Physician Loan In Smyrna Tennessee

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 our clients are a first time home buyer or buying a new home in Smyrna Tennessee, our vetted loan officers have a strong understanding of the local area real estate industry and what it requires to secure your physician home loan with competency and expertise.

Our loan officers in Smyrna Tennessee offer exclusive financing for doctors, just like you.

First, let’s discuss why physician mortgage loans even exist. The reason is that doctors are very 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 secure early career doctors by lending them more money with a fewer number of requirements than their competitions.

Physician Loan Experts In Smyrna Tennessee

If you are trying to find a physician home loan in Smyrna Tennessee then you came to the right place.

You’ve trained very hard to become a doctor and buying home shouldn’t 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 only for doctors?

Yup, doctors get their own loan!

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

We are aware of the financial demands of your student loan financial debt, and how important it is to maintain working capital for when the time is right with embarking upon 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 mortgage loan that is exclusively tailored for your needs.

Many doctors in Smyrna Tennessee may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or little to no work history.

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

Not all financial institutions offer this specialized product and within banking institutions that do simply speaking to the best mortgage loan officer makes a significant difference.

Advantages of Physician Home Mortgage Loans

  • Typically does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires small to no down payment (0-5 percent).
  • Often does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve an agreement as documentation of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

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

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

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

Furthermore, don’t overlook that having equity in your home will likely offer greater security and overall flexibility, especially if something unanticipated 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 are forced to sell quickly, you should be prepared to write a potentially sizable check for up to 10% of the purchase price simply to get out of the house.

Whether you are moving down the street, across town or across the country, we are here to work with you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Smyrna Tennessee physician home loan program!

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