Physician mortgage loans
physician mortgage loans are those mortgage loans that are provided to physician s. These loans are also called as doctor mortgage loans sometimes and terms and conditions attached with these loans are made favorable as recognition for the services physician s are providing to the society. There are many types of lending institutions that fulfill mortgage requirements of these professionals in an advantageous manner through physician mortgage loans.
In fact, there are some mortgage lending institutions that provide specialize in providing these loans. Home and mortgage loans provided as physician mortgage loans are tailored in such a manner that they fulfill the exact requirements. physician mortgage loans have played a great loan in securing home financing to physician s and these are generally provided to practicing physician s as well as students that are just out of medical school. Let us discuss some of sources of physician mortgage loans to understand more.
Some sources of physician mortgage loans
physician loans is one of leading providers of physician mortgage loans in United States and specialize in providing home finance. Thousands of physician s have been benefited from the loan programs offered. It has been providing services since 1994 and one of best mortgage loans in the nation are offered to the graduates of medical schools. Loan officers attached with source are among the highly trained in the mortgage industry and thus, are able to understand the exact requirements of physician s. No money down mortgage loans are also provided as 100% financing loans. Since most of programs do not have PMI or private mortgage insurance, monthly payments are low. Through interest only option, a physician can lower his monthly payment further. There are many types of mortgage loan programs available like 30 year fixed mortgage loans, 3/1, 5/1, and 7/1 adjustable rate mortgage loans. A physician can move up to 60 days before the start of next position.
Special underwriting features make these loans as true doctor loans and all loans have easy qualification criteria. It is important to understand here that these loans are provided irrespective of the status of physician and thus, medical students, resident physician s, practicing physician s etc can apply for the loans. Interest rates attached with loans are one of lowest. It is fully understood that all doctors cannot qualify for the standards attached with Fannie Mae loans and this is the reason why loan programs have been developed for accommodating all the needs of physician s. Practicing physician s are offered zero down loan programs and higher pricing for jumbo loans is not resorted to. Thus, a physician can easily get loan more than $417000. Corporate office of physician loans is located at 5880 Cleveland Ave, Columbus, OH. Its contact number is 614-340-5086. Its toll free number is 877-913-6286.
Bank of America is another institution offering physician mortgage loans in United States. A person can easily call at 336-721-4077 for getting all types of information attached with above types of loans. It offers 100% medical doctor loans that do not require any down payment as well as private mortgage insurance. There are many types of benefits achieved through physician mortgage loans. For example, loans up to $650000 can easily be obtained as 100% loans. If a person has excellent credit, he can also qualify for 100% loans for $750000. Various types of physician mortgage loans offered are fixed rate loans, adjustable rate mortgage loans etc. As far as qualifying debt ratios are concerned, these are 33/38%. Apart from physician s, maxillofacial dental surgeons and oral surgeons are also eligible.
Carteret mortgage is another source offering physician mortgage loans in United States. This source specializes in providing home loanservices to the medical community. Loan programs are designed so as to fulfill the requirements of physician s in exact manner. All types of physician s are eligible to get the loan amount. Thus, doctors who are just out of school, practicing physician s, physician s in residency etc can easily apply for the loan amount. Apart from low rates, zero down payment mortgage loans are also offered. loans are provided through the approved branch which is physician lender.com. Services are provided across the nation. Various types of loans offered are conforming and jumbo loans, refinance, equity and purchase loans, first time home buyer loans, high qualifying loans, alternative documentation loans, mixed use loans, self employed loans, bad credit loans, no income verification loans etc.
Value MD is another source providing physician mortgage loans in United States. It offers 100% loans, no private mortgage insurance loans etc. Through these loans, a physician can easily get 100% loan up to $1000000 for purchasing primary residences. Even if a person is not able to make 20% down payment, no PMI is required. Various types of loans offered are 30 and 15 year fixed rate loans, adjustable rate mortgage s like 3/1, 5/1 and 10/1. It is important to understand here that deferred student loans are not taken into consideration for the purpose of qualification of debt ratios. Minimum credit score accepted is 720 and if student loans are also running, it is 700. Apart from physician s, DMS, DDS, Oral dental surgeons, ophthalmologists and optometrists can also apply. A person can easily call at 336-471-1825 for getting more information.
Similarly, Doctor Loan USA is another source that can be contacted for getting physician mortgage loans in United States. It offers free and no obligation services and allows physician s to get loan amounts from national bank lender. Medical residents, license medical doctors, DDS, DPM, OD, DMD, and DO can apply for the physician mortgage loan. Most of loans programs are offered to U.S citizens and permanent residents. loans are not provided to medical students. Minimum credit score required is 700 and loans can be obtained for buying town homes, family homes, condominiums etc. Interest rates are one of lowest in the industry. 100% loans and no PMI loans are also offered.
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