Physician Home Loan Program In State College Pennsylvania

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 or not you are a first time home buyer or buying a new home in State College Pennsylvania, our vetted loan officers have a solid understanding of the local area real estate market and what it requires to close your physician mortgage with proficiency and know-how.

Our loan officers in State College Pennsylvania offer special financing for doctors, just like you.

To start with, 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 loaning them more money with far fewer terms than their competitions.

Physician Mortgage Experts In State College Pennsylvania

If you are searching for a physician home loan in State College Pennsylvania then you came to the right place.

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

Yup, doctors get their own mortgage!

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

We are aware of the financial demands of your student loan liability, and how essential it is to maintain working capital for when the time is right with launching 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 mortgage loan that is specifically tailored for your needs.

Many doctors in State College Pennsylvania 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 banks that do just simply talking with the best mortgage officer makes a tremendous difference.

Benefits of Physician Home Mortgage Loans

  • Typically does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Typically does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept a contract as documentation of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Money Down?

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

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

In most situations, you’ll get your mortgage loan paid off sooner and save thousands on interest rates too.

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

Whether you are relocating down the street, 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 State College Pennsylvania physician loan program!

Less than an hour ago, doctors just like you requested a loan from the locations listed below.

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