Physician Home Loan Wilkes Barre Pennsylvania

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 purchasing a new home in Wilkes Barre Pennsylvania, 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 know-how.

Our loan officers in Wilkes Barre Pennsylvania offer exclusive financing for doctors, just like you.

First off, let’s discuss why physician mortgage loans even exist. The 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 lock in early career doctors by loaning them more money with fewer requirements than their competitors.

Physician Home Loan Experts In Wilkes Barre Pennsylvania

If you are searching for a physician loan in Wilkes Barre Pennsylvania then you came to the right place.

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

Yup, doctors get their own mortgage!

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

We understand the financial demands of your student loan debt, and how essential it is to maintain working capital for when the time is right with embarking upon your career. Whether you are a couple years into practice, or a well established doctor, you can depend on us to find a home loan that is exclusively tailored for your needs.

Many doctors in Wilkes Barre Pennsylvania may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or minimal to no work history.

Despite these factors smart financial institutions know that doctors are a good choice due to the fact that they traditionally have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

Not all banks offer this specialized product and within banking institutions that do simply consulting with the right home loan officer makes a tremendous difference.

Advantages of Physician Mortgage Loans

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

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

Should You Put Money Down?

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

Our loan providers can do the math for you and show you what each scenario looks like and the advantages of each too.

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

Additionally, don’t overlook that having equity in your house will likely provide greater security and overall flexibility, particularly if something unexpected happens. With the 100% financed physician mortgage loan, you ought to anticipate to begin underwater. If something doesn’t work out and you are forced to sell quickly, you need to be prepared to write a potentially large check for up to 10% of the purchase price simply to get out of the house.

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

Doctors, get the house of your dreams with our Wilkes Barre Pennsylvania physician home loan program!

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