Physician Home Loan Program In St. Louis Park Minnesota

Regardless if you are a first time home buyer or buying a new home in St. Louis Park Minnesota, our vetted loan officers have a solid understanding of the local area real estate industry and what it requires to secure your physician home mortgage with competency and expertise.

Our loan officers in St. Louis Park Minnesota offer special financing for doctors, exactly like you.

First, let’s discuss why physician mortgage loans even exist. The reason is that doctors are extremely 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 loaning them more money with a fewer number of terms than their competition.

Physician Home Loan Experts In St. Louis Park Minnesota

If you are trying to find a physician mortgage in St. Louis Park Minnesota then you came to the perfect place.

You’ve worked very hard to become a doctor and buying home should not 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 just for doctors?

Yup, doctors get their own loan!

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

We understand the personal financial demands of your student loan liability, and how important it is to preserve working capital for when the time is right with embarking upon your career. No matter if you are a couple years into practice, or a well established doctor, you can count on us to find a home loan that is exclusively tailored for your needs.

A large number of doctors in St. Louis Park Minnesota 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 lending institutions know that doctors are a good choice considering that they generally have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all financial institutions offer this specialized product and within banks that do simply speaking with the best mortgage officer makes an enormous difference.

Benefits of Physician Home Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Usually does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve an agreement as evidence of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

Suppose you have some funds to put down or are thinking about delaying until you have the cash?

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

Additionally, don’t overlook that having equity in your house will offer greater security and flexibility, especially if something unexpected happens. With the 100% financed physician mortgage loan, you ought to anticipate to start out under water. If something doesn’t work out and you’re forced to sell quickly, you need to be prepared to write a potentially large check for as much as 10% of the purchase price just to get out of the house.

Regardless of whether you’re relocating down the road, across town or across the country, we are 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 Park Minnesota physician home loan program!

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