Physician Home Loan Program In Waterloo Iowa

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 our clients are a first time home buyer or buying a new home in Waterloo Iowa, our vetted loan officers have a strong understanding of the local real estate market and what it requires to close your physician loan with efficiency and know-how.

Our loan officers in Waterloo Iowa provide specialized financing for doctors, just like you.

To start with, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very 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 lending them more money with fewer requirements than their competitors.

Physician Home Mortgage Experts In Waterloo Iowa

If you are searching for a physician mortgage loan in Waterloo Iowa then you came to the perfect place.

You’ve worked very hard to become a doctor and purchasing 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 specifically for doctors?

Yup, doctors get their own home loan!

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

We are aware of the economic demands of your student loan debt, and how vital it is to preserve working capital for when the time is right with embarking upon your career. No matter if you are a couple years into practice, or a well established doctor, you can rely on us to find a mortgage loan that is exclusively tailored for your needs.

A large number of physicians in Waterloo Iowa may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or minimal to no work history.

Despite these reasons smart loan providers know that doctors are a good choice considering that they traditionally have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

Not all lenders offer this specialized product and within banking institutions that do just simply consulting with the best mortgage loan officer makes a tremendous difference.

Benefits of Physician Home Loans

  • Usually does not include student loan monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Generally does not call for private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will accept an agreement 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 need to drain your time.

Should You Put Money Down?

Suppose you have some money to put down or are looking at waiting until you have the cash?

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

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

Additionally, don’t forget that having equity in your house will likely offer greater security and overall flexibility, particularly if something unexpected happens. With the 100% financed physician mortgage loan, you should 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 up to 10% of the purchase price just to get out of the house.

Whether you’re moving down the road, across town or across the country, we are here to lend a hand you throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Waterloo Iowa 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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