Physician Loan In Columbus Ohio

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 or not you are a first time home buyer or buying a new home in Columbus Ohio, our vetted loan officers have a solid understanding of the local real estate industry and what it requires to close your physician home mortgage with proficiency and expertise.

Our loan officers in Columbus Ohio offer exclusive financing for doctors, like you.

First off, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are really profitable clients for lenders. 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 Home Loan Experts In Columbus Ohio

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

You’ve worked 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 just for doctors?

Yup, doctors get their own loan!

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

We understand the financial demands of your student loan financial debt, and how crucial it is to preserve working capital for when the time is right with embarking upon your career. Regardless 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 exclusively tailored for your needs.

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

Despite these factors smart loan providers know that doctors are a good bet due to the fact that they traditionally have an extremely low default 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.

Benefits of Physician Home Loans

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

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

Should You Put Cash Down?

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

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

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

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

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

Doctors, get the home of your dreams with our Columbus Ohio physician loan program!

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