Physician Home Loan Orland Park Illinois

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 buying a new home in Orland Park Illinois, our vetted loan officers have a strong understanding of the local area real estate market and what it really takes to secure your physician loan with competency and know-how.

Our loan officers in Orland Park Illinois offer exclusive financing for doctors, just like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The reason is that doctors are extremely profitable clients 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 loaning them more money with a lot fewer terms than their competitions.

Physician Mortgage Experts In Orland Park Illinois

If you are looking for a physician home loan in Orland Park Illinois then you came to the right place.

You’ve trained 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 specifically for doctors?

Yup, doctors get their own mortgage!

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

We understand the financial demands of your student loan financial obligation, 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 count on us to find a mortgage loan that is specially tailored for your needs.

Quite a few doctors in Orland Park Illinois may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or minimal to no work history.

Despite these reasons smart lending institutions know that doctors are a good bet due to the fact that they typically have an incredibly low default rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banks that do simply speaking to the right mortgage loan officer makes a significant difference.

Benefits of Physician Home Loans

  • Usually does not include student loan monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Typically does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept a contract as evidence of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Money Down?

What if you have some funds to put down or are thinking about delaying until you have the funds?

Our 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 loan paid off earlier and save thousands on interest rates too.

Additionally, don’t forget that having equity in your house will definitely offer more security and overall flexibility, particularly if something unanticipated happens. With the 100% financed physician mortgage loan, you should expect to start out underwater. If something does not work out and you’re forced to sell quickly, you need to be prepared to write a potentially large check for up to 10% of the purchase price just to get out of the house.

Regardless of whether you’re relocating down the road, across town or across the country, we are available to work with you through the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Orland Park Illinois physician home mortgage program!

Less than an hour ago, doctors just like you requested a loan from the locations listed below.

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