Physician Mortgage Parma Ohio

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 you are a first time home buyer or buying a new home in Parma Ohio, our vetted loan officers have a solid understanding of the local area real estate market and what it really takes to close your physician home mortgage with competency and expertise.

Our loan officers in Parma Ohio offer special financing for doctors, like you.

First off, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are very profitable clients 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 loaning them more money with fewer terms than their competitions.

Physician Home Loan Experts In Parma Ohio

If you are searching for a physician loan in Parma Ohio 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 home loan!

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

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

A large number of doctors in Parma Ohio may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or very little to no work history.

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

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

Advantages of Physician Home Loans

  • Usually does not include student loan monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Typically does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve a contract as evidence of future earnings, instead of pay stubs or W-2s, that 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?

What if you have some cash to put down or are thinking about waiting until you have the cash?

Our loan providers can do the math for you and show you what each scenario looks like and the advantages of each too.

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

Additionally, don’t overlook that having equity in your house will likely offer greater security and overall flexibility, especially if something unexpected happens. With the 100% financed physician home mortgage loan, you should expect to begin under water. If something does not work out and you’re 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 are moving down the street, across town or across the country, we are here to assist you throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Parma Ohio physician home loan program!

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

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