Physician Home Loan Renton 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 you are a first time home buyer or purchasing a new home in Renton Washington, our vetted loan officers have a strong understanding of the local real estate industry and what it requires to secure your physician mortgage with efficiency and expertise.

Our loan officers in Renton Washington provide specialized 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 secure early career doctors by lending them more money with a lot fewer terms than their competitors.

Physician Mortgage Experts In Renton Washington

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

You’ve trained very hard to become a doctor and buying 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 mortgage!

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

We recognize the budgetary demands of your student loan liability, and how crucial it is to maintain 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 count on us to find a mortgage loan that is exclusively tailored for your needs.

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

Despite these factors smart lending institutions know that doctors are a good bet due to the fact that they historically have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banks that do simply talking with the right mortgage loan officer makes a tremendous difference.

Benefits of Physician Mortgage Loans

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

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

Should You Put Cash Down?

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

Our lenders can do the math for you and show you what each circumstance looks like and the benefits of each too.

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

Additionally, don’t forget that having equity in your house will most likely offer greater security and flexibility, specifically if something unforeseen happens. With the 100% financed physician home mortgage loan, you should expect to begin under water. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially sizable check for up to 10% of the purchase price just to get out of the home.

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

Doctors, get the home of your dreams with our Renton Washington physician home mortgage program!

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