Home Mortgage For Physicians In Baltimore Maryland

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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Regardless if you are a first time home buyer or purchasing a new home in Baltimore Maryland, our vetted loan officers have a solid understanding of the local real estate industry and what it really requires to secure your physician home mortgage with efficiency and expertise.

Our loan officers in Baltimore Maryland offer specialized 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 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 secure early career doctors by loaning them more money with a lot fewer stipulations than their competitors.

Physician Home Loan Experts In Baltimore Maryland

If you are looking for a physician loan in Baltimore Maryland then you came to the right place.

You’ve trained 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 just for doctors?

Yup, doctors get their own mortgage!

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

We understand the budgetary demands of your student loan liability, and how important it is to preserve working capital for when the time is right with embarking upon 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 home loan that is specially tailored for your needs.

Many physicians in Baltimore Maryland may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or little to no work history.

Despite these reasons smart financial institutions know that doctors are a good bet due to the fact that they generally have an incredibly low default rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banks that do just simply speaking with the right home loan officer makes a remarkable difference.

Advantages of Physician Home Mortgage Loans

  • Typically does not include student loan 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 documentation of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

Suppose you have some funds to put down or are considering waiting until you have the cash?

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

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

Additionally, don’t overlook that having equity in your house will offer more security and flexibility, particularly if something unanticipated happens. With the 100% financed physician home mortgage loan, you should anticipate to start out underwater. 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 simply to get out of the home.

No matter if you’re relocating down the road, across town or across the country, we are here to lend a hand you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Baltimore Maryland physician loan program!

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