Physician Loan In Lakewood Washington

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 buying a new home in Lakewood Washington, our vetted loan officers have a solid understanding of the local area real estate market and what it really requires to close your physician loan with competency and expertise.

Our loan officers in Lakewood Washington provide specialized financing for doctors, just like you.

First, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are extremely 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 lending them more money with a fewer number of terms than their competitions.

Physician Home Loan Experts In Lakewood Washington

If you are trying to find a physician mortgage in Lakewood Washington then you came to the perfect place.

You’ve worked very hard to become a doctor and purchasing home really should not 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 home loan is a specialty loan program put together just for doctors in the home purchasing process.

We are aware of the financial demands of your student loan debt, and how essential it is to preserve working capital for when the time is right with launching your career. Whether 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.

Many physicians in Lakewood Washington may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation or very 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 default rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do just simply consulting with the right mortgage officer makes a tremendous difference.

Advantages of Physician Mortgage Loans

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

Buying a house doesn’t have to drain your savings and the process doesn’t have to drain your time.

Should You Put Money Down?

What if you have some funds to put down or are thinking about delaying until you have the money?

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

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

Furthermore, don’t forget that having equity in your house will most likely provide greater security and overall flexibility, particularly if something unanticipated happens. With the 100% financed physician home mortgage loan, you should expect to begin 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.

Whether you’re moving down the road, across town or across the country, we are right here to work with you all throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Lakewood Washington physician home loan program!

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

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