Physician Mortgage Colorado Springs Colorado

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 or not you are a first time home buyer or purchasing a new home in Colorado Springs Colorado, our vetted loan officers have a strong understanding of the local area real estate market and what it really takes to secure your physician mortgage with proficiency and know-how.

Our loan officers in Colorado Springs Colorado offer specialized financing for doctors, just like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The reason is that doctors are very profitable clients 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 lending them more money with fewer stipulations than their competitors.

Physician Mortgage Experts In Colorado Springs Colorado

If you are searching for a physician mortgage loan in Colorado Springs Colorado then you came to the right place.

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

Yup, doctors get their own mortgage!

A physician mortgage is a customized loan program developed just for doctors in the home purchasing process.

We recognize the economic demands of your student loan debt, and how essential 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 rely on us to find a mortgage loan that is specially tailored for your needs.

A large number of doctors in Colorado Springs Colorado 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 choice due to the fact that they historically have an incredibly low nonpayment rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do simply speaking to the best mortgage officer makes a significant difference.

Advantages of Physician Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Usually does not require private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept an agreement as evidence of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

Purchasing a home doesn’t have to drain 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 looking at delaying until you have the funds?

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

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

Additionally, don’t forget that having equity in your home will definitely offer greater security and overall flexibility, especially if something unplanned happens. With the 100% financed physician home mortgage loan, you should expect to start out underwater. If something doesn’t work out and you are 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.

Regardless of whether you are relocating down the street, across town or across the country, we are right here to work with you all throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Colorado Springs Colorado physician home loan program!

Less than an hour ago, doctors just like you requested a loan from the locations listed below.

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