Home Mortgage For Physicians In Blacksburg Virginia

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 Blacksburg Virginia, our vetted loan officers have a strong understanding of the local real estate industry and what it requires to secure your physician home mortgage with competency and know-how.

Our loan officers in Blacksburg Virginia offer special financing for doctors, just like you.

First, let’s talk about why physician mortgage loans even exist. The reason is that doctors are extremely profitable clients for financial 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 competitions.

Physician Home Loan Experts In Blacksburg Virginia

If you are looking for a physician mortgage loan in Blacksburg Virginia then you came to the right 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 specifically for doctors?

Yup, doctors get their own home loan!

A physician loan is a specialized loan program created just for doctors in the home purchasing process.

We recognize the personal financial demands of your student loan financial debt, and how important it is to preserve working capital for when the time is right with embarking upon 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.

Many doctors in Blacksburg Virginia may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or minimal to no work history.

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

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

Advantages of Physician Home Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Generally does not require private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept a contract as documentation of future earnings, in lieu of pay stubs or W-2s, that 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?

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

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

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

Additionally, don’t forget that having equity in your house will most likely offer greater security and flexibility, especially if something unforeseen happens. With the 100% financed physician mortgage loan, you should anticipate to begin 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 just to get out of the home.

Regardless of whether you are moving down the street, across town or across the country, we are right here to help you all throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Blacksburg Virginia physician home mortgage program!

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