Physician Mortgage In Warren Michigan

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 you are a first time home buyer or buying a new home in Warren Michigan, our vetted loan officers have a solid understanding of the local area real estate industry and what it really takes to secure your physician home loan with proficiency and know-how.

Our loan officers in Warren Michigan offer special 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 extremely profitable clients for lenders. They take out big loans early in their careers and almost always pay them off. Lenders use physician home loans to secure early career doctors by lending them more money with far fewer stipulations than their competitors.

Physician Loan Experts In Warren Michigan

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

You’ve trained very hard to become a doctor and purchasing home really 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 home loan!

A physician loan is a customized loan program put together just for doctors in the home purchasing process.

We are aware of the personal financial demands of your student loan financial debt, and how crucial it is to preserve 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 mortgage loan that is exclusively tailored for your needs.

A large number of doctors in Warren Michigan may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or very little to no work history.

Despite these factors smart lending institutions know that doctors are a good bet because they historically have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

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

Benefits of Physician Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires low 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 a contract as documentation of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

What if you have some cash to put down or are thinking about waiting until you have the cash?

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

Additionally, don’t overlook that having equity in your house will most likely offer greater security and overall flexibility, specifically if something unexpected happens. With the 100% financed physician home mortgage loan, you ought to anticipate 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 up to 10% of the purchase price simply to get out of the home.

No matter if you are relocating down the road, across town or across the country, we are available to lend a hand you throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Warren Michigan 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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