Physician Mortgage In Bowie 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 our clients are a first time home buyer or buying a new home in Bowie Maryland, our vetted loan officers have a strong understanding of the local area real estate market and what it really requires to secure your physician home mortgage with efficiency and know-how.

Our loan officers in Bowie Maryland offer specialized financing for doctors, exactly like you.

To start with, let’s discuss 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 lock in early career doctors by lending them more money with far fewer stipulations than their competitions.

Physician Mortgage Experts In Bowie Maryland

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

You’ve worked very hard to become a doctor and buying 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 just for doctors?

Yup, doctors get their own home loan!

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

We are aware of the financial demands of your student loan financial debt, and how essential it is to preserve working capital for when the time is right with starting your career. Regardless 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 exclusively tailored for your needs.

Quite a few physicians in Bowie Maryland 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 lenders know that doctors are a good choice because they generally have an incredibly low nonpayment rate on loans, high earning potential and secure jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do simply speaking to the best mortgage officer makes a tremendous difference.

Advantages of Physician Mortgage Loans

  • Usually does not include student loan monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Usually does not require private mortgage insurance (PMI), despite the fact that 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 cash to put down or are considering waiting until you have the funds?

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 instances, you’ll get your mortgage paid off earlier and save thousands of dollars on interest too.

Additionally, don’t forget that having equity in your house will likely offer greater security and overall flexibility, especially if something unanticipated 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 should be prepared to write a potentially big check for up to 10% of the purchase price simply to get out of the house.

No matter if you’re moving down the street, across town or across the country, we are right here to lend a hand you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Bowie Maryland physician home loan program!

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

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