A Doctors Only Loan is a popular program for residents and doctors who want to purchase or refinance a home. What are the benefits of a Doctors Only Loan?
Haven’t had the chance to save up for a down payment but you’re ready for your dream home. Qualified borrowers may be eligible for 100% financing.
With no private mortgage insurance, or PMI, your monthly payments will be less, meaning you don’t have to sacrifice other areas of your monthly budget.
If you don’t qualify for the 100% financing, there are flexible down payment options available that allow you to lock in the down payment that works best for your individual situation.
Choose the terms that work best for you. Fixed rates lock you into an interest rate for the life of the loan. A variable rate fluctuates with the market but typically starts lower.
Once you find the right program for you, the process is as simple as 1, 2, 3!
Our mobile app, Mortgage Express, helps you get pre-approved quickly. It’s secure and you can upload all required documents straight into the app to save you time and energy.
Your mortgage consultant will keep you and your agent updated every step of the way with our Milestone Updates.
Your consultant will assist you with everything you need and help you setup your closing appointment.
Bailey and Wood is Committed to their Community by not only providing 5 Star Customer Service but also by giving back to the communities they serve!
Bailey and Wood makes financing your Dream Home easy! What makes us different? We’re local, have in-house processing, and give back to the communities we service!
Bailey & Wood loves supporting our community anyway we can! Which is why we have developed the Hometown Hero Program to assist veterans, first responders, teachers, and more with financing their dream home!
It was wonderful working with Bailey and Wood during my home purchasing process. I would recommend using them for your mortgage needs! "
For qualified borrowers, you will be eligible for 100% financing, meaning there is no required down payment. For other borrowers, your down payment will partially depend on your credit score.
In most cases, the loan doesn’t require private mortgage insurance.
You should never purchase a home without having it inspected beforehand. An inspection allows you, the homebuyer, to have a better understanding of the condition the home is in.
Aside from an inspection, the home will need to be appraised.
Most lenders cap the loan limit at around $650,000 when no down payment is made and no PMI is issued. However, if you have a down payment, you could qualify for a higher loan limit.