Home Mortgage For Physicians In Bristol Connecticut

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 you are a first time home buyer or purchasing a new home in Bristol Connecticut, our vetted loan officers have a strong understanding of the local real estate market and what it really requires to close your physician mortgage with competency and expertise.

Our loan officers in Bristol Connecticut provide exclusive financing for doctors, 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 financial 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 a fewer number of terms than their competitions.

Physician Mortgage Experts In Bristol Connecticut

If you are searching for a physician mortgage loan in Bristol Connecticut then you came to the perfect place.

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

Yup, doctors get their own mortgage!

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

We recognize the personal financial demands of your student loan financial debt, and how crucial it is to maintain working capital for when the time is right with launching 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 mortgage loan that is exclusively tailored for your needs.

Quite a few doctors in Bristol Connecticut may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or little to no work history.

Despite these reasons smart financial institutions know that doctors are a good bet due to the fact that they historically have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

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

Advantages of Physician Mortgage Loans

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

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

Should You Put Cash Down?

What if you have some funds to put down or are considering waiting until you have the cash?

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

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

Additionally, don’t overlook that having equity in your house will most likely offer greater security and overall flexibility, specifically if something unforeseen happens. With the 100% financed physician home mortgage loan, you ought to anticipate 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.

Regardless of whether you’re moving down the street, across town or across the country, we are here to lend a hand you through the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Bristol Connecticut physician loan program!

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