Physician Loan In Bartlett Tennessee

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 Bartlett Tennessee, our vetted loan officers have a solid understanding of the local real estate market and what it requires to secure your physician mortgage with competency and expertise.

Our loan officers in Bartlett Tennessee 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 extremely profitable customers 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 lending them more money with far fewer requirements than their competitors.

Physician Home Mortgage Experts In Bartlett Tennessee

If you are searching for a physician mortgage in Bartlett Tennessee then you came to the perfect place.

You’ve trained very hard to become a doctor and purchasing 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 only for doctors?

Yup, doctors get their own mortgage!

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

We understand the financial demands of your student loan financial debt, and how essential it is to maintain working capital for when the time is right with starting your career. No matter if 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 doctors in Bartlett Tennessee 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 reasons smart lenders know that doctors are a good choice because they traditionally have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

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

Advantages of Physician Home Loans

  • Generally does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Often does not require private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will approve an agreement as proof of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

Purchasing a home doesn’t have to empty your savings and the process doesn’t have to drain your time.

Should You Put Money Down?

Suppose you have some money to put down or are considering delaying until you have the funds?

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

In most instances, you’ll get your mortgage loan paid off earlier and save thousands on interest rates too.

Furthermore, don’t forget that having equity in your home will most likely provide greater security and flexibility, particularly if something unexpected happens. With the 100% financed physician mortgage loan, you ought to expect 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 big check for up to 10% of the purchase price just to get out of the house.

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

Doctors, get the home of your dreams with our Bartlett Tennessee physician home mortgage program!

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