Physician Home Loan Program In Mentor Ohio

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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Regardless if our clients are a first time home buyer or purchasing a new home in Mentor Ohio, our vetted loan officers have a solid understanding of the local real estate market and what it takes to secure your physician loan with competency and expertise.

Our loan officers in Mentor Ohio 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 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 lock in early career doctors by lending them more money with a lot fewer requirements than their competitions.

Physician Loan Experts In Mentor Ohio

If you are looking for a physician loan in Mentor Ohio then you came to the perfect place.

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

Yup, doctors get their own mortgage!

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

We recognize the financial demands of your student loan 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 depend on us to find a mortgage loan that is specifically tailored for your needs.

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

Despite these factors smart loan providers know that doctors are a good bet considering that they typically have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banks that do just simply consulting with the best mortgage loan officer makes an enormous difference.

Benefits of Physician Mortgage Loans

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

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

Should You Put Money Down?

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

Our loan providers can do the math for you and show you what each scenario looks like and the advantages of each too.

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

Additionally, don’t forget that having equity in your home will most likely provide more security and flexibility, particularly if something unplanned happens. With the 100% financed physician mortgage loan, you ought to anticipate to begin 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 just to get out of the home.

Regardless of whether you are moving down the street, across town or across the country, we are available to lend a hand you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Mentor Ohio 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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