Physician Loan In Plano Texas

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 our clients are a first time home buyer or buying a new home in Plano Texas, our vetted loan officers have a solid understanding of the local area real estate market and what it really takes to close your physician loan with proficiency and expertise.

Our loan officers in Plano Texas offer special financing for doctors, exactly like you.

First off, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are very 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 lock in early career doctors by loaning them more money with a fewer number of stipulations than their competitions.

Physician Mortgage Experts In Plano Texas

If you are looking for a physician loan in Plano Texas then you came to the right place.

You’ve worked very hard to become a doctor and purchasing home 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 just for doctors?

Yup, doctors get their own loan!

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

We understand the economic demands of your student loan financial obligation, and how vital it is to preserve working capital for when the time is right with launching your career. No matter if you are a couple years into practice, or a well established doctor, you can depend on us to find a mortgage loan that is specifically tailored for your needs.

A large number of doctors in Plano Texas may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or little to no work history.

Despite these factors smart lenders know that doctors are a good bet because they typically have an extremely low default rate on loans, high earning potential and stable jobs.

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

Advantages of Physician Home Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Often does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept a contract 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 have to drain your time.

Should You Put Money Down?

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

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

In most cases, you’ll get your home loan paid off sooner and save thousands on interest rates too.

Furthermore, don’t forget that having equity in your home will offer greater security and overall flexibility, especially if something unanticipated happens. With the 100% financed physician mortgage loan, you ought to anticipate to begin underwater. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially sizable check for as much as 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 right here to lend a hand you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Plano Texas 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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