Physician Home Loan Program Leesburg Virginia

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 you are a first time home buyer or purchasing a new home in Leesburg Virginia, our vetted loan officers have a solid understanding of the local area real estate industry and what it really requires to close your physician mortgage with competency and expertise.

Our loan officers in Leesburg Virginia provide specialized financing for doctors, just like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The reason is that doctors are really 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 loaning them more money with far fewer requirements than their competitions.

Physician Home Mortgage Experts In Leesburg Virginia

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

You’ve worked very hard to become a doctor and buying home 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 specifically for doctors?

Yup, doctors get their own mortgage!

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

We are aware of the personal financial demands of your student loan financial obligation, and how important it is to maintain working capital for when the time is right with embarking upon your career. No matter if you are a couple years into practice, or a well established doctor, you can depend on us to find a mortgage loan that is specially tailored for your needs.

Many physicians in Leesburg Virginia may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or little to no work history.

Despite these reasons smart loan providers know that doctors are a good choice considering that they traditionally have an extremely low default rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banks that do simply talking with the right home loan officer makes a remarkable difference.

Advantages of Physician Mortgage Loans

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

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

Should You Put Cash Down?

Suppose you have some money to put down or are thinking about delaying until you have the money?

Our loan providers 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 mortgage loan paid off sooner and save thousands of dollars on interest rates too.

Additionally, don’t overlook that having equity in your home will offer more security and flexibility, especially if something unanticipated happens. With the 100% financed physician home mortgage loan, you ought to expect to start out underwater. If something doesn’t work out and you’re 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 home.

No matter if you’re relocating down the street, across town or across the country, we are right here to assist you all throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Leesburg Virginia physician home mortgage program!

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