Regardless of whether our clients are a first time home buyer or purchasing a new home in Wilmington North Carolina, our vetted loan officers have a strong understanding of the local area real estate industry and what it really requires to close your physician home mortgage with competency and expertise.
Our loan officers in Wilmington North Carolina provide exclusive financing for doctors, like you.
To start with, let’s discuss why physician mortgage loans even exist. The reason is that doctors are very 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 loaning them more money with a lot fewer stipulations than their competitions.
Physician Home Mortgage Experts In Wilmington North Carolina
If you are searching for a physician loan in Wilmington North Carolina then you came to the perfect place.
You’ve worked very hard to become a doctor and purchasing home shouldn’t 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 just for doctors?
Yup, doctors get their own mortgage!
A physician home mortgage is a specialized loan program created just for doctors in the home purchasing process.
We understand the financial demands of your student loan debt, and how crucial it is to maintain working capital for when the time is right with starting your career. Regardless if you are a couple years into practice, or a well established doctor, you can count on us to find a home loan that is specifically tailored for your needs.
Many doctors in Wilmington North Carolina may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or very little to no work history.
Despite these factors smart lenders know that doctors are a good choice because they historically have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.
Not all financial institutions offer this specialized product and within banking institutions that do simply speaking with the right mortgage officer makes a remarkable difference.
Benefits of Physician Home Mortgage Loans
- Usually does not include student loan monthly payments in debt-to-income ratio.
- Requires small to no down payment (0-5 percent).
- Typically does not require private mortgage insurance (PMI), even when lower than 20 percent down payment.
- Will approve an agreement as documentation of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.
Purchasing a house doesn’t need to empty your savings and the process doesn’t have to drain your time.
Should You Put Money Down?
What if you have some cash to put down or are considering delaying until you have the money?
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 cases, you’ll get your home mortgage paid off sooner and save thousands on interest rates too.
Additionally, don’t forget that having equity in your home will likely offer greater security and flexibility, specifically if something unexpected happens. With the 100% financed physician mortgage loan, you ought to anticipate to begin under water. 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 house.
Whether you are moving down the street, across town or across the country, we are here to assist you through the physician home mortgage process:: because you deserve it!
Doctors, get the house of your dreams with our Wilmington North Carolina physician home mortgage program!