Physician Home Loan Program Lancaster Pennsylvania

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 Lancaster Pennsylvania, our vetted loan officers have a strong understanding of the local area real estate market and what it requires to secure your physician home mortgage with proficiency and know-how.

Our loan officers in Lancaster Pennsylvania provide specialized financing for doctors, exactly like you.

First, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are really 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 fewer requirements than their competitions.

Physician Loan Experts In Lancaster Pennsylvania

If you are looking for a physician mortgage loan in Lancaster Pennsylvania then you came to the perfect 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 home loan!

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

We recognize the financial demands of your student loan financial debt, and how essential 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 home loan that is specifically tailored for your needs.

A lot of doctors in Lancaster Pennsylvania may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or very little to no work history.

Despite these reasons smart lending institutions know that doctors are a good choice due to the fact that they generally have an incredibly low default rate on loans, high earning potential and stable jobs.

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

Advantages of Physician Home Loans

  • Usually does not include student loan monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Often does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will accept an agreement as documentation of future earnings, in lieu 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 cash to put down or are thinking about waiting until you have the cash?

Our mortgage lenders can do the math for you and show you what each circumstance looks like and the advantages of each too.

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

Furthermore, don’t forget that having equity in your home will likely offer more security and overall flexibility, specifically if something unanticipated 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 are forced to sell quickly, you need to be prepared to write a potentially sizable check for up to 10% of the purchase price just to get out of the house.

No matter if you’re moving 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 Lancaster Pennsylvania 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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