Physician Mortgage Franklin Tennessee

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 Franklin Tennessee, our vetted loan officers have a solid understanding of the local area real estate industry and what it really takes to secure your physician loan with competency and know-how.

Our loan officers in Franklin Tennessee provide specialized financing for doctors, just like you.

To start with, let’s talk about why physician mortgage loans even exist. The reason is that doctors are really profitable clients 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 a fewer number of requirements than their competitors.

Physician Mortgage Experts In Franklin Tennessee

If you are trying to find a physician loan in Franklin Tennessee then you came to the right place.

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

Yup, doctors get their own home loan!

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

We are aware of the personal financial demands of your student loan financial debt, 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 mortgage loan that is exclusively tailored for your needs.

A large number of physicians in Franklin Tennessee 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 factors smart loan providers know that doctors are a good bet due to the fact that they traditionally have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

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

Advantages of Physician Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires small 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 accept an agreement as proof of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Money Down?

Suppose you have some funds to put down or are thinking about waiting until you have the funds?

Our 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 mortgage paid off sooner and save thousands on interest too.

Additionally, don’t overlook that having equity in your home will definitely provide more security and flexibility, especially if something unforeseen happens. With the 100% financed physician mortgage loan, you should expect to start out underwater. If something does not work out and you are forced to sell quickly, you need to be prepared to write a potentially sizable check for as much as 10% of the purchase price just to get out of the house.

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

Doctors, get the home of your dreams with our Franklin Tennessee physician loan program!

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

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