Physician Home Loan Program In Springfield Ohio

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 you are a first time home buyer or purchasing a new home in Springfield Ohio, our vetted loan officers have a solid understanding of the local real estate industry and what it really requires to close your physician home loan with efficiency and know-how.

Our loan officers in Springfield Ohio provide special financing for doctors, like you.

To start with, let’s talk about why physician mortgage loans even exist. The reason is that doctors are extremely 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 secure early career doctors by loaning them more money with a lot fewer stipulations than their competitions.

Physician Home Loan Experts In Springfield Ohio

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

You’ve worked very hard to become a doctor and purchasing 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 loan!

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

We recognize the budgetary demands of your student loan financial debt, and how vital it is to maintain working capital for when the time is right with starting your career. No matter if you are a couple years into practice, or a well established doctor, you can depend on us to find a home loan that is specifically tailored for your needs.

Quite a few doctors in Springfield Ohio 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 lenders know that doctors are a good choice considering that they traditionally have an incredibly low default rate on loans, high earning potential and secure jobs.

Not all banks offer this specialized product and within banking institutions that do simply talking with the right home loan officer makes an enormous difference.

Advantages of Physician 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 necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will accept a contract as proof of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

Suppose you have some money to put down or are looking at waiting until you have the funds?

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

In most circumstances, you’ll get your home loan paid off earlier and save thousands on interest rates too.

Furthermore, don’t overlook that having equity in your house will likely offer more security and flexibility, particularly if something unforeseen happens. With the 100% financed physician home mortgage loan, you should expect to start out underwater. If something doesn’t work out and you’re 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 house.

Whether you’re moving down the road, across town or across the country, we are here to assist you all throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our Springfield Ohio physician home loan program!

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