Physician Mortgage In Warren Michigan

Whether our clients are a first time home buyer or purchasing a new home in Warren Michigan, our vetted loan officers have a strong understanding of the local real estate market and what it requires to secure your physician loan with competency and expertise.

Our loan officers in Warren Michigan provide special financing for doctors, just like you.

First off, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are really profitable clients 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 lending them more money with fewer terms than their competition.

Physician Loan Experts In Warren Michigan

If you are looking for a physician mortgage loan in Warren Michigan then you came to the right place.

You’ve trained very hard to become a doctor and purchasing 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 mortgage!

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

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

A large number of physicians in Warren Michigan 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 reasons smart financial institutions 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 secure jobs.

Not all lenders offer this specialized product and within banks that do simply speaking with the right mortgage loan officer makes a significant difference.

Advantages of Physician Home Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Often does not necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will accept a contract as documentation of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

Suppose 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 advantages of each too.

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

Additionally, don’t overlook that having equity in your home will definitely provide more security and overall flexibility, especially if something unforeseen happens. With the 100% financed physician mortgage loan, you ought to expect to begin under water. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially big check for as much as 10% of the purchase price simply to get out of the house.

No matter if you’re moving down the street, across town or across the country, we are available to help you through the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Warren Michigan physician home mortgage program!

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

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