It is true that with a VA loans you can purchase a home for no money down, but unless you have served or are currently serving in the US military you can not qualify. That is why our Doctor Loans at the Doctor Mortgage Alliance are so attractive, since it gives any Doctor ability to purchase a home without having to have served in the military.
VA loans beyond just having no down payment, are considered by many mortgage experts of one of the premier home loan programs available. The financial requirements with VA loan make it easier for many more people to be able to qualify. Since it is backed by the VA, lenders are a lot more willing to lend, even if the applicant doesn’t have the best credit scores.
Also because of that backing, there is no need for PMI or private mortgage insurance, which for other loan programs can add up to hundreds of dollars a month to your mortgage payments. As you can see there are some very good reasons why VA is considered such a premium loan program. But unless you served in the military you can’t qualify. This is where our Doctor Loans can help you.
Our Doctor Loans have the same extremely attractive terms. With a Doctor home loan you too can purchase a home for no money down. Also if you are a new doctor and you haven’t had a chance to build up your financial history you too can qualify based on your future earnings as full time doctor. And all PMI is being waived from payment as well.
This makes our doctor loans just as easy to qualify for and purchase home. In fact they are even better since the loan amount limits are not as limited as with VA loans. Typically in many areas there is a $417,000 loan limitation with VA loans, but not with doctor loans. We have approved loans upwards of $1,500,000 with vary little down payment.
So even if you do qualify for a VA loan, a doctor loan can bring even more to the table. To see if you qualify you can get started by using our Purchase Assistant tool for a free rate quote.