Physician Loan In Gary Indiana

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 if our clients are a first time home buyer or buying a new home in Gary Indiana, our vetted loan officers have a solid understanding of the local real estate industry and what it requires to secure your physician loan with proficiency and know-how.

Our loan officers in Gary Indiana provide special financing for doctors, just like you.

First off, let’s discuss why physician mortgage loans even exist. The reason is that doctors are very 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 lock in early career doctors by loaning them more money with a lot fewer stipulations than their competitors.

Physician Mortgage Experts In Gary Indiana

If you are looking for a physician mortgage loan in Gary Indiana then you came to the right place.

You’ve worked very hard to become a doctor and purchasing 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 specialized loan program put together just for doctors in the home purchasing process.

We are aware of the financial demands of your student loan debt, and how vital it is to maintain working capital for when the time is right with starting 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 specially tailored for your needs.

A large number of physicians in Gary Indiana may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or little to no work history.

Despite these factors smart lending institutions know that doctors are a good bet considering that they traditionally have an incredibly 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 consulting with the right mortgage officer makes a tremendous difference.

Advantages of Physician Home Loans

  • Typically does not include student loan monthly payments in debt-to-income percentage.
  • Requires small 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 approve an agreement as proof 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?

What if you have some money to put down or are considering waiting until you have the funds?

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

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

Additionally, don’t overlook that having equity in your home will likely provide more security and overall flexibility, especially if something unforeseen happens. With the 100% financed physician home mortgage loan, you ought to anticipate to begin under water. If something doesn’t work out and you’re forced to sell quickly, you need to be prepared to write a potentially big check for as much as 10% of the purchase price simply 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 Gary Indiana physician loan program!

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