Home Mortgage For Physicians In Utica 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 Utica New York, our vetted loan officers have a solid understanding of the local real estate market and what it really requires to close your physician home mortgage with proficiency and expertise.

Our loan officers in Utica New York offer specialized financing for doctors, exactly like you.

First off, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are very profitable clients for lending 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 Loan Experts In Utica New York

If you are trying to find a physician loan in Utica New York then you came to the right place.

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

Yup, doctors get their own mortgage!

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

We are aware of the financial demands of your student loan liability, and how crucial it is to preserve working capital for when the time is right with starting your career. No matter if you are a couple years into practice, or a well established doctor, you can depend on us to find a mortgage loan that is specifically tailored for your needs.

Many doctors in Utica 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 minimal to no work history.

Despite these reasons smart lending institutions know that doctors are a good bet considering that they generally have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do simply talking with the best mortgage officer makes an enormous difference.

Advantages of Physician Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires small 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 an agreement as proof of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Cash Down?

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

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 instances, 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 likely provide greater security and flexibility, specifically if something unplanned happens. With the 100% financed physician home mortgage loan, you ought to expect to start out underwater. If something doesn’t 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 simply to get out of the home.

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

Doctors, get the home of your dreams with our Utica New York 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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