Physician Mortgage In Cedar Falls Iowa

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 Cedar Falls Iowa, our vetted loan officers have a strong understanding of the local area real estate market and what it really takes to secure your physician home mortgage with competency and know-how.

Our loan officers in Cedar Falls Iowa offer exclusive financing for doctors, like you.

First, let’s discuss why physician mortgage loans even exist. The reason is that doctors are really profitable customers 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 far fewer requirements than their competitions.

Physician Mortgage Experts In Cedar Falls Iowa

If you are looking for a physician mortgage loan in Cedar Falls Iowa 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 just for doctors?

Yup, doctors get their own loan!

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

We recognize the economic demands of your student loan debt, and how vital it is to maintain working capital for when the time is right with starting your career. Whether you are a couple years into practice, or a well established doctor, you can depend on us to find a home loan that is specially tailored for your needs.

A lot of doctors in Cedar Falls Iowa may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial debt or little to no work history.

Despite these reasons smart financial institutions know that doctors are a good choice due to the fact that they historically have an incredibly low nonpayment rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banks that do just simply talking to the best mortgage officer makes an enormous difference.

Advantages of Physician Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Often does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve an agreement as documentation of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

Buying a home 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 thinking about delaying until you have the funds?

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

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

Furthermore, don’t forget that having equity in your house will likely offer more security and overall flexibility, specifically if something unplanned happens. With the 100% financed physician mortgage loan, you ought to 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.

No matter if you are moving down the road, across town or across the country, we are available to work with you through the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Cedar Falls Iowa 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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