Physician Home Loan Program Norman 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 if you are a first time home buyer or purchasing a new home in Norman Oklahoma, our vetted loan officers have a solid understanding of the local area real estate market and what it takes to close your physician home mortgage with proficiency and expertise.

Our loan officers in Norman Oklahoma offer exclusive financing for doctors, just like you.

To start with, 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 secure early career doctors by lending them more money with a lot fewer requirements than their competitors.

Physician Home Loan Experts In Norman Oklahoma

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

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

Yup, doctors get their own home loan!

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

We understand the financial demands of your student loan financial obligation, and how essential it is to preserve working capital for when the time is right with launching your career. Regardless if you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is specifically tailored for your needs.

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

Despite these factors smart lending institutions know that doctors are a good choice considering that they historically have an incredibly low default rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banking institutions that do simply speaking to the right home loan officer makes an enormous difference.

Advantages of Physician Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Often does not necessitate private mortgage insurance (PMI), despite the fact that 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.

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

Should You Put Money Down?

Suppose you have some cash to put down or are looking at waiting 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 circumstances, you’ll get your mortgage paid off earlier and save thousands on interest too.

Furthermore, don’t overlook that having equity in your house will definitely provide greater security and flexibility, particularly if something unexpected happens. With the 100% financed physician mortgage loan, you ought to anticipate to start out under water. If something doesn’t work out and you are forced to sell quickly, you should be prepared to write a potentially large check for up to 10% of the purchase price simply to get out of the home.

Whether you’re relocating down the road, across town or across the country, we are right here to work with you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Norman Oklahoma 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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