Physician Home Loan Program In Frederick Maryland

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 our clients are a first time home buyer or buying a new home in Frederick Maryland, our vetted loan officers have a solid understanding of the local area real estate industry and what it takes to close your physician loan with efficiency and know-how.

Our loan officers in Frederick Maryland provide specialized financing for doctors, just like you.

First, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are really profitable clients for financial 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 loaning them more money with fewer requirements than their competitors.

Physician Loan Experts In Frederick Maryland

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

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

Yup, doctors get their own home loan!

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

We recognize the financial demands of your student loan financial debt, and how vital it is to preserve working capital for when the time is right with embarking upon 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 specifically tailored for your needs.

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

Despite these reasons smart lenders know that doctors are a good bet because they traditionally have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all financial institutions offer this specialized product and within banks that do simply consulting with the best home loan officer makes a tremendous difference.

Advantages of Physician Home Mortgage Loans

  • Typically 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 necessitate private mortgage insurance (PMI), even when 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 home doesn’t have to drain your savings and the process doesn’t need to drain your time.

Should You Put Cash Down?

What if you have some cash to put down or are thinking about 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 benefits of each too.

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

Additionally, don’t forget that having equity in your house will definitely provide greater security and flexibility, specifically if something unexpected happens. With the 100% financed physician home mortgage loan, you ought to 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.

No matter if you’re moving down the street, across town or across the country, we are right here to assist you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Frederick Maryland 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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