Physician Loan In Anderson Indiana

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 you are a first time home buyer or purchasing a new home in Anderson Indiana, 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 competency and know-how.

Our loan officers in Anderson Indiana provide specialized financing for doctors, exactly like you.

First, let’s discuss why physician mortgage loans even exist. The reason is that doctors are very 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 lock in early career doctors by loaning them more money with fewer terms than their competitions.

Physician Loan Experts In Anderson Indiana

If you are trying to find a physician home loan in Anderson Indiana then you came to the perfect 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 loan!

A physician mortgage is a special loan program put together just for doctors in the home buying process.

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

A large number of doctors in Anderson Indiana may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or very little to no work history.

Despite these factors smart lending institutions know that doctors are a good choice considering that they typically have an exceptionally 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 Home Mortgage Loans

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

Buying a house doesn’t have to empty 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 waiting until you have the funds?

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

Additionally, don’t forget that having equity in your home will definitely provide greater security and flexibility, specifically if something unexpected happens. With the 100% financed physician home mortgage loan, you ought to anticipate to start out under water. If something doesn’t work out and you are forced to sell quickly, you should be prepared to write a potentially big check for as much as 10% of the purchase price just to get out of the home.

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

Doctors, get the home of your dreams with our Anderson Indiana physician loan program!

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