Home Mortgage For Physician Coon Rapids 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 if our clients are a first time home buyer or buying a new home in Coon Rapids Minnesota, our vetted loan officers have a solid understanding of the local area real estate industry and what it takes to secure your physician home loan with efficiency and know-how.

Our loan officers in Coon Rapids Minnesota provide exclusive financing for doctors, exactly like you.

First off, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very profitable customers 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 a fewer number of requirements than their competitors.

Physician Home Mortgage Experts In Coon Rapids Minnesota

If you are searching for a physician mortgage loan in Coon Rapids Minnesota then you came to the right place.

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

Yup, doctors get their own loan!

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

We recognize the budgetary demands of your student loan 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 depend on us to find a home loan that is specifically tailored for your needs.

A lot of doctors in Coon Rapids Minnesota may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation or very little to no work history.

Despite these factors smart lenders know that doctors are a good bet because they generally have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

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

Benefits of Physician Home Mortgage Loans

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

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

Should You Put Cash Down?

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

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

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

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

Whether you are relocating down the street, across town or across the country, we are right here to work with you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Coon Rapids Minnesota physician home loan program!

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