Physician Home Loan Program In South Bend Indiana

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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Regardless if you are a first time home buyer or buying a new home in South Bend Indiana, our vetted loan officers have a solid understanding of the local area real estate market and what it takes to secure your physician mortgage with competency and expertise.

Our loan officers in South Bend Indiana offer special financing for doctors, like you.

First, let’s talk about why physician mortgage loans even exist. The reason is that doctors are really profitable clients for lenders. 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 terms than their competitors.

Physician Loan Experts In South Bend Indiana

If you are searching for a physician loan in South Bend Indiana then you came to the right place.

You’ve trained very hard to become a doctor and purchasing 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 loan is a special loan program created just for doctors in the home buying process.

We understand the financial demands of your student loan financial debt, and how essential it is to maintain working capital for when the time is right with starting your career. Regardless 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 specially tailored for your needs.

A large number of doctors in South Bend Indiana 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 lenders know that doctors are a good bet because they generally have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

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

Benefits of Physician Home Loans

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

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

Should You Put Money Down?

What if you have some cash to put down or are thinking about waiting until you have the funds?

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

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

Additionally, don’t overlook that having equity in your home will definitely provide more security and overall flexibility, especially if something unplanned 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 are forced to sell quickly, you need to be prepared to write a potentially big check for as much as 10% of the purchase price simply to get out of the home.

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

Doctors, get the home of your dreams with our South Bend Indiana physician loan program!

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

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