Physician Home Loan Program In Tuscaloosa Alabama

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 Tuscaloosa Alabama, our vetted loan officers have a strong understanding of the local real estate market and what it really takes to close your physician home mortgage with competency and expertise.

Our loan officers in al geo offer specialized financing for doctors, exactly like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are really 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 a lot fewer requirements than their competitors.

Physician Home Mortgage Experts In Tuscaloosa Alabama

If you are searching for a physician loan in Tuscaloosa Alabama then you came to the right place.

You’ve trained very hard to become a doctor and buying home really 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 only for doctors?

Yup, doctors get their own home loan!

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

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

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

Despite these reasons smart lenders know that doctors are a good bet due to the fact that they typically 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 simply speaking to the right mortgage officer makes a significant difference.

Benefits of Physician Home Loans

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

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

Should You Put Money Down?

Suppose you have some funds to put down or are looking at delaying until you have the money?

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

In most instances, you’ll get your mortgage paid off earlier and save thousands on interest rates too.

Furthermore, don’t forget that having equity in your house will most likely offer greater security and flexibility, especially if something unforeseen happens. With the 100% financed physician home mortgage loan, you should expect to begin underwater. If something does not work out and you’re forced to sell quickly, you need to be prepared to write a potentially sizable check for as much as 10% of the purchase price just to get out of the home.

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

Doctors, get the house of your dreams with our Tuscaloosa Alabama physician loan program!

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

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