Home Mortgage For Physician El Paso Texas

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 our clients are a first time home buyer or buying a new home in El Paso Texas, our vetted loan officers have a strong understanding of the local real estate industry and what it takes to close your physician loan with proficiency and expertise.

Our loan officers in El Paso Texas provide special financing for doctors, exactly like you.

To start with, let’s talk about why physician mortgage loans even exist. The reason is that doctors are very 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 lock in early career doctors by lending them more money with a fewer number of requirements than their competitors.

Physician Mortgage Experts In El Paso Texas

If you are looking for a physician loan in El Paso Texas then you came to the perfect place.

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

Yup, doctors get their own loan!

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

We recognize the economic demands of your student loan financial obligation, and how important it is to maintain working capital for when the time is right with launching 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 specifically tailored for your needs.

Quite a few doctors in El Paso Texas may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or very little to no work history.

Despite these reasons smart financial institutions know that doctors are a good bet due to the fact that they typically have an incredibly low default rate on loans, high earning potential and stable jobs.

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

Benefits of Physician Home Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Usually does not call for private mortgage insurance (PMI), despite the fact that 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.

Buying a house doesn’t have to empty your savings and the process doesn’t need 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 funds?

Our lenders can do the math for you and show you what each scenario looks like and the benefits of each too.

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

Furthermore, don’t overlook that having equity in your home will provide more security and overall flexibility, particularly if something unexpected happens. With the 100% financed physician home mortgage loan, you should expect to start out underwater. If something does not work out and you’re forced to sell quickly, you need to be prepared to write a potentially large check for up to 10% of the purchase price just to get out of the house.

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

Doctors, get the house of your dreams with our El Paso Texas physician loan program!

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

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