Physician Home Loan Program Joplin Missouri

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 buying a new home in Joplin Missouri, our vetted loan officers have a strong understanding of the local area real estate industry and what it takes to close your physician home mortgage with efficiency and know-how.

Our loan officers in Joplin Missouri offer exclusive financing for doctors, like you.

First off, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are really 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 loaning them more money with far fewer stipulations than their competitors.

Physician Loan Experts In Joplin Missouri

If you are searching for a physician mortgage loan in Joplin Missouri then you came to the perfect place.

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

Yup, doctors get their own loan!

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

We recognize the budgetary demands of your student loan liability, 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 count on us to find a home loan that is specially tailored for your needs.

A lot of doctors in Joplin Missouri may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or minimal to no work history.

Despite these factors smart lending institutions know that doctors are a good bet considering that they generally have an extremely low default rate on loans, high earning potential and secure jobs.

Not all mortgage lenders offer this specialized product and within banks that do simply speaking to the right mortgage loan officer makes a remarkable difference.

Benefits of Physician Mortgage Loans

  • Usually does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Usually does not require private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will approve a contract as proof of future earnings, instead of pay stubs or W-2s, that 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 money to put down or are considering delaying until you have the cash?

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

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

Additionally, don’t overlook that having equity in your house will most likely provide more security and flexibility, especially if something unexpected happens. With the 100% financed physician home mortgage loan, you should anticipate to begin under water. 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 home.

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

Doctors, get the home of your dreams with our Joplin Missouri physician home loan program!

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