Home Mortgage For Physician St Joseph 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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Regardless if our clients are a first time home buyer or buying a new home in St Joseph Missouri, our vetted loan officers have a strong understanding of the local real estate market and what it really requires to close your physician loan with efficiency and expertise.

Our loan officers in St Joseph Missouri offer exclusive financing for doctors, like you.

First off, let’s talk about why physician mortgage loans even exist. The reason is that doctors are very profitable customers 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 competitions.

Physician Home Mortgage Experts In St Joseph Missouri

If you are searching for a physician mortgage loan in St Joseph Missouri then you came to the right place.

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

Yup, doctors get their own loan!

A physician mortgage is a specialty loan program developed just for doctors in the home purchasing process.

We recognize the financial demands of your student loan debt, and how essential it is to maintain working capital for when the time is right with embarking upon your career. Regardless if you are a couple years into practice, or a well established doctor, you can count on us to find a mortgage loan that is specifically tailored for your needs.

Quite a few physicians in St Joseph Missouri may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or very little to no work history.

Despite these reasons smart loan providers 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 stable jobs.

Not all lenders offer this specialized product and within banks that do simply consulting with the right home loan officer makes an enormous difference.

Advantages of Physician Home Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Often does not require 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, which don’t yet exist.

Buying a home doesn’t have to empty your savings and the process doesn’t have to drain your time.

Should You Put Cash Down?

What if 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 situation looks like and the advantages of each too.

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

Additionally, don’t forget that having equity in your home will most likely offer greater security and overall flexibility, especially if something unanticipated happens. With the 100% financed physician home mortgage loan, you should anticipate to start out under water. If something does not work out and you’re forced to sell quickly, you need to be prepared to write a potentially sizable check for up to 10% of the purchase price just to get out of the house.

No matter if you are moving down the road, across town or across the country, we are right here to assist you throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our St Joseph Missouri 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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