Physician Mortgage Calculator

Even for those of us who are out of school, and finally not having to solve complex mathematical equations on a regular basis, the amazing benefits of a good calculator could end up saving you significant money on your home loan. That is why we have provided you with this handy physician mortgage calculator.

Go ahead, tinker away. 😊

Purchase price
Please enter here the amount you expect to pay for a home.
Enter a value
Down payment
Down payment is cash that you pay upfront for your home.
0.0%
Enter a value
Term in years
Number of years you have to pay.
years
Enter a value
Interest rate (per year)
The percentage of interest that you will pay on your mortgage for a specific term.
%
Enter a value
Property tax
Enter your property tax here if you know it.
per year
Enter a value
Home insurance
Most lenders require home insurance. Enter its price here.
per year
Enter a value
PMI
PMI is Private Mortgage Insurance which is usually required to pay if your Down payment less than 20%.
per month
Enter a value

Your total monthly payment


$

Principal & Interest
$
Home insurance
$
Property taxes
$

Everyone wants to know just one thing – “What will my payment be?” There are reams of paperwork that go into buying and selling a home. What matters is what your monthly payment is going to cost, which will determine what kind of house you can afford, where you can locate, and how much money you will be able to allocate (after the mortgage payment) towards other big-ticket items such as student loan debt.

Using our physician mortgage calculator, you will be able to get a good idea of where things stand, which will enable you to move ahead with confidence and make more knowledgeable, informed, and measured decisions.

Good mortgage calculators will consider all those pesky taxes and insurance premiums (can’t forget about those!). However they may be, they are an unavoidable part of life. Have a clear picture from the very start of how much they will cost you will ensure that you do not get caught by surprise later down the road.

There would be few things worse than being ready to close on your dream house and then suddenly finding out that the taxes and fees are way higher than you were planning. In this situation, like many others in life, knowledge is power.

So, a good mortgage calculator is going to take taxes and fees into account. However, a great mortgage calculator is one that is designed for your specific situation and takes everything into account! If you are in the medical field, you have found a great mortgage calculator because it was created specifically for you.

Yes, there are people in this world who understand your plight. Becoming a doctor is not an easy thing to do. That is why so many people aspire to that goal and never end up reaching it. But for those who do reach that goal, other difficulties still must be faced, usually in the form of student loan debt.

And this can lead to even more difficulties. Having a high amount of debt is usually something banks do not appreciate which can make it hard to get a loan. And finding permanent housing without the help of a bank loan is pretty much impossible these days.

That is where physician loans come into the picture – so that people like you who have worked hard and shown so much tenacity and dedication can have better access to good housing. We created this mortgage calculator with you and your unique situation in mind.