Physician Home Loan St Charles Missouri

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 our clients are a first time home buyer or purchasing a new home in St Charles Missouri, our vetted loan officers have a solid understanding of the local real estate market and what it really takes to close your physician mortgage with proficiency and expertise.

Our loan officers in St Charles Missouri offer special financing for doctors, exactly 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 lending them more money with fewer requirements than their competitors.

Physician Loan Experts In St Charles Missouri

If you are searching for a physician home loan in St Charles Missouri then you came to the perfect place.

You’ve trained very hard to become a doctor and buying home shouldn’t 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 only for doctors?

Yup, doctors get their own mortgage!

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

We understand the budgetary demands of your student loan financial debt, and how essential it is to preserve working capital for when the time is right with launching your career. Whether you are a couple years into practice, or a well established doctor, you can count on us to find a mortgage loan that is exclusively tailored for your needs.

A large number of physicians in St Charles Missouri may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or minimal to no work history.

Despite these factors smart loan providers know that doctors are a good choice considering that they historically have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banking institutions that do simply talking to the right mortgage officer makes a tremendous difference.

Advantages of Physician Mortgage Loans

  • Usually does not include student loan monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Generally does not call for private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will accept a contract as documentation of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Money Down?

Suppose you have some money 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 scenario looks like and the advantages of each too.

In most instances, you’ll get your home mortgage paid off earlier and save thousands on interest rates too.

Furthermore, don’t overlook that having equity in your home will likely 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 should be prepared to write a potentially sizable check for as much as 10% of the purchase price just to get out of the house.

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

Doctors, get the house of your dreams with our St Charles Missouri physician loan program!

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