Physician Mortgage In Linden New Jersey

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 buying a new home in Linden New Jersey, our vetted loan officers have a solid understanding of the local area real estate market and what it takes to secure your physician mortgage with proficiency and know-how.

Our loan officers in Linden New Jersey offer specialized financing for doctors, exactly like you.

First off, let’s talk about 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 secure early career doctors by lending them more money with a lot fewer terms than their competitions.

Physician Loan Experts In Linden New Jersey

If you are trying to find a physician loan in Linden New Jersey then you came to the right 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 home mortgage is a specialized loan program made just for doctors in the home buying process.

We understand the financial 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. Whether or not 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 doctors in Linden New Jersey 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 factors smart financial institutions know that doctors are a good choice due to the fact that they traditionally have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banking institutions that do simply consulting with the best mortgage officer makes a remarkable difference.

Advantages of Physician Home Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income ratio.
  • Requires small 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, which don’t yet exist.

Purchasing 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 money to put down or are considering waiting until you have the funds?

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

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

Additionally, don’t overlook that having equity in your house will offer more security and flexibility, especially if something unplanned happens. With the 100% financed physician mortgage loan, you should expect to start out under water. If something does not work out and you are forced to sell quickly, you should be prepared to write a potentially big check for up to 10% of the purchase price simply to get out of the house.

No matter if you’re relocating down the street, across town or across the country, we are available to work with you through the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Linden New Jersey physician loan program!

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