Home Mortgage For Physician Wyoming 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 our clients are a first time home buyer or buying a new home in Wyoming Michigan, our vetted loan officers have a strong understanding of the local real estate market and what it really takes to close your physician home mortgage with efficiency and know-how.

Our loan officers in Wyoming Michigan offer specialized 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 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 loaning them more money with far fewer stipulations than their competitors.

Physician Home Mortgage Experts In Wyoming Michigan

If you are searching for a physician loan in Wyoming Michigan then you came to the right place.

You’ve trained very hard to become a doctor and buying home 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 specifically for doctors?

Yup, doctors get their own mortgage!

A physician loan is a customized loan program designed just for doctors in the home purchasing process.

We understand the financial demands of your student loan financial debt, and how essential it is to preserve working capital for when the time is right with starting your career. Whether you are a couple years into practice, or a well established doctor, you can count on us to find a home loan that is specifically tailored for your needs.

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

Despite these factors smart lenders know that doctors are a good bet considering that they traditionally have an incredibly low default rate on loans, high earning potential and secure jobs.

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

Advantages of Physician Mortgage 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 require private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will accept an agreement as documentation of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

What if you have some money 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 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 rates too.

Furthermore, don’t overlook that having equity in your home will likely offer more security and overall flexibility, particularly if something unanticipated happens. With the 100% financed physician mortgage loan, you ought to expect to start out underwater. If something does not work out and you’re forced to sell quickly, you need to be prepared to write a potentially sizable check for up to 10% of the purchase price simply to get out of the house.

Whether you are moving down the street, across town or across the country, we are available to help you throughout the physician home loan process:: because you deserve it!

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

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

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