Physician Loan In Bolingbrook Illinois

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 buying a new home in Bolingbrook Illinois, our vetted loan officers have a solid understanding of the local area real estate market and what it really takes to secure your physician home mortgage with competency and expertise.

Our loan officers in Bolingbrook Illinois offer special financing for doctors, exactly like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The reason is that doctors are really 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 far fewer requirements than their competitors.

Physician Loan Experts In Bolingbrook Illinois

If you are trying to find a physician home loan in Bolingbrook Illinois then you came to the right place.

You’ve worked 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 specifically for doctors?

Yup, doctors get their own loan!

A physician loan is a customized loan program made just for doctors in the home buying process.

We recognize the budgetary demands of your student loan financial debt, and how vital it is to maintain 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 depend on us to find a home loan that is exclusively tailored for your needs.

Many physicians in Bolingbrook Illinois may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation or minimal to no work history.

Despite these reasons smart loan providers know that doctors are a good choice considering that they historically have an extremely low default rate on loans, high earning potential and stable jobs.

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

Advantages of Physician Home Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Generally does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve an agreement as documentation of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

Buying a home doesn’t have 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 looking at waiting until you have the money?

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

In most circumstances, you’ll get your mortgage loan paid off sooner and save thousands of dollars on interest too.

Additionally, don’t overlook that having equity in your house will definitely offer more security and overall flexibility, especially if something unforeseen happens. With the 100% financed physician mortgage loan, you ought to expect to begin under water. If something doesn’t work out and you are forced to sell quickly, you need to be prepared to write a potentially big check for up to 10% of the purchase price just to get out of the house.

No matter if you are relocating down the road, across town or across the country, we are available to assist you throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Bolingbrook Illinois physician home mortgage program!

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