Physician Mortgage In Summerville South Carolina

Regardless of whether our clients 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 area real estate industry and what it really requires to close your physician mortgage with competency and know-how.

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

First and foremost, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are very profitable clients 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 fewer terms than their competitions.

Physician Mortgage Experts In Summerville South Carolina

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

You’ve worked very hard to become a doctor and buying home 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 loan!

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

We understand the economic demands of your student loan debt, and how essential it is to preserve 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 rely on us to find a home loan that is specifically tailored for your needs.

Quite a few physicians in Summerville South Carolina may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or very little to no work history.

Despite these factors smart financial institutions know that doctors are a good bet due to the fact that they traditionally have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

Not all financial institutions offer this specialized product and within banks that do just simply talking to the right mortgage loan officer makes a remarkable difference.

Benefits of Physician Home Loans

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

Purchasing a house doesn’t have to empty 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 waiting until you have the funds?

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

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

Furthermore, don’t overlook that having equity in your house will provide more security and flexibility, particularly if something unplanned happens. With the 100% financed physician mortgage loan, you should expect to begin under water. If something doesn’t work out and you are 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 home.

Whether you are relocating down the road, across town or across the country, we are right here to assist you all throughout the physician home mortgage process:: because you deserve it!

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

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