Physician Loan In Somerville Massachusetts

Whether or not our clients are a first time home buyer or buying a new home in Somerville Massachusetts, our vetted loan officers have a strong understanding of the local area real estate industry and what it takes to secure your physician home mortgage with competency and know-how.

Our loan officers in Somerville Massachusetts offer specialized financing for doctors, like you.

First, let’s discuss why physician mortgage loans even exist. The reason is that doctors are really 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 loaning them more money with a lot fewer stipulations than their competitors.

Physician Loan Experts In Somerville Massachusetts

If you are searching for a physician mortgage loan in Somerville Massachusetts then you came to the right place.

You’ve worked very hard to become a doctor and purchasing home 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 just for doctors?

Yup, doctors get their own mortgage!

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

We recognize the financial demands of your student loan liability, and how vital it is to maintain working capital for when the time is right with starting your career. Whether or not you are a couple years into practice, or a well established doctor, you can count on us to find a mortgage loan that is specially tailored for your needs.

A large number of physicians in Somerville Massachusetts may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or minimal to no work history.

Despite these reasons smart financial institutions know that doctors are a good bet due to the fact that they typically have an extremely low default rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banks that do simply talking with the best mortgage officer makes an enormous difference.

Benefits of Physician Home Loans

  • Typically does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Generally does not necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will approve 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 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 funds?

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

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

Furthermore, don’t forget that having equity in your house will offer more security and overall flexibility, specifically if something unexpected happens. With the 100% financed physician home mortgage loan, you ought to expect 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 large check for as much as 10% of the purchase price just to get out of the house.

No matter if you’re relocating down the road, across town or across the country, we are available to lend a hand you throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Somerville Massachusetts physician home loan program!

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

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