Physician Home Loan Program In Tacoma 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 or not you are a first time home buyer or buying a new home in Tacoma Washington, our vetted loan officers have a solid understanding of the local area real estate market and what it really takes to secure your physician home loan with proficiency and expertise.

Our loan officers in Tacoma Washington provide exclusive financing for doctors, just like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are extremely profitable clients for lending 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 far fewer stipulations than their competitions.

Physician Loan Experts In Tacoma Washington

If you are searching for a physician home loan in Tacoma Washington then you came to the right place.

You’ve worked very hard to become a doctor and purchasing home really should not be nearly as difficult.

Did you know there is a special loan that makes it easy for doctors to buy a home?

A home loan specifically for doctors?

Yup, doctors get their own loan!

A physician loan is a customized loan program developed just for doctors in the home buying process.

We understand the economic demands of your student loan liability, and how vital it is to preserve working capital for when the time is right with launching your career. Whether or not 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.

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

Despite these reasons smart loan providers know that doctors are a good bet considering that they traditionally have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banks that do just simply speaking to the best mortgage officer makes a significant difference.

Benefits of Physician Home Loans

  • Usually does not include student loan regular monthly payments in debt-to-income percentage.
  • 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 accept a contract as documentation of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

Suppose you have some cash to put down or are looking at delaying until you have the money?

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

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

Furthermore, don’t overlook that having equity in your home will definitely offer greater security and overall flexibility, particularly if something unplanned happens. With the 100% financed physician mortgage loan, you should expect to start out under water. If something doesn’t 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 house.

No matter if you are relocating down the street, across town or across the country, we are right here to lend a hand you all throughout the physician home mortgage process:: because you deserve it!

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

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