Our loan officers in Sioux City Iowa provide specialized 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 customers for lending 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 competitions.

Physician Mortgage Experts In Sioux City Iowa

If you are trying to find a physician mortgage in Sioux City Iowa then you came to the right place.

You’ve worked very hard to become a doctor and buying home shouldn’t 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 loan!

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

We are aware of the economic demands of your student loan debt, and how vital it is to preserve working capital for when the time is right with embarking upon 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 home loan that is specially tailored for your needs.

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

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

Not all banks offer this specialized product and within banks that do just simply speaking to the right home loan officer makes a tremendous difference.

Advantages of Physician Mortgage Loans

  • Usually does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Usually does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will accept a contract as evidence of future earnings, instead 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 need to drain your time.

Should You Put Cash Down?

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

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

In most circumstances, you’ll get your home loan paid off sooner and save thousands of dollars on interest rates too.

Additionally, don’t forget that having equity in your house will offer greater security and flexibility, specifically if something unplanned happens. With the 100% financed physician home mortgage loan, you should anticipate to start out underwater. If something does not work out and you are forced to sell quickly, you should be prepared to write a potentially large check for up to 10% of the purchase price just to get out of the house.

No matter if you are moving down the street, across town or across the country, we are here to assist you throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Sioux City Iowa physician home loan program!

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