Physician Home Loan Program In Sumter 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 if our clients are a first time home buyer or buying a new home in Sumter South Carolina, our vetted loan officers have a solid understanding of the local real estate market and what it really requires to close your physician loan with competency and know-how.

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

To start with, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are really profitable customers 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 fewer terms than their competitions.

Physician Home Mortgage Experts In Sumter South Carolina

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

You’ve trained very hard to become a doctor and purchasing home shouldn’t 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 mortgage!

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

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

A large number of doctors in Sumter South Carolina 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 due to the fact that they generally have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

Not all banks offer this specialized product and within banking institutions that do simply speaking to the best home loan officer makes a tremendous difference.

Benefits of Physician Home Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Often does not call for private mortgage insurance (PMI), despite the fact that 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 house doesn’t need to drain your savings and the process doesn’t need 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 mortgage lenders can do the math for you and show you what each circumstance looks like and the advantages of each too.

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

Furthermore, don’t overlook that having equity in your house will most likely offer more security and flexibility, specifically if something unplanned happens. With the 100% financed physician mortgage loan, you should expect to begin underwater. If something doesn’t work out and you are forced to sell quickly, you should be prepared to write a potentially sizable check for up to 10% of the purchase price simply to get out of the home.

No matter if you’re moving down the road, across town or across the country, we are right here to lend a hand you throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Sumter South Carolina physician home loan program!

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

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