Home Mortgage For Physician Hoover Alabama

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 our clients are a first time home buyer or buying a new home in Hoover Alabama, our vetted loan officers have a strong understanding of the local real estate market and what it requires to close your physician home loan with proficiency and expertise.

Our loan officers in al geo offer exclusive financing for doctors, just 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 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 loaning them more money with a fewer number of stipulations than their competitors.

Physician Mortgage Experts In Hoover Alabama

If you are searching for a physician loan in Hoover Alabama then you came to the right 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 specifically for doctors?

Yup, doctors get their own loan!

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

We are aware of the financial demands of your student loan financial obligation, and how vital it is to preserve 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 depend on us to find a mortgage loan that is exclusively tailored for your needs.

A large number of doctors in Hoover Alabama may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or very little to no work history.

Despite these factors smart loan providers know that doctors are a good choice because they typically have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banks that do just simply speaking with the right mortgage officer makes a remarkable difference.

Advantages of Physician Home Mortgage Loans

  • Typically does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Usually does not require private mortgage insurance (PMI), even when 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.

Purchasing a home doesn’t need 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 waiting until you have the money?

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

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

Furthermore, don’t overlook that having equity in your home will offer greater security and flexibility, especially if something unanticipated happens. With the 100% financed physician mortgage loan, you ought to anticipate to begin under water. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially sizable check for as much as 10% of the purchase price simply to get out of the home.

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

Doctors, get the home of your dreams with our Hoover Alabama physician home loan program!

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