Physician Home Loan Midwest City Oklahoma

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 of whether our clients are a first time home buyer or purchasing a new home in Midwest City Oklahoma, our vetted loan officers have a strong understanding of the local area real estate industry and what it really takes to secure your physician home loan with competency and know-how.

Our loan officers in Midwest City Oklahoma offer specialized financing for doctors, exactly like you.

First, let’s talk about why physician mortgage loans even exist. The main reason is that doctors are really profitable clients for financial 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 lending them more money with a fewer number of stipulations than their competitors.

Physician Mortgage Experts In Midwest City Oklahoma

If you are searching for a physician mortgage in Midwest City Oklahoma then you came to the right place.

You’ve trained very hard to become a doctor and buying home really 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 mortgage!

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

We understand the budgetary demands of your student loan financial debt, and how vital it is to maintain working capital for when the time is right with launching 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 mortgage loan that is exclusively tailored for your needs.

A lot of doctors in Midwest City Oklahoma may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or minimal to no work history.

Despite these reasons smart loan providers know that doctors are a good bet because they typically have an exceptionally low default rate on loans, high earning potential and stable jobs.

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

Benefits of Physician Home Loans

  • Usually does not include student loan monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Generally does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve an agreement as proof 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 have to drain your time.

Should You Put Cash Down?

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

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

In most situations, you’ll get your mortgage paid off sooner and save thousands of dollars on interest rates too.

Furthermore, don’t forget that having equity in your home will likely provide more security and overall flexibility, specifically if something unexpected happens. With the 100% financed physician mortgage loan, you should anticipate to begin under water. If something doesn’t 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 home.

No matter if you are moving down the road, across town or across the country, we are here to lend a hand you throughout the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Midwest City Oklahoma physician loan program!

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