9 Best Hidden Doctor Mortgage Loans in Nebraska
- A Nebraska physician mortgage loan comes with high loan limits and options for up to 100% financing.
- Payments on student loans often receive favorable treatment with these mortgages, making it easier for doctors and other professionals.
- Physician mortgages don’t require private mortgage insurance (PMI) even with a 0% down payment.
Commonly called the “Cornhusker State,” Nebraska is at the heart of the Midwest in the United States. Nebraska has many things to offer people who wish to live there, including some 4,600 working physicians. This landlocked state is bordered by South Dakota, Missouri, Kansas, Colorado, and Wyoming, and was the 37th state to join the country in 1867.
Owning a home in Nebraska may seem like a bit of a reach for some citizens, even its doctors. According to the Nebraska Realtors Association, the average home price in Nebraska is $206,888. 17.6% of the homes were built after 2000 and 72.2% of the homes are single-family units. 64.4% of the people in Nebraska own their homes, while 35.6% are renters.
For doctors and dentists, now may be the time to consider buying a home here. Nebraska also has plenty of shortage areas where physicians are truly needed. You might be able to get a great employment offer in these shortage areas and then use a doctor loan to get that property. A Nebraska Physician mortgage loan program may be able to help. Qualified individuals may be able to secure a minimal down payment or not pay one at all based mostly on your employment contract and future start date.
Show Me Lenders
Positives/negatives of Nebraska physician mortgage loans
As with any major commitment, it’s crucial to consider both the pros and cons when deciding on a mortgage. Nebraska physician loans come with a range of benefits, including:
- Favorable treatment of student debt by lenders
- Little or no money down
- Approval off of a signed contract, in some cases
- No PMI
What are the cons, if any, associated with these loans? Nebraskan doctors may want to keep in mind that all of those benefits come with higher interest rates, typically. You may also need to open a secondary account with your lending bank in order to consolidate your long-term financial relationship with them.
Not all doctor loans are created equal, so it’s good to know the specifics of each loan program before you apply. For healthcare professionals looking for a new home, a realtor might be able to scour the NMLS for you to find a range of homes you like. This gives you an initial idea of your possible budget for a new home. Also think about whether a lender has strict rules on whether you can refinance a property in the future if you face any pre-payment penalties.
Sometimes doctors use signing bonuses or housing bonuses to help reduce a mortgage payment, so knowing about these factors is important when selecting a lender. Talk about eligibility concerns with each lender if you’ve already got a start date for your new role.
Health professionals might look at many different factors when selecting a lender to work with on doctor loans, so make sure you read below to learn more about what each lender looks at and their experience with physician mortgage loans. As a path to homeownership and finding a primary residence, doctor loans might be perfect for many different kinds of providers.
Get Quotes for Your Physician Loan
9 Top Nebraska physician home loan lenders
If you’re in the market for a home in Nebraska, consider these physician mortgage loans that are available to state residents.