Home Mortgage For Physicians In Troy Michigan

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 buying a new home in Troy Michigan, our vetted loan officers have a strong understanding of the local real estate industry and what it really requires to secure your physician home loan with efficiency and know-how.

Our loan officers in Troy Michigan offer exclusive financing for doctors, just like you.

First, let’s discuss why physician mortgage loans even exist. The reason is that doctors are extremely profitable customers 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 lending them more money with a fewer number of requirements than their competitors.

Physician Loan Experts In Troy Michigan

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

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

Yup, doctors get their own loan!

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

We are aware of the economic demands of your student loan financial debt, and how essential 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 rely on us to find a home loan that is exclusively tailored for your needs.

A lot of doctors in Troy Michigan 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 factors smart financial institutions know that doctors are a good choice due to the fact that they typically have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all financial institutions offer this specialized product and within banks that do simply speaking with the best home loan officer makes a remarkable difference.

Benefits of Physician Home Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Generally does not necessitate private mortgage insurance (PMI), despite the fact that 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.

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

Should You Put Cash Down?

What if you have some cash to put down or are looking at delaying until you have the money?

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

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

Furthermore, don’t overlook that having equity in your home will likely offer more security and overall flexibility, especially if something unanticipated happens. With the 100% financed physician home mortgage loan, you ought to anticipate to begin under water. 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 up to 10% of the purchase price just to get out of the home.

No matter if you’re moving down the street, across town or across the country, we are here to lend a hand you through the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Troy Michigan physician home loan program!

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