Home Mortgage For Physicians In Grand Rapids Michigan

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 Grand Rapids Michigan, our vetted loan officers have a solid understanding of the local area real estate market and what it really takes to close your physician home loan with proficiency and expertise.

Our loan officers in Grand Rapids Michigan provide exclusive financing for doctors, exactly like you.

First, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very profitable clients 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 fewer terms than their competitors.

Physician Loan Experts In Grand Rapids Michigan

If you are looking for a physician home loan in Grand Rapids Michigan then you came to the right place.

You’ve worked very hard to become a doctor and buying home 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 just for doctors?

Yup, doctors get their own home loan!

A physician loan is a specialized loan program designed just for doctors in the home buying process.

We recognize the budgetary demands of your student loan liability, and how crucial it is to preserve working capital for when the time is right with starting 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 specially tailored for your needs.

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

Despite these reasons smart lending institutions know that doctors are a good bet because they traditionally have an extremely low default rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banking institutions that do simply speaking to the right mortgage loan officer makes a remarkable difference.

Benefits of Physician Home Loans

  • Usually does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Often does not call for private mortgage insurance (PMI), despite the fact that 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.

Purchasing a home doesn’t need to empty 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 waiting until you have the money?

Our loan providers 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 rates too.

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

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

Doctors, get the home of your dreams with our Grand Rapids Michigan physician loan program!

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