Physician Loan In Eden Prairie 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 of whether you are a first time home buyer or buying a new home in Eden Prairie Minnesota, our vetted loan officers have a solid understanding of the local area real estate industry and what it really requires to close your physician home mortgage with efficiency and know-how.

Our loan officers in Eden Prairie Minnesota provide specialized financing for doctors, exactly like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are extremely 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 lock in early career doctors by lending them more money with a lot fewer stipulations than their competitions.

Physician Home Mortgage Experts In Eden Prairie Minnesota

If you are searching for a physician home loan in Eden Prairie Minnesota then you came to the right place.

You’ve trained very hard to become a doctor and purchasing home really 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 home loan!

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

We recognize the economic demands of your student loan debt, and how vital it is to preserve working capital for when the time is right with launching your career. No matter if you are a couple years into practice, or a well established doctor, you can count on us to find a home loan that is exclusively tailored for your needs.

Many doctors in Eden Prairie Minnesota 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 factors smart lending institutions know that doctors are a good choice considering that they generally have an exceptionally low default rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banking institutions that do simply talking with the best mortgage officer makes a tremendous difference.

Advantages of Physician Home Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Typically does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept an agreement as documentation of future earnings, in lieu 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 need to drain your time.

Should You Put Money Down?

Suppose you have some funds to put down or are considering delaying until you have the money?

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

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

Furthermore, don’t forget that having equity in your house will likely offer greater security and overall flexibility, specifically if something unplanned happens. With the 100% financed physician home mortgage loan, you should anticipate to begin underwater. If something does not 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.

Whether you are relocating down the road, across town or across the country, we are available to work with you through the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Eden Prairie Minnesota physician loan program!

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

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