Physician Mortgage In Lakeville Minnesota

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 Lakeville Minnesota, our vetted loan officers have a solid understanding of the local area real estate market and what it really takes to close your physician loan with efficiency and know-how.

Our loan officers in Lakeville Minnesota offer exclusive financing for doctors, just like you.

First, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are extremely profitable customers 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 fewer terms than their competitors.

Physician Home Mortgage Experts In Lakeville Minnesota

If you are looking for a physician mortgage in Lakeville Minnesota then you came to the right place.

You’ve worked 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 specifically for doctors?

Yup, doctors get their own mortgage!

A physician home mortgage is a specialty loan program designed just for doctors in the home purchasing process.

We are aware of the financial demands of your student loan financial obligation, 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 specifically tailored for your needs.

A large number of physicians in Lakeville Minnesota 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 reasons smart lenders know that doctors are a good bet because they generally have an incredibly low default rate on loans, high earning potential and secure jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do just simply consulting with the right home loan officer makes a tremendous difference.

Benefits of Physician Home Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Often does not necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will approve a contract as proof of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

Buying a house doesn’t need to empty your savings and the process doesn’t have to drain your time.

Should You Put Money Down?

What if you have some funds to put down or are looking at waiting until you have the cash?

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

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

Furthermore, don’t forget that having equity in your house will definitely provide greater security and flexibility, specifically if something unplanned happens. With the 100% financed physician home mortgage loan, you should anticipate 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 up to 10% of the purchase price simply to get out of the house.

No matter if you are moving down the street, across town or across the country, we are available to work with you all throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Lakeville Minnesota physician loan program!

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

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