Physician Mortgage In York Pennsylvania

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 of whether our clients are a first time home buyer or purchasing a new home in York Pennsylvania, our vetted loan officers have a strong understanding of the local real estate market and what it really takes to close your physician home loan with efficiency and expertise.

Our loan officers in York Pennsylvania provide specialized financing for doctors, just like you.

To start with, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are very 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 lock in early career doctors by loaning them more money with a fewer number of terms than their competitions.

Physician Mortgage Experts In York Pennsylvania

If you are looking for a physician mortgage in York Pennsylvania then you came to the perfect place.

You’ve worked very hard to become a doctor and buying home 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 only for doctors?

Yup, doctors get their own loan!

A physician mortgage is a specialized loan program put together just for doctors in the home buying process.

We are aware of the financial demands of your student loan financial obligation, and how crucial it is to maintain working capital for when the time is right with embarking upon your career. No matter if you are a couple years into practice, or a well established doctor, you can count on us to find a home loan that is exclusively tailored for your needs.

A lot of doctors in York Pennsylvania 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 factors smart lending institutions know that doctors are a good choice because they traditionally have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all financial institutions offer this specialized product and within banking institutions that do just simply talking to the best mortgage loan officer makes an enormous difference.

Advantages of Physician Mortgage Loans

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

Buying a house doesn’t have to empty your savings and the process doesn’t have 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 cash?

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

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

Additionally, don’t forget that having equity in your house will likely provide more security and overall flexibility, particularly if something unanticipated 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’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.

Whether you are relocating down the street, across town or across the country, we are available to help you all throughout the physician home loan process:: because you deserve it!

Doctors, get the home of your dreams with our York Pennsylvania physician loan program!

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