Physician Home Loan Program In Des Plaines Illinois

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 Des Plaines Illinois, our vetted loan officers have a strong understanding of the local real estate industry and what it takes to secure your physician loan with efficiency and know-how.

Our loan officers in Des Plaines Illinois provide special financing for doctors, just like you.

First, let’s discuss why physician mortgage loans even exist. The 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 secure early career doctors by lending them more money with a lot fewer stipulations than their competitions.

Physician Loan Experts In Des Plaines Illinois

If you are trying to find a physician loan in Des Plaines Illinois then you came to the perfect place.

You’ve trained very hard to become a doctor and buying 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 only for doctors?

Yup, doctors get their own home loan!

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

We are aware of the budgetary demands of your student loan financial obligation, and how essential it is to maintain working capital for when the time is right with embarking upon your career. Whether you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is specifically tailored for your needs.

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

Despite these reasons smart loan providers know that doctors are a good choice because 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 just simply talking with the best home loan officer makes an enormous difference.

Advantages of Physician Home Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Typically does not necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will approve a contract as documentation of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

Buying a house doesn’t have to drain 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 thinking about delaying until you have the cash?

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

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

Additionally, don’t forget that having equity in your home will likely provide greater security and overall flexibility, specifically if something unforeseen happens. With the 100% financed physician home mortgage loan, you should expect to start out underwater. If something doesn’t work out and you are 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 are moving down the road, across town or across the country, we are here to work with you throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Des Plaines Illinois 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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