Physician Home Loan Elkhart Indiana

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 Elkhart Indiana, our vetted loan officers have a solid understanding of the local real estate market and what it requires to secure your physician home mortgage with efficiency and know-how.

Our loan officers in Elkhart Indiana provide specialized financing for doctors, exactly 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 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 Loan Experts In Elkhart Indiana

If you are looking for a physician home loan in Elkhart Indiana then you came to the perfect place.

You’ve worked very hard to become a doctor and buying home really 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 only for doctors?

Yup, doctors get their own mortgage!

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

We understand the budgetary demands of your student loan debt, and how vital it is to preserve working capital for when the time is right with embarking upon your career. Whether or not you are a couple years into practice, or a well established doctor, you can rely on us to find a mortgage loan that is exclusively tailored for your needs.

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

Despite these reasons smart loan providers know that doctors are a good choice considering that they traditionally have an exceptionally low default rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do just simply consulting with the best mortgage officer makes an enormous difference.

Advantages of Physician Home Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Generally 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.

Buying a house doesn’t have to empty 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 delaying until you have the money?

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

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

Furthermore, don’t forget that having equity in your home will most likely offer more security and flexibility, particularly if something unplanned happens. With the 100% financed physician home mortgage loan, you should anticipate to start out underwater. 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 home.

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

Doctors, get the house of your dreams with our Elkhart Indiana physician loan program!

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

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