If you’ve found your way to UtahPhysicianHomeLoans.com you’re probably about to make one of the biggest financial and family decisions of your life thus far. I understand you already have an incredibly full schedule and my goal is to make this transition as smooth and stress free as possible for you.
I’ve had the good fortune of working with a lot of relocating MDs and DDSs over the last 10 years of my mortgage career and during that time, I’ve learned a few things about financing Medical Professionals. First of all, they have unique financial and contractual situations that require specialized mortgage underwriting and understanding of their unique situations. I’ve found that not all Underwriters look at this the same and what might be permitted with one bank is not allowed with another. I’ve spent the last few years putting together the most comprehensive list of Physician home loan products in Utah to cater to the specific mortgage needs of MDs and DDSs.
I’ll tell you another thing I’ve learned, Physicians, especially early in their careers, have rapidly expanding income levels and need specialized home loan products that allow for principle reduction and re-amortization of their mortgage payments. I’ve found several mortgage programs that will allow you to make big principle reductions, which trigger both lower mortgage interest rates and lower minimum monthly payments without refinancing. You won’t find that at your neighborhood mortgage lender. Nope, these are specialized Physician and Doctor Mortgage products.
Here are a few other highlights we can get done for Physicians and Dentists:
- We don’t count deferred student loan payments against you. This is a biggie for our friends coming out of residency and internships. We are able to not count these debts towards debt to income ratios, and even use Stipend income to qualify.
- We can use Self Employed or 1099 income with less than 12 months history. This is huge for Physicians that go straight into private practice or partnerships that don’t have a set W-2 wage or salary.
- We can finance over 80% of the purchase price of your new home without mortgage insurance. This is HUGE! Mortgage insurance can add tens of thousands of dollars on to the cost of your loan and we have programs that avoid MI all together.
- We can close based on your contract. Often times we see Physicians relocating and they want to close on their new home before they’ve started at their new practice. We understand the stress of relocation and can get your home financed before your first day on the job.
- Higher loan to value and loan amount programs than anyone else. We truly have mapped out every local and national mortgage bank and have compiled all their best Physician loan programs for you.
We love the relationships we’ve formed with our MD and DDS clients and hope that you will give us an opportunity to serve you. We have a long list of local medical professionals that would be happy to talk to you about how we made the impossible, possible for them. Please contact us with specific questions or if there is anything we can do for you.
Josh Mettle is a top producing mortgage lender specializing in financing Physicians, Dentists and Medical Professionals in Salt Lake City, Utah. Josh is also a fourth generation real estate investor, and owns a number of rental homes, apartment units and mortgages. If you’re ready to buy or sell residential real estate, get Josh’s latest free tips, tools and newsletter at http://www.joshmettle.com . Utah Real Estate Professionals can keep informed by visiting Josh’s Mortgage and Real Estate Blog at http://www.joshmettle.com/blog/ or his website dedicated to Medical Professionals at www.UtahPhysicianLoans.com