Home Mortgage For Physicians In Blaine Minnesota

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 of whether you are a first time home buyer or buying a new home in Blaine Minnesota, our vetted loan officers have a strong understanding of the local real estate industry and what it requires to secure your physician mortgage with proficiency and expertise.

Our loan officers in Blaine Minnesota provide specialized financing for doctors, exactly like you.

First off, let’s discuss why physician mortgage loans even exist. The reason is that doctors are extremely 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 stipulations than their competitions.

Physician Loan Experts In Blaine Minnesota

If you are looking for a physician mortgage in Blaine Minnesota then you came to the perfect place.

You’ve trained very hard to become a doctor and purchasing home shouldn’t 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 only for doctors?

Yup, doctors get their own mortgage!

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

We understand the financial demands of your student loan financial obligation, and how crucial 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 rely on us to find a home loan that is specifically tailored for your needs.

Quite a few physicians in Blaine Minnesota may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or little to no work history.

Despite these factors smart lending institutions know that doctors are a good choice considering that they historically have an exceptionally low default rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banking institutions that do simply consulting with the right mortgage officer makes an enormous difference.

Advantages of Physician Home Loans

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

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

Should You Put Money Down?

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

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

Furthermore, don’t forget that having equity in your house will provide more security and overall flexibility, especially if something unanticipated happens. With the 100% financed physician home mortgage loan, you should expect to begin under water. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially sizable check for as much as 10% of the purchase price simply to get out of the house.

Regardless of whether you are relocating down the road, across town or across the country, we are right here to help you through the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Blaine Minnesota physician home mortgage program!

Less than an hour ago, doctors just like you requested a loan from the locations listed below.

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