Physician Loan In Youngstown 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 buying a new home in Youngstown Ohio, our vetted loan officers have a strong understanding of the local real estate industry and what it requires to close your physician home mortgage with competency and expertise.

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

First off, 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 lock in early career doctors by lending them more money with fewer requirements than their competitions.

Physician Home Mortgage Experts In Youngstown Ohio

If you are searching for a physician home loan in Youngstown Ohio then you came to the right place.

You’ve trained very hard to become a doctor and buying home shouldn’t 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 specialty loan program developed just for doctors in the home purchasing process.

We are aware of the budgetary demands of your student loan liability, and how vital it is to maintain 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.

Quite a few doctors in Youngstown Ohio may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or little to no work history.

Despite these factors smart loan providers know that doctors are a good bet considering that they typically have an incredibly low default rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banking institutions that do just simply talking to the right mortgage officer makes a tremendous difference.

Benefits of Physician Home Loans

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

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

Should You Put Money Down?

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

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

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

Furthermore, don’t forget that having equity in your house will most likely provide more security and overall flexibility, especially if something unanticipated happens. With the 100% financed physician home mortgage loan, you should expect to begin under water. If something does not work out and you are forced to sell quickly, you should be prepared to write a potentially sizable check for as much as 10% of the purchase price simply to get out of the house.

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

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

Less than an hour ago, doctors just like you requested a loan from the locations listed below.

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