Physician Mortgage In Skokie Illinois

Whether our clients are a first time home buyer or purchasing a new home in Skokie Illinois, our vetted loan officers have a strong understanding of the local area real estate market and what it takes to secure your physician mortgage with efficiency and know-how.

Our loan officers in Skokie Illinois offer special financing for doctors, just like you.

First off, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are extremely 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 lock in early career doctors by loaning them more money with a lot fewer stipulations than their competition.

Physician Mortgage Experts In Skokie Illinois

If you are looking for a physician mortgage in Skokie Illinois then you came to the perfect 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 specifically for doctors?

Yup, doctors get their own mortgage!

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

We are aware of the budgetary demands of your student loan debt, and how vital it is to maintain working capital for when the time is right with starting 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 home loan that is specifically tailored for your needs.

Quite a few doctors in Skokie Illinois may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or little to no work history.

Despite these reasons smart loan providers know that doctors are a good bet considering that they generally have an exceptionally low default rate on loans, high earning potential and stable jobs.

Not all financial institutions offer this specialized product and within banks that do simply speaking to the right mortgage officer makes a tremendous difference.

Advantages of Physician Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires low 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 evidence of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

Purchasing a house doesn’t need to drain your savings and the process doesn’t need to drain your time.

Should You Put Cash Down?

What if you have some cash 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 circumstance 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.

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

Whether you are moving down the road, across town or across the country, we are available to assist you throughout the physician home mortgage process:: because you deserve it!

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

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

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