Home Mortgage For Physicians In Spartanburg South Carolina

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 purchasing a new home in Spartanburg South Carolina, our vetted loan officers have a solid understanding of the local area real estate industry and what it requires to close your physician home loan with proficiency and expertise.

Our loan officers in Spartanburg South Carolina offer specialized financing for doctors, exactly like you.

To start with, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very profitable clients for financial 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 terms than their competitors.

Physician Home Mortgage Experts In Spartanburg South Carolina

If you are looking for a physician loan in Spartanburg South Carolina then you came to the perfect place.

You’ve worked very hard to become a doctor and buying home really should not 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 specifically for doctors?

Yup, doctors get their own home loan!

A physician loan is a customized loan program developed just for doctors in the home purchasing process.

We are aware of the economic demands of your student loan liability, and how crucial it is to preserve working capital for when the time is right with launching 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 lot of physicians in Spartanburg South Carolina 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 reasons smart lenders know that doctors are a good bet because they historically have an exceptionally low default rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banks that do just simply consulting with the right mortgage officer makes an enormous difference.

Benefits of Physician Home Mortgage Loans

  • Usually does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Generally does not call for private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve a contract as proof of future earnings, in lieu of pay stubs or W-2s, that 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 Cash Down?

Suppose you have some money to put down or are looking at delaying 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 cases, you’ll get your home mortgage paid off sooner and save thousands of dollars on interest too.

Furthermore, don’t overlook that having equity in your home will likely provide greater security and flexibility, specifically if something unanticipated happens. With the 100% financed physician home mortgage loan, you ought to anticipate to begin underwater. If something doesn’t work out and you are forced to sell quickly, you need to be prepared to write a potentially big check for as much as 10% of the purchase price simply to get out of the home.

Whether you are relocating down the street, across town or across the country, we are here to help you through the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Spartanburg South Carolina 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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