Home Mortgage For Physicians In Norwalk Connecticut

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 or not our clients are a first time home buyer or purchasing a new home in Norwalk Connecticut, our vetted loan officers have a solid understanding of the local area real estate industry and what it really requires to secure your physician loan with competency and know-how.

Our loan officers in Norwalk Connecticut provide special financing for doctors, like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are really 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 secure early career doctors by lending them more money with far fewer stipulations than their competitions.

Physician Loan Experts In Norwalk Connecticut

If you are searching for a physician mortgage loan in Norwalk Connecticut then you came to the perfect place.

You’ve trained very hard to become a doctor and purchasing home really should not 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 home loan!

A physician loan is a special loan program put together just for doctors in the home purchasing process.

We are aware of the personal financial demands of your student loan financial debt, and how crucial it is to preserve working capital for when the time is right with starting your career. Whether or not you are a couple years into practice, or a well established doctor, you can depend on us to find a home loan that is exclusively tailored for your needs.

Quite a few doctors in Norwalk Connecticut may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or minimal to no work history.

Despite these factors smart financial institutions know that doctors are a good choice because they traditionally have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do simply speaking with the best mortgage loan officer makes a significant difference.

Benefits of Physician Home Mortgage Loans

  • Usually does not include student loan monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Typically does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept an agreement as proof of future earnings, instead of pay stubs or W-2s, which 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 Money Down?

Suppose you have some funds to put down or are considering waiting until you have the funds?

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

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

Additionally, don’t forget that having equity in your house will provide greater security and flexibility, especially if something unexpected happens. With the 100% financed physician home mortgage loan, you should anticipate to begin underwater. If something doesn’t 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.

No matter if you’re relocating down the road, across town or across the country, we are available to work with you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Norwalk Connecticut physician home mortgage program!

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