Home Mortgage For Physician Tinley Park Illinois

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 you are a first time home buyer or buying a new home in Tinley Park Illinois, our vetted loan officers have a strong understanding of the local real estate market and what it takes to secure your physician mortgage with proficiency and know-how.

Our loan officers in Tinley Park Illinois provide exclusive financing for doctors, exactly like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The main 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 loaning them more money with far fewer requirements than their competitors.

Physician Mortgage Experts In Tinley Park Illinois

If you are looking for a physician mortgage in Tinley Park Illinois then you came to the perfect place.

You’ve trained very hard to become a doctor and buying 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 specifically for doctors?

Yup, doctors get their own mortgage!

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

We are aware of the economic demands of your student loan debt, and how vital it is to maintain working capital for when the time is right with embarking upon 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 exclusively tailored for your needs.

Quite a few physicians in Tinley Park Illinois may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or little to no work history.

Despite these factors smart lending institutions know that doctors are a good choice due to the fact that they historically 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 speaking to the right home loan officer makes a remarkable difference.

Advantages of Physician Mortgage Loans

  • Typically does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Typically does not call for private mortgage insurance (PMI), even if 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 house doesn’t have to drain your savings and the process doesn’t have to drain your time.

Should You Put Cash Down?

What if you have some cash to put down or are considering 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 home loan paid off earlier and save thousands on interest too.

Additionally, don’t overlook that having equity in your home will offer greater security and overall flexibility, especially if something unexpected happens. With the 100% financed physician mortgage loan, you should anticipate 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 home.

No matter if you’re relocating down the road, across town or across the country, we are available to assist you through the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Tinley Park Illinois physician loan program!

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

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