Physician Home Loan Troy New York

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 our clients are a first time home buyer or buying a new home in Troy New York, our vetted loan officers have a strong understanding of the local area real estate industry and what it takes to close your physician home mortgage with proficiency and expertise.

Our loan officers in Troy New York provide special financing for doctors, exactly like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The 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 a fewer number of stipulations than their competitions.

Physician Home Mortgage Experts In Troy New York

If you are searching for a physician mortgage loan in Troy New York then you came to the perfect 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 home loan!

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

We are aware of the financial demands of your student loan debt, and how important it is to maintain working capital for when the time is right with launching your career. Whether you are a couple years into practice, or a well established doctor, you can depend on us to find a home loan that is exclusively tailored for your needs.

Quite a few doctors in Troy New York may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or very little to no work history.

Despite these reasons smart loan providers know that doctors are a good bet considering that they typically have an incredibly low default rate on loans, high earning potential and stable jobs.

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

Benefits of Physician Home Mortgage Loans

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

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

Should You Put Cash Down?

What if you have some funds to put down or are looking at waiting until you have the funds?

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

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

Furthermore, don’t forget that having equity in your house will definitely provide more security and flexibility, particularly if something unanticipated happens. With the 100% financed physician mortgage loan, you should anticipate 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 as much as 10% of the purchase price simply to get out of the house.

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

Doctors, get the home of your dreams with our Troy New York physician home loan program!

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