Home Mortgage For Physician Maplewood 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 our clients are a first time home buyer or buying a new home in Maplewood Minnesota, our vetted loan officers have a solid understanding of the local real estate market and what it requires to close your physician loan with proficiency and know-how.

Our loan officers in Maplewood Minnesota offer special financing for doctors, exactly like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The main 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 secure early career doctors by loaning them more money with a fewer number of terms than their competitions.

Physician Home Mortgage Experts In Maplewood Minnesota

If you are looking for a physician home loan in Maplewood Minnesota then you came to the right place.

You’ve trained 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 loan!

A physician home loan is a customized loan program created just for doctors in the home purchasing process.

We recognize the economic demands of your student loan debt, and how vital it is to preserve working capital for when the time is right with launching 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 home loan that is specially tailored for your needs.

Quite a few physicians in Maplewood Minnesota may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial obligation 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 typically have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

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

Advantages of Physician Home Loans

  • Typically does not include student loan monthly payments in debt-to-income percentage.
  • Requires very 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 approve a contract as evidence of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

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

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

Furthermore, don’t overlook that having equity in your home will most likely offer more security and flexibility, especially if something unforeseen happens. With the 100% financed physician mortgage loan, you ought to expect to start out under water. If something does not work out and you’re forced to sell quickly, you need to be prepared to write a potentially big check for up to 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 help you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Maplewood Minnesota physician home loan program!

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