Homebuying for doctors & nurses.
Category : HOME BUYING
Affordable Home Ownership for Medical Personnel
We all count on medical professionals to keep us healthy. Furthermore, we know you have worked tirelessly to save lives and make lives better. Therefore, we want to honor your work and your dedication to keeping Americans healthy. That’s why Homes for Champs Realtors want to make the home buying process easier and more affordable for our nation’s doctors, nurses, and other medical professionals.
We want to recognize your selfless service. That’s why Homes for Champs-affiliated Realtors will refund 25% of their commissions back to you after closing. For example, that means on a $500,000 home, your rebate would be $3,750!
In addition, Homes for Heroes will also donate $500 to a charity or memorial of your choice.
All medical professionals are eligible: doctors, nurses, nursing assistants, and other medical personnel.
Starting the Home Buying Process
Purchasing a home is a smart investment, not to mention an exciting milestone in your life. No matter whether this is your first home or your tenth, you’ll want to make sure you have everything you need to make the buying process go smoothly.
- Get your finances in order. First, check your credit score, so you know where you stand. Many medical professionals leave college with a large amount of student loan debt. While this isn’t uncommon, it can wreak havoc on your credit score and your ability to qualify for a home loan.
Secondly, if you’ve got student loans or a large amount of outstanding debt, pay down as much as you can so you can increase your credit score and qualify for a better interest rate on your mortgage.
- Get pre-approved. The next step is pre-approval and pre-qualification. Contact lenders in your area, or reach out to a Homes for Champs real estate agent for suggestions. It pays to shop around, so make sure you contact several lenders to find the best interest rate.
Many sellers won’t accept an offer from a buyer who isn’t already pre-qualified. Therefore, taking the time to get your financing in order will put you in a better position to negotiate once you find the perfect home.
- Find a Homes for Champs real estate agent in your area. Our affiliated Realtors want to thank you for helping those in need. All of us seek medical attention at one time or another, so our real estate agents want to recognize your service. That’s why Homes for Champs-affiliated agents refund 25% of their Realtor commission to you after closing. We believe our nation’s heroes deserve our appreciation, so we want to make home ownership more affordable.
Home Financing Options for Medical Professionals
- FHA Loans. If you’re a first-time homebuyer, consider an FHA loan. FHA loans are government-backed by the Federal Housing Administration and are therefore specifically designed to help first-time homebuyers purchase houses. Plus, an FHA loan can get you into a home with as little as 3.5% down depending on your credit history. Unlike FHA, conventional loans (see more about those below) typically require borrowers to have up to 20% down at closing.
However, you should know that FHA loans require the borrower to pay private mortgage insurance (PMI), monthly insurance that protects the lender should you default on the loan. You’ll have to pay PMI monthly until your payments reach 20% of your equity or less than 80% of your total loan amount.
- Conventional Loans
Conventional mortgages are loans that aren’t backed by a government agency. Therefore, most lenders borrowers to put 20% of the home’s value down at closing. However, some lenders will approve a loan with less than 20% down as long as you carry PMI.
Conventional loans are typically 15- or 30-year fixed terms and with fixed interest rates based on the Federal Reserve rates. Interest rates and payments remain the same throughout the life of your loan (although tax rates and insurance payments may increase over time).
Conventional loans are an excellent option for buyers who have a significant amount of money to put down on a loan. More substantial down payments mean a lower overall monthly payment, and you’ll also pay less in interest over the life of your loan. Contact a reputable lender to learn more about conventional loans and your options.
Finding a Real Estate Agent Who Appreciates Medical Professionals.
Next, it’s time to hire a qualified and experienced real estate professional. An experienced Realtor will help you find the perfect home, make a strong offer, and negotiate maintenance issues with the sellers. However, not all real estate agents participate in the Homes for Champs rebate program, so check our website and connect with an affiliated agent in your area.
Homes for Champs real estate agents are eager to thank our nation’s medical professionals for their selfless service. So, our affiliated Realtors offer a 25% rebate on your agent’s commission. Plus, Homes for Champs will donate $500 to a memorial fund or charity of your choice.
Why do our brokers offer rebates on their hard-earned Realtor commission? Because they want to show their appreciation for your dedication and talent. They want to thank you for keeping ourselves, our friends, and our families safe and healthy.
Want to Know More About Homes for Champs?
Commission refunds are not allowed in all states. For a detailed explanation of the program and how you can benefit from a rebate for military heroes, check out our Frequently Asked Questions page.
Thank you for serving us. Now, let us serve you When you’re ready to buy a home, Homes for Champs will connect you with a real estate agent who wants to recognize your extraordinary service.