Physician Home Loan Program In New Brunswick 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 New Brunswick New Jersey, our vetted loan officers have a solid understanding of the local real estate industry and what it takes to close your physician loan with competency and expertise.

Our loan officers in New Brunswick New Jersey provide special financing for doctors, exactly like you.

First, let’s talk about why physician mortgage loans even exist. The reason is that doctors are extremely 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 lending them more money with a lot fewer stipulations than their competitions.

Physician Mortgage Experts In New Brunswick New Jersey

If you are trying to find a physician mortgage in New Brunswick New Jersey then you came to the right place.

You’ve trained very hard to become a doctor and purchasing 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 specifically for doctors?

Yup, doctors get their own loan!

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

We are aware of the budgetary 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. Regardless 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 exclusively tailored for your needs.

A large number of physicians in New Brunswick New Jersey may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or very little to no work history.

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

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

Advantages of Physician Home Mortgage Loans

  • Usually does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Typically does not require 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, that don’t yet exist.

Buying a house doesn’t need to drain 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 looking at waiting until you have the money?

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 instances, you’ll get your home mortgage paid off sooner and save thousands of dollars on interest too.

Additionally, don’t forget that having equity in your house will most likely offer greater 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 doesn’t work out and you’re forced to sell quickly, you should be prepared to write a potentially large check for as much as 10% of the purchase price just to get out of the house.

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

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

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