Home Mortgage For Physicians In Muncie 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 if our clients are a first time home buyer or buying a new home in Muncie Indiana, our vetted loan officers have a solid understanding of the local real estate industry and what it really requires to close your physician loan with competency and expertise.

Our loan officers in Muncie Indiana provide specialized financing for doctors, exactly like you.

First off, let’s discuss why physician mortgage loans even exist. The reason is that doctors are very profitable customers 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 terms than their competitions.

Physician Home Mortgage Experts In Muncie Indiana

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

You’ve worked very hard to become a doctor and purchasing home shouldn’t 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 just for doctors?

Yup, doctors get their own loan!

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

We are aware of the personal financial demands of your student loan debt, and how important it is to maintain 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 mortgage loan that is exclusively tailored for your needs.

A large number of doctors in Muncie Indiana may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or little to no work history.

Despite these factors smart loan providers know that doctors are a good bet because they traditionally have an incredibly low default rate on loans, high earning potential and secure jobs.

Not all mortgage lenders offer this specialized product and within banks that do just simply talking to the best mortgage officer makes a remarkable difference.

Benefits of Physician Mortgage Loans

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

Purchasing a house doesn’t need to empty your savings and the process doesn’t have to drain your time.

Should You Put Money Down?

What if you have some funds to put down or are considering delaying until you have the cash?

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

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

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

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

Doctors, get the house of your dreams with our Muncie Indiana physician home mortgage program!

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