Physician Loan In Auburn Alabama

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 you are a first time home buyer or buying a new home in Auburn Alabama, our vetted loan officers have a strong understanding of the local area real estate industry and what it really takes to secure your physician home mortgage with proficiency and know-how.

Our loan officers in al geo provide exclusive financing for doctors, exactly like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The reason is that doctors are really profitable customers 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 fewer requirements than their competitors.

Physician Home Loan Experts In Auburn Alabama

If you are searching for a physician home loan in Auburn Alabama then you came to the perfect place.

You’ve trained very hard to become a doctor and buying home 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 just for doctors?

Yup, doctors get their own loan!

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

We are aware of the personal financial demands of your student loan financial obligation, and how crucial it is to preserve working capital for when the time is right with embarking upon your career. Whether or not you are a couple years into practice, or a well established doctor, you can count on us to find a home loan that is exclusively tailored for your needs.

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

Despite these reasons smart lenders know that doctors are a good bet due to the fact that they typically have an incredibly low default rate on loans, high earning potential and stable jobs.

Not all financial institutions offer this specialized product and within banking institutions that do simply consulting with the best mortgage officer makes a remarkable difference.

Advantages of Physician Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Generally does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will accept 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 need to empty your savings and the process doesn’t have to drain your time.

Should You Put Cash Down?

What if you have some funds to put down or are thinking about delaying until you have the cash?

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

In most instances, you’ll get your mortgage loan paid off earlier and save thousands of dollars on interest rates too.

Additionally, don’t forget that having equity in your home will definitely offer greater security and flexibility, particularly if something unexpected happens. With the 100% financed physician mortgage loan, you should anticipate to start out under water. 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 just to get out of the house.

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

Doctors, get the home of your dreams with our Auburn Alabama 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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