Physician Loan South Dakota

Regardless of whether our clients are a first time home buyer or buying a new home in South Dakota, our vetted loan officers have a solid understanding of the local area real estate market and what it takes to close your physician home loan with proficiency and expertise.

Our loan officers in South Dakota offer exclusive financing for doctors, like you.

First, let’s discuss why physician mortgage loans even exist. The main 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 doctor loans to lock in early career doctors by loaning them more money with far fewer requirements than their competitors.

Physician Home Loan Experts In South Dakota

If you are looking for a physician mortgage loan in South Dakota then you came to the perfect place.

You’ve worked very hard to become a doctor and buying home really should not be nearly as difficult.

Did you know there is a special loan that makes it easy for physicians to buy a home?

A home loan just for doctors?

Yup, doctors get their own loan!

A physician loan is a specialized loan program designed just for physicians in the home purchasing process.

We understand the financial demands of your student loan financial obligation, and how crucial 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 physician, you can rely on us to find a home loan that is specifically tailored for your needs.

Many doctors in South Dakota 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 bet because they historically have an extremely low default rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banking institutions that do just simply speaking with the best mortgage officer makes a remarkable difference.

Advantages of Physician Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income ratio.
  • Typically requires small to no down payment (0-5 percent).
  • Usually does not require private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Usually will approve an agreement as documentation of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

What if you have some money to put down or are looking at waiting until you have the money?

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

In most situations, you’ll get your home mortgage 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 unforeseen happens. With the 100% financed physician home mortgage loan, you ought to expect to begin under water. If something does not 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 simply to get out of the home.

No matter if you’re 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 Dakota physician home mortgage program!

Top cities in South Dakota for a physician loan.