Physician Mortgage Loan Advice
What is a Physician Loan?
A physician loan, often known as a “doctor loan,” is a mortgage that is tailored to medical professionals and does not typically demand a down payment.
When it comes to other loan types, lenders frequently require applicants to pay private mortgage insurance (PMI) if their down payment is less than 20%.
Physician loans allow you to avoid paying a down payment as well as PMI.
Physician Loans are intended for new medical professionals who are just starting out in their careers.
Doctors are often at a disadvantage when it comes to getting a regular mortgage early in their careers because they typically have a high debt-to-income ratio (DTI) after medical school and may not be able to provide neither proof of employment nor income if they’ve just graduated or started their residency.
Apply now to get the support you need from Bullhead city mortgage lenders regarding this type of loan.
Physician Loans Key points
- Medical Professionals friendly
- Understands recent graduates high debt-to-income ratios
- Avoid down payments
- Purchase or Refinance a Primary home.
Medical Professionals Loan Program
Up to 100% Financing | No Mortgage Insurance | Student Loan Debt Excluded from Qualification Criteria | Purchase or Refinance
This program is designed for medical professionals who have student loans or limited savings to help them qualify to purchase a home.
Eligible borrowers may be currently practicing or will begin employment within 90 days of closing.
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