Home Mortgage For Physician West New York New Jersey

Preferred Physician Loan Officer

Jim Webster
NMLS# 658933
Mobile: (240) 620-1414
Email: jwebster@fultonmortgagecompany.com
Website: www.fultonmortgagecompany.com/jimwebster

  • Available terms 15 year fixed, 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM and 15/1ARM
  • 100% financing to $1,500,000
  • 700 minimum credit score
  • No Mortgage Insurance
  • Signed employment contract with guaranteed income allowed for qualifying if start of new job is not more than 60 days from settlement of home purchase
  • Available for MD, DO, DMD, PHARMD, DVM and DDS
  • Residents and Fellows allowed student loans deferred for 12 months not counted in debt to income ratio
  • Practicing Doctors must not be out of Residency more than 10 years unless they are relocating for a new job
  • Self-employed or RVU paid doctors need 2 years filed federal tax returns for income qualification
  • Bank checking account with auto mortgage payment from that account required.
Get Your Physician Loan Rates Now by Completing the Form Below.

Regardless if our clients are a first time home buyer or buying a new home in West New York New Jersey, our vetted loan officers have a solid understanding of the local area real estate market and what it requires to secure your physician home mortgage with proficiency and know-how.

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

First, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are extremely 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 secure early career doctors by lending them more money with a fewer number of stipulations than their competitions.

Physician Mortgage Experts In West New York New Jersey

If you are searching for a physician loan in West New York New Jersey then you came to the right 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 mortgage!

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

We are aware of the economic demands of your student loan financial obligation, and how essential it is to maintain working capital for when the time is right with embarking upon 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 exclusively tailored for your needs.

Quite a few doctors in West New York New Jersey may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial debt or very little 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 default rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do just simply talking to the right mortgage officer makes a tremendous difference.

Benefits of Physician Mortgage Loans

  • Typically does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Generally does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept an agreement as documentation of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

Suppose you have some funds to put down or are considering waiting 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 circumstances, you’ll get your home mortgage paid off sooner and save thousands on interest too.

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

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

Doctors, get the house of your dreams with our West New York New Jersey physician home loan program!

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