Physician Loan - Applying For A Physician Mortgage Loan Online

Many physicians choose to apply for a physician's mortgage loan through an online lender. This can be done in person at an office or through the mail. In either case, it is wise to thoroughly check out the lender and its reputation. There are two ways to find physicians mortgage loan interest rates - online searches for lenders and stopping into a local real estate agent's office and asking about financing options. A physician who does his or her own loan applications often finds better results if they use a broker, as an experienced loan officer can offer more tailored options based on medical facts and current financial health.

When physicians decide to apply for a physician's mortgage loan online, the process generally begins with filling out a physician's application. The application asks for personal information, such as address, contact information, preferred payment methods and co-pays, preferred interest rates and other information related to medical practices. The application also requires financial information, such as annual salaries and a brief career history of practice.

After submitting the physician's application, physicians will receive an acknowledgment or e-mail in the coming days to set up an initial call with a loan officer. During this time, the loan officer will go over the physicians information and see if there is a match between the qualifications and interest rate for the loan. If there is, the loan will be placed in the physicians hands. If not, the realtor will make another call and the process will repeat. The real estate agent's role is to close the deal, which typically involves a signed contract for a down payment and closing costs.

For physicians who decide to apply for a loan online, one of the primary benefits is the ease and convenience. Because it is so easy and free, physicians are encouraged to apply for as many loans as they qualify for. Applying for a loan is often much faster and easier than mailing in an application. And with the ease and convenience of applying directly online, many physicians have experienced the joy of being able to source their loan without much interruption to their current practice.

While physicians have long been in need of a mortgage loan for their practices, their ability to obtain a loan has increased tremendously due to the current economic conditions. While a loan is not a guarantee of obtaining funds, it certainly increases the chances of success. Applying for a loan through a broker makes the process faster and ensures that the lender has access to additional information regarding the physician's finances. Many physicians want to be able to discuss the loan with their physicians, and are pleased that their physicians have taken the time to fill out the application with a complete understanding of their finances. Doctors are also happy that they can easily and accurately explain the reasons behind their financial difficulties, such as malpractice charges or other issues, which help physicians obtain a better interest rate on their mortgage loan. In addition, the application process takes only a few minutes and can be completed online.

Another benefit of physicians applying for a physician mortgage loan is that the application is free from any type of obligation or hidden fees. In most cases, physicians will be required to complete and submit a HIPAA form that requests permission for a HIPAA review of their application. The HIPAA forms are easy to complete and only take a few minutes. Once completed, physicians will receive their approval via email. This ease of approval helps physicians to get the loan they need more quickly, which can make all the difference between operating a successful practice and risking everything you have built.