Physician Mortgage In Hammond 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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Whether or not our clients are a first time home buyer or buying a new home in Hammond Indiana, our vetted loan officers have a strong understanding of the local real estate industry and what it takes to secure your physician loan with proficiency and expertise.

Our loan officers in Hammond Indiana offer specialized financing for doctors, like you.

To start with, let’s talk about why physician mortgage loans even exist. The reason is that doctors are extremely 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 lending them more money with a lot fewer stipulations than their competitions.

Physician Home Loan Experts In Hammond Indiana

If you are searching for a physician loan in Hammond Indiana 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 mortgage is a special loan program put together just for doctors in the home purchasing process.

We are aware of the economic demands of your student loan financial debt, and how crucial it is to preserve working capital for when the time is right with starting your career. Whether you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is specially tailored for your needs.

A lot of physicians in Hammond Indiana 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 financial institutions know that doctors are a good choice because they traditionally have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do just simply speaking to the best home loan officer makes a remarkable difference.

Advantages of Physician Mortgage Loans

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

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

Should You Put Cash Down?

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

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

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

Additionally, don’t overlook that having equity in your house will offer more security and flexibility, specifically if something unexpected happens. With the 100% financed physician home mortgage loan, you should anticipate to start out under water. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially big check for up to 10% of the purchase price simply to get out of the house.

No matter if you are moving down the road, across town or across the country, we are here to lend a hand you through the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Hammond 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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