Physician Loan In New York New York

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 buying a new home in New York New York, our vetted loan officers have a strong understanding of the local real estate market and what it requires to close your physician loan with efficiency and expertise.

Our loan officers in New York New York provide specialized financing for doctors, just like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very 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 lock in early career doctors by loaning them more money with fewer stipulations than their competitions.

Physician Home Loan Experts In New York New York

If you are looking for a physician mortgage loan in New York New York then you came to the right place.

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

Yup, doctors get their own home loan!

A physician home mortgage is a specialty loan program made just for doctors in the home buying process.

We recognize the personal financial demands of your student loan liability, and how crucial it is to preserve 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 home loan that is exclusively tailored for your needs.

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

Despite these factors smart financial institutions know that doctors are a good choice because they traditionally have an incredibly low default rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do simply speaking with the best mortgage loan officer makes an enormous difference.

Advantages of Physician Home Loans

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

Purchasing a home 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 funds to put down or are thinking about delaying until you have the money?

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

Additionally, don’t overlook that having equity in your home will definitely provide greater security and flexibility, specifically if something unplanned happens. With the 100% financed physician mortgage loan, you should expect to begin underwater. If something doesn’t 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 just to get out of the house.

Regardless of whether you are relocating down the road, across town or across the country, we are right here 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 New York New York physician home loan program!

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