Affordable physician home loans in Kansas City work similarly to traditional mortgages, but with additional benefits specifically tailored for physicians:
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- Loans up to 103% loan to value for loan amounts up to $1.25 million.
These loans typically require a lower down payment than traditional mortgages. Some lenders offer a physician home loan with no down payment or as low as 0% down payment.
- Loans up to 103% loan to value for loan amounts up to $1.25 million.
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- 95% loan to value on loans over $1.25 million.
These loans often have higher loan limits than traditional mortgages, which can help physicians buy more expensive homes.
- 95% loan to value on loans over $1.25 million.
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- No Private Mortgage Insurance (PMI) requirement.
This can save borrowers thousands of dollars over the life of the loan.
- No Private Mortgage Insurance (PMI) requirement.
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- 5, 7 and 10 year Adjustable Rate Mortgages amortized over 30 years.
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- 15 year fixed rate mortgages.
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- All work Visa’s accepted.
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- We take the higher credit score of either borrower.
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- Minimum credit score is 660 for practicing physician and 640 for residents.
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- More flexible underwriting.
Affordable Physician home loans have more flexible underwriting requirements, which can make it easier for physicians to qualify for a loan. For example, some Kansas City lenders will accept an offer letter of employment as proof of income, and some will consider projected income for physicians who are still in residency or fellowship.
- More flexible underwriting.
Overall, these loans can be a great option for physicians who are looking to buy a home. However, it’s important to carefully consider the benefits and drawbacks of affordable physician home loans before deciding whether they are the right choice for you.
The professions we cover:
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- MD, DDS, DMD, Resident, Fellows, DO, OD
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