Home Mortgage For Physician Elyria 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 purchasing a new home in Elyria Ohio, our vetted loan officers have a solid understanding of the local area real estate market and what it really takes to secure your physician loan with competency and know-how.

Our loan officers in Elyria Ohio provide exclusive 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 clients for lenders. 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 a lot fewer terms than their competitors.

Physician Home Loan Experts In Elyria Ohio

If you are trying to find a physician loan in Elyria Ohio then you came to the perfect 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 specifically for doctors?

Yup, doctors get their own home loan!

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

We recognize the economic demands of your student loan financial debt, and how important it is to preserve 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 home loan that is exclusively tailored for your needs.

Many doctors in Elyria Ohio 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 lending institutions know that doctors are a good choice considering that they generally have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do just simply talking to the right mortgage officer makes a tremendous difference.

Benefits of Physician Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Typically does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will accept a contract as documentation of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

Suppose you have some funds to put down or are looking at waiting until you have the cash?

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

In most cases, you’ll get your mortgage paid off earlier and save thousands on interest too.

Furthermore, don’t overlook that having equity in your house will most likely provide more security and flexibility, specifically if something unplanned happens. With the 100% financed physician home mortgage loan, you ought to expect to begin underwater. If something doesn’t 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.

Whether you’re moving down the road, across town or across the country, we are here to help you all throughout the physician home mortgage process:: because you deserve it!

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

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

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