No Down Payment Mortgages for Doctors and Dentists

doctors1.jpgAs a former hospital administrator I am very aware of the challenges licensed medical professionals have in financing their home.  Many physicians and dentists graduate with several thousands (hundreds of thousands sometimes!) of debt and find it difficult to raise the down payment needed in order to both grown their practice and purchase a home.  That’s why I was so excited to be able to partner with Sun Trust Mortgage.

Sun Trust Mortgage provides a fantastic option –  financing up to 100%  with no mortgage insurance on primary home loan amounts up to $750,000 for physicians who are still in their internship, residency, and fellowship programs in MD and DO programs or for physicians who are within ten years of completion of their residency or fellowship training.  Interested in a larger loan?  They have financing of up to 95% up to $1,000,000 and 89.99% on loans up to $1,500,000.

Because it is common in our Charleston market for sellers to assist with closing costs, it may be possible for a doctor to purchase a home with no money out of pocket, and to wind up paying less on your mortgage payment than you do for rent.

Just like any mortgage loan, you will be asked to prove your income, assets, and creditworthiness.

Contact me today at 843-471-7315 or Shawn.Phillips@kw.com  and I’ll work with you and a doctor-loan specialist to get you pre-approved.  It is possible to close on your house up to two months before starting your position – so if you begin July 1, you may close in either May or June.

Curious about homes in this Charleston area?  Find Homes

I look forward to earning your business!

Warm regards,

Shawn

p.s. Not buying in the Charleston area?  This program is available in a number of southeastern states and I can help you find an excellent Realtor.

 

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About Shawn Phillips

As someone who has relocated several times – buying and selling houses of my own for personal and investment purposes – I can easily put myself in my clients’ shoes. I know what I needed from my Realtors and I attempt to provide that or better for my clients. My family relocated to Charleston six years ago and my love for the city and the lifestyle is one I enjoy sharing with others. Prior to entering real estate in the Low Country I was a hospital administrator for many years in Charleston and New York City and was a Realtor in Sarasota, Florida. Leveraging my experience, I pride myself in providing outstanding client service, availability, personal touches, multi-faceted marketing, and skilled negotiations. The level of trust given to me by a client is the greatest compliment I receive as a professional. It is the foundation of my practice. My dedication to each and every client is evident before, during, and after the sale!
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