Physician Home Loan Program In Toledo 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 our clients are a first time home buyer or purchasing a new home in Toledo Ohio, our vetted loan officers have a strong understanding of the local real estate market and what it takes to close your physician mortgage with efficiency and know-how.

Our loan officers in Toledo Ohio offer exclusive financing for doctors, like you.

To start with, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are really 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 fewer stipulations than their competitors.

Physician Home Mortgage Experts In Toledo Ohio

If you are trying to find a physician home loan in Toledo Ohio then you came to the perfect place.

You’ve trained very hard to become a doctor and purchasing home 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 specifically for doctors?

Yup, doctors get their own mortgage!

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

We understand the economic demands of your student loan debt, and how crucial it is to preserve 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 home loan that is exclusively tailored for your needs.

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

Despite these reasons smart lenders know that doctors are a good bet due to the fact that they typically have an extremely low default rate on loans, high earning potential and stable jobs.

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

Benefits of Physician Home 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 an agreement as evidence of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Money Down?

Suppose you have some funds to put down or are thinking about waiting until you have the money?

Our loan providers can do the math for you and show you what each situation looks like and the advantages of each too.

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

Additionally, don’t overlook that having equity in your house will most likely offer greater security and flexibility, specifically if something unanticipated happens. With the 100% financed physician mortgage loan, you should expect to begin under water. 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 just to get out of the home.

Regardless of whether you are moving down the road, across town or across the country, we are available to help you throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Toledo Ohio physician loan program!

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