Physician Home Loan Program In Springfield Missouri

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 Springfield Missouri, our vetted loan officers have a solid understanding of the local real estate industry and what it really requires to secure your physician home mortgage with proficiency and expertise.

Our loan officers in Springfield Missouri provide exclusive financing for doctors, exactly like you.

First, let’s discuss why physician mortgage loans even exist. The reason is that doctors are extremely 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 fewer number of stipulations than their competitors.

Physician Home Mortgage Experts In Springfield Missouri

If you are trying to find a physician mortgage loan in Springfield Missouri then you came to the right place.

You’ve worked 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 specifically for doctors?

Yup, doctors get their own loan!

A physician loan is a specialty loan program created just for doctors in the home purchasing process.

We recognize the economic demands of your student loan debt, and how important it is to maintain working capital for when the time is right with embarking upon 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.

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

Despite these reasons smart loan providers know that doctors are a good choice because they typically have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

Not all lenders offer this specialized product and within banking institutions that do just simply speaking to the right mortgage loan officer makes a tremendous difference.

Advantages of Physician Home Mortgage Loans

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

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

Should You Put Cash Down?

Suppose you have some cash to put down or are considering waiting until you have the funds?

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 cases, you’ll get your home mortgage paid off sooner and save thousands of dollars on interest rates too.

Furthermore, don’t overlook that having equity in your house will likely provide more security and overall flexibility, especially if something unplanned happens. With the 100% financed physician home mortgage loan, you ought to anticipate to begin under water. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially big check for as much as 10% of the purchase price just to get out of the home.

Whether you’re moving down the road, across town or across the country, we are here to lend a hand you through the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Springfield Missouri 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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