Physician Loan In Pasadena 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 of whether you are a first time home buyer or purchasing a new home in Pasadena Texas, our vetted loan officers have a strong understanding of the local area real estate market and what it takes to close your physician home loan with efficiency and know-how.

Our loan officers in Pasadena Texas offer special financing for doctors, just like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are extremely profitable customers for lenders. 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 competitions.

Physician Home Loan Experts In Pasadena Texas

If you are searching for a physician loan in Pasadena Texas then you came to the perfect place.

You’ve trained very hard to become a doctor and buying home shouldn’t 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 special loan program put together just for doctors in the home buying process.

We understand the financial demands of your student loan liability, and how vital it is to preserve working capital for when the time is right with starting 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 lot of physicians in Pasadena Texas 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 loan providers know that doctors are a good bet because they generally have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

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

Advantages of Physician Mortgage Loans

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

Buying a home doesn’t need to drain your savings and the process doesn’t have to drain your time.

Should You Put Cash Down?

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

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

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

Furthermore, don’t forget that having equity in your home will likely provide more security and overall flexibility, particularly if something unexpected happens. With the 100% financed physician home mortgage loan, you ought to anticipate to start out underwater. If something doesn’t work out and you’re forced to sell quickly, you need to be prepared to write a potentially sizable check for as much as 10% of the purchase price simply to get out of the home.

Whether you’re moving down the street, across town or across the country, we are available to help you throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Pasadena Texas physician loan program!

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