Physician Home Loan Stamford 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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Regardless of whether our clients are a first time home buyer or buying a new home in Stamford Connecticut, our vetted loan officers have a strong understanding of the local area real estate industry and what it really takes to close your physician loan with competency and know-how.

Our loan officers in Stamford Connecticut offer exclusive financing for doctors, like you.

To start with, let’s discuss why physician mortgage loans even exist. The reason is that doctors are extremely profitable clients for financial 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 far fewer requirements than their competitions.

Physician Mortgage Experts In Stamford Connecticut

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

You’ve worked very hard to become a doctor and purchasing 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 only for doctors?

Yup, doctors get their own loan!

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

We understand 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 launching your career. Regardless if you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is exclusively tailored for your needs.

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

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

Not all banks offer this specialized product and within banking institutions that do simply talking to the best mortgage loan officer makes a tremendous difference.

Benefits of Physician Home Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Usually does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve a contract as evidence of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

Suppose you have some money 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 scenario looks like and the benefits of each too.

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

Additionally, don’t overlook that having equity in your house will definitely provide greater security and flexibility, especially if something unanticipated happens. With the 100% financed physician home mortgage loan, you should anticipate to start out under water. If something doesn’t work out and you’re forced to sell quickly, you need to be prepared to write a potentially large check for as much as 10% of the purchase price just to get out of the house.

Regardless of whether you’re relocating down the street, across town or across the country, we are here to work with you throughout the physician home loan process:: because you deserve it!

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

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