Home Mortgage For Physician Dearborn Heights Michigan

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 our clients are a first time home buyer or purchasing a new home in Dearborn Heights Michigan, our vetted loan officers have a solid understanding of the local area real estate market and what it requires to secure your physician mortgage with proficiency and know-how.

Our loan officers in Dearborn Heights Michigan offer exclusive financing for doctors, like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are really 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 secure early career doctors by loaning them more money with a fewer number of terms than their competitors.

Physician Home Loan Experts In Dearborn Heights Michigan

If you are searching for a physician home loan in Dearborn Heights Michigan then you came to the right 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 loan!

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

We understand the budgetary demands of your student loan debt, and how important 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 mortgage loan that is exclusively tailored for your needs.

A lot of doctors in Dearborn Heights Michigan 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 considering that they generally have an incredibly low default rate on loans, high earning potential and stable jobs.

Not all financial institutions offer this specialized product and within banks that do simply talking with the best home loan officer makes an enormous difference.

Benefits of Physician Home Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Typically does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept an agreement as proof of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

Purchasing a house 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 considering waiting until you have the cash?

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

Furthermore, don’t forget that having equity in your house will most likely provide more security and overall flexibility, especially if something unforeseen happens. With the 100% financed physician home 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 sizable check for up to 10% of the purchase price simply to get out of the house.

Whether you’re moving down the road, across town or across the country, we are here to work with you throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Dearborn Heights Michigan physician home mortgage program!

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

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