Physician Home Loan Program Suffolk Virginia

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 buying a new home in Suffolk Virginia, our vetted loan officers have a solid understanding of the local area real estate industry and what it takes to secure your physician home mortgage with proficiency and know-how.

Our loan officers in Suffolk Virginia provide exclusive financing for doctors, like you.

First and foremost, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very profitable customers 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 fewer terms than their competitions.

Physician Loan Experts In Suffolk Virginia

If you are trying to find a physician loan in Suffolk Virginia 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 challenging.

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 mortgage!

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

We understand the budgetary demands of your student loan financial obligation, and how crucial it is to preserve 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 specifically tailored for your needs.

A large number of doctors in Suffolk Virginia may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or little to no work history.

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

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

Advantages of Physician Home Mortgage Loans

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

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

Should You Put Money Down?

Suppose you have some money to put down or are considering delaying until you have the funds?

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 mortgage paid off sooner and save thousands of dollars on interest too.

Furthermore, don’t forget that having equity in your home will likely provide more security and overall flexibility, especially if something unplanned happens. With the 100% financed physician home 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 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.

No matter if you are moving down the road, across town or across the country, we are here to lend a hand you all throughout the physician home loan process:: because you deserve it!

Doctors, get the house of your dreams with our Suffolk Virginia physician home loan program!

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