Home Mortgage For Physician Yakima Washington

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 purchasing a new home in Yakima Washington, our vetted loan officers have a solid understanding of the local area real estate industry and what it takes to close your physician home mortgage with competency and know-how.

Our loan officers in Yakima Washington offer exclusive financing for doctors, like you.

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

Physician Loan Experts In Yakima Washington

If you are looking for a physician mortgage loan in Yakima Washington 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 difficult.

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 made just for doctors in the home purchasing process.

We are aware of the budgetary demands of your student loan liability, and how crucial it is to maintain working capital for when the time is right with launching your career. Regardless 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 specially tailored for your needs.

A lot of doctors in Yakima Washington may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation or little to no work history.

Despite these reasons smart lending institutions know that doctors are a good choice due to the fact that they historically have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do simply speaking with the right home loan officer makes a significant difference.

Benefits of Physician Home Loans

  • Usually does not include student loan monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Typically does not call for private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve an agreement as documentation of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

What if you have some money to put down or are considering delaying until you have the money?

Our mortgage lenders 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 loan paid off earlier and save thousands of dollars on interest rates too.

Additionally, don’t overlook that having equity in your home will definitely offer more security and overall flexibility, specifically if something unplanned happens. With the 100% financed physician mortgage loan, you should expect to begin underwater. If something doesn’t work out and you’re forced to sell quickly, you should be prepared to write a potentially sizable check for up to 10% of the purchase price simply to get out of the house.

No matter if you are moving down the street, across town or across the country, we are right here to lend a hand you throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Yakima Washington physician home mortgage program!

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