Home Mortgage For Physician Kennewick Washington

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 or not our clients are a first time home buyer or buying a new home in Kennewick Washington, our vetted loan officers have a solid understanding of the local area real estate market and what it really takes to secure your physician mortgage with proficiency and know-how.

Our loan officers in Kennewick Washington provide specialized financing for doctors, like you.

First off, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very profitable customers for lending institutions. 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 lot fewer terms than their competitors.

Physician Loan Experts In Kennewick Washington

If you are searching for a physician mortgage loan in Kennewick Washington 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 just for doctors?

Yup, doctors get their own home loan!

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

We understand the financial demands of your student loan financial debt, and how crucial it is to preserve 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 count on us to find a mortgage loan that is specially tailored for your needs.

Quite a few physicians in Kennewick Washington may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial debt or minimal to no work history.

Despite these factors smart loan providers know that doctors are a good choice due to the fact that they generally have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banks that do simply speaking to the right mortgage officer makes a tremendous difference.

Advantages of Physician Home Loans

  • Generally does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Typically does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve a contract as evidence of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

Purchasing a house doesn’t need to drain your savings and the process doesn’t need to drain your time.

Should You Put Cash Down?

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

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

In most cases, you’ll get your home mortgage paid off earlier and save thousands on interest too.

Furthermore, don’t overlook that having equity in your house will provide more security and overall flexibility, specifically if something unanticipated happens. With the 100% financed physician mortgage loan, you should expect to begin underwater. 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 right here to help you throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Kennewick Washington physician loan program!

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