Physician Home Loan Reading Pennsylvania

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 purchasing a new home in Reading Pennsylvania, our vetted loan officers have a strong understanding of the local real estate industry and what it really takes to close your physician home loan with proficiency and expertise.

Our loan officers in Reading Pennsylvania provide special financing for doctors, like you.

To start with, let’s discuss why physician mortgage loans even exist. The reason is that doctors are really 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 secure early career doctors by lending them more money with a lot fewer stipulations than their competitions.

Physician Loan Experts In Reading Pennsylvania

If you are trying to find a physician mortgage in Reading Pennsylvania 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 only for doctors?

Yup, doctors get their own loan!

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

We understand the personal financial demands of your student loan liability, and how important it is to maintain working capital for when the time is right with embarking upon your career. Whether or not you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is specifically tailored for your needs.

Quite a few doctors in Reading Pennsylvania 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 financial institutions know that doctors are a good choice due to the fact that they generally have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

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

Advantages of Physician Home Mortgage Loans

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

Buying a house 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 looking at waiting 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 mortgage loan paid off earlier and save thousands on interest too.

Additionally, don’t overlook that having equity in your home will definitely provide more security and overall flexibility, particularly if something unexpected happens. With the 100% financed physician mortgage loan, you should anticipate to start out 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 up to 10% of the purchase price simply to get out of the home.

Regardless of whether you are moving 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 house of your dreams with our Reading Pennsylvania physician home mortgage program!

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

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