Physician Mortgage St Louis 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 you are a first time home buyer or buying a new home in St Louis Missouri, 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 competency and expertise.

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

First off, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are really profitable clients 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 Home Loan Experts In St Louis Missouri

If you are trying to find a physician loan in St Louis Missouri then you came to the right place.

You’ve worked very hard to become a doctor and buying home really 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 specifically for doctors?

Yup, doctors get their own home loan!

A physician loan is a customized loan program created just for doctors in the home purchasing process.

We recognize the economic demands of your student loan financial obligation, 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 depend on us to find a home loan that is specifically tailored for your needs.

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

Despite these factors smart lenders know that doctors are a good choice because they historically have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banking institutions that do just simply talking with the right home loan officer makes a significant difference.

Benefits of Physician Home 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 necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will accept a contract as proof 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 need to drain your time.

Should You Put Cash Down?

Suppose you have some money to put down or are considering waiting until you have the cash?

Our loan providers can do the math for you and show you what each circumstance looks like and the benefits of each too.

In most circumstances, you’ll get your home loan paid off sooner and save thousands on interest too.

Additionally, don’t overlook that having equity in your house will definitely provide greater security and flexibility, specifically if something unforeseen happens. With the 100% financed physician mortgage loan, you should expect to start out under water. If something doesn’t work out and you’re forced to sell quickly, you should be prepared to write a potentially big check for as much as 10% of the purchase price simply to get out of the home.

No matter if you’re relocating down the street, across town or across the country, we are right here to work with you through the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our St Louis Missouri physician home mortgage program!

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