Physician Home Loan Knoxville Tennessee

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 you are a first time home buyer or buying a new home in Knoxville Tennessee, our vetted loan officers have a solid understanding of the local real estate industry and what it really requires to secure your physician home mortgage with efficiency and know-how.

Our loan officers in Knoxville Tennessee provide exclusive financing for doctors, exactly like you.

First, let’s talk about why physician mortgage loans even exist. The 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 lock in early career doctors by lending them more money with far fewer terms than their competitors.

Physician Home Mortgage Experts In Knoxville Tennessee

If you are searching for a physician mortgage in Knoxville Tennessee then you came to the perfect place.

You’ve worked very hard to become a doctor and buying home really should not 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 home loan!

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

We understand the economic demands of your student loan liability, 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 home loan that is specially tailored for your needs.

A lot of doctors in Knoxville Tennessee 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 reasons smart financial institutions know that doctors are a good bet considering that they historically have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do simply talking to the best mortgage loan officer makes a significant difference.

Benefits of Physician Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Generally does not require private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will accept a contract 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 empty your savings and the process doesn’t need to drain your time.

Should You Put Money Down?

Suppose you have some funds 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 situation looks like and the benefits of each too.

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

Furthermore, don’t forget that having equity in your home will definitely provide greater security and flexibility, particularly if something unforeseen happens. With the 100% financed physician home mortgage loan, you should expect to start out 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 just to get out of the home.

Regardless of whether you’re relocating down the road, across town or across the country, we are here to help you all throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Knoxville Tennessee physician home loan program!

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

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