Physician Loan In Burlington North Carolina

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 purchasing a new home in Burlington North Carolina, our vetted loan officers have a strong understanding of the local area real estate industry and what it requires to close your physician home mortgage with proficiency and expertise.

Our loan officers in Burlington North Carolina provide exclusive financing for doctors, just like you.

To start with, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are extremely 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 secure early career doctors by lending them more money with fewer stipulations than their competitors.

Physician Loan Experts In Burlington North Carolina

If you are searching for a physician mortgage in Burlington North Carolina then you came to the right place.

You’ve trained 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 specifically for doctors?

Yup, doctors get their own mortgage!

A physician loan is a specialty loan program created just for doctors in the home buying process.

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

A lot of doctors in Burlington North Carolina may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or minimal to no work history.

Despite these factors smart loan providers know that doctors are a good bet because they historically 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 simply speaking with the right mortgage officer makes a tremendous difference.

Advantages of Physician Mortgage Loans

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

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

Should You Put Money Down?

What if you have some money to put down or are thinking about delaying until you have the cash?

Our loan providers 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 home mortgage paid off earlier and save thousands of dollars on interest too.

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

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

Doctors, get the house of your dreams with our Burlington North Carolina physician loan program!

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