Physician Mortgage In Summerville South Carolina

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 of whether you are a first time home buyer or purchasing a new home in Summerville South Carolina, our vetted loan officers have a solid understanding of the local real estate industry and what it requires to close your physician home mortgage with proficiency and know-how.

Our loan officers in Summerville South Carolina offer special financing for doctors, exactly like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The reason is that doctors are extremely profitable clients for financial institutions. 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 lot fewer requirements than their competitions.

Physician Home Mortgage Experts In Summerville South Carolina

If you are searching for a physician loan in Summerville South Carolina then you came to the right place.

You’ve worked very hard to become a doctor and purchasing 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 mortgage!

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

We understand the personal financial demands of your student loan debt, and how important it is to maintain working capital for when the time is right with starting 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.

Many doctors in Summerville South Carolina may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or little to no work history.

Despite these factors smart financial institutions know that doctors are a good choice because they traditionally have an incredibly 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 speaking to the right mortgage loan officer makes an enormous difference.

Benefits of Physician Mortgage Loans

  • Usually does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Often does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve a contract as evidence of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Money Down?

What if you have some cash to put down or are considering delaying until you have the money?

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

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

Additionally, don’t overlook that having equity in your home will offer more security and overall flexibility, particularly if something unanticipated happens. With the 100% financed physician home mortgage loan, you ought to expect to start out under water. If something doesn’t work out and you are 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 home.

Regardless of whether you’re relocating down the street, across town or across the country, we are right here to assist you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Summerville South Carolina physician loan program!

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