Physician Loan In Shoreline 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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Whether our clients are a first time home buyer or purchasing a new home in Shoreline Washington, our vetted loan officers have a solid understanding of the local area real estate market and what it really requires to secure your physician home loan with competency and expertise.

Our loan officers in Shoreline Washington offer special financing for doctors, like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The main 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 terms than their competitions.

Physician Mortgage Experts In Shoreline Washington

If you are looking for a physician mortgage in Shoreline Washington then you came to the right 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 home loan!

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

We recognize the financial 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. 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 specially tailored for your needs.

Many physicians in Shoreline Washington may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or little to no work history.

Despite these reasons smart financial institutions know that doctors are a good bet considering that they typically have an extremely low default rate on loans, high earning potential and secure jobs.

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

Benefits of Physician Mortgage Loans

  • Usually does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Generally does not require private mortgage insurance (PMI), even if 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.

Purchasing a house doesn’t need 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 looking at waiting until you have the cash?

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

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

Additionally, don’t overlook that having equity in your house will likely provide more security and flexibility, particularly if something unforeseen happens. With the 100% financed physician home mortgage loan, you ought to anticipate to begin under water. If something does not 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 just to get out of the home.

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

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

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