Physician Mortgage In Enid Oklahoma

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 purchasing a new home in Enid Oklahoma, our vetted loan officers have a solid understanding of the local area real estate market and what it takes to close your physician home mortgage with efficiency and know-how.

Our loan officers in Enid Oklahoma provide special financing for doctors, like you.

First off, let’s discuss why physician mortgage loans even exist. The reason is that doctors are really profitable clients for lenders. 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 fewer stipulations than their competitions.

Physician Mortgage Experts In Enid Oklahoma

If you are looking for a physician home loan in Enid Oklahoma 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 specifically for doctors?

Yup, doctors get their own mortgage!

A physician home loan is a customized loan program designed just for doctors in the home purchasing process.

We recognize the financial demands of your student loan liability, and how important it is to preserve working capital for when the time is right with launching your career. Whether you are a couple years into practice, or a well established doctor, you can depend on us to find a mortgage loan that is specially tailored for your needs.

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

Despite these reasons smart loan providers know that doctors are a good choice because they historically have an incredibly low default rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banking institutions that do just simply consulting with the best mortgage loan officer makes a tremendous difference.

Benefits of Physician Home Mortgage Loans

  • Usually does not include student loan monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Usually does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will accept a contract as evidence 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 need to drain your time.

Should You Put Cash Down?

Suppose you have some cash to put down or are thinking about waiting until you have the cash?

Our lenders can do the math for you and show you what each situation 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.

Additionally, don’t overlook that having equity in your home will likely offer more security and overall flexibility, especially if something unanticipated happens. With the 100% financed physician home mortgage loan, you should expect to begin under water. If something does not 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 just to get out of the house.

No matter if you are relocating down the street, across town or across the country, we are right here to assist you all throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Enid Oklahoma physician home loan program!

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