Physician Mortgage Lafayette 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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Whether or not our clients are a first time home buyer or buying a new home in Lafayette Indiana, our vetted loan officers have a strong understanding of the local area real estate industry and what it takes to secure your physician home mortgage with efficiency and expertise.

Our loan officers in Lafayette Indiana provide exclusive financing for doctors, like you.

To start with, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very profitable clients 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 loaning them more money with a fewer number of requirements than their competitors.

Physician Home Loan Experts In Lafayette Indiana

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

You’ve trained very hard to become a doctor and buying home shouldn’t 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 customized loan program created just for doctors in the home purchasing process.

We are aware of the economic demands of your student loan financial debt, and how vital it is to maintain working capital for when the time is right with starting your career. Regardless if you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is exclusively tailored for your needs.

Many physicians in Lafayette Indiana may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan 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 historically have an exceptionally low default rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banks that do just simply talking with the best mortgage officer makes a significant difference.

Advantages of Physician Mortgage Loans

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

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

Should You Put Money Down?

Suppose you have some funds to put down or are thinking about waiting 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 instances, you’ll get your home mortgage paid off sooner and save thousands on interest too.

Additionally, don’t forget that having equity in your house will definitely provide more security and flexibility, particularly if something unforeseen happens. With the 100% financed physician mortgage loan, you should anticipate to start out underwater. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially large check for as much as 10% of the purchase price simply to get out of the home.

Whether you’re moving down the road, across town or across the country, we are here to assist you through the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Lafayette Indiana 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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