Bonita Springs Physician Loans

 Physician Loans | Doctor Loans | Bonita Springs, Florida

There are a few lenders in the Bonita Springs area who understand the unique financial needs of doctors (MD, DO, DPM) and dentists (DDS, DMD). Whether a doctor is still finishing residency or a partner in a medical practice, physician loans, also known as doctor loans,  provide flexible financing options.  Physician loans vary  by lender but many physician loans offer:

  • Fixed or variable-rate pricing
  • Generous repayment terms
  • Interest-only payment options
  • Variable loan amounts depending on the level of training or the number of years in practice.
  • Doctor loans, depending upon the lending institution, often have low or no application or origination fees, no prepayment penalties, no credit life insurance requirements and no hidden charges.

Physician loans are designed to meet the special credit needs of doctors still in training, in residency, a fellowship program and those just beginning to practice medicine.

Physician loans offer doctors low interest rates with the ability to put very little or a zero down payment.  It also allows doctors to NOT use their student loan debt if they have any in their debt ratio plus they can use future income rather than current or past income.

When standard Fannie Mae loans from most lenders won’t work a physician loan will. The mortgage underwriting process is built to accommodate physicians and doctors plus they usually offer competitive rates.

Research has shown that physicians with high credit scores have a very low risk of default on residential mortgages.  Normally a physician with high debt, higher ratios, few assets items cause concern for underwriters but that financial position is considered normal to doctors and not taken into consideration and not considered a negative credit penalty.

If you would like more information about obtaining a doctors loan or a physicians loan to fund your Bonita Springs home purchase call or text Chris at 239-273-7430.

We would be happy to provide a reference for a local lender who has successfully funded doctors loans to buyer clients in Bonita Springs in the past.