Dentist Home Loan North Dakota

Benefits of a Dentist Loan

  • Zero or Low Down Payment 0-10% is typical.
  • No Private Mortgage Insurance(PMI) saving you up to 1% annually. That is a $10,000 per year savings on a 1 million dollar home.
  • Student loan debt not counted against you. This allows you to qualify for a nicer home.
  • Higher loan limits up to 2 million are available typically at the same rate.
  • Ability to close 90 days prior to new employment beginning. Moving is stressful enough without starting a new job. Why move twice or pay huge premiums for long term housing.
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Whether our clients are a first time home buyer or purchasing a new home in North Dakota, our vetted loan officers have a strong understanding of the local area real estate market and what it really takes to close your dentist mortgage with efficiency and know-how.

Our loan officers in North Dakota offer special financing for dentists, like you.

First, let’s discuss why dentist mortgage loans even exist. The main reason is that dentists are extremely profitable clients for lending institutions. They take out big loans early in their careers and almost always pay them off. Lenders use dentist home loans to lock in early career dentists by loaning them more money with fewer stipulations than their competitors.

Dentist Mortgage Experts In North Dakota

If you are searching for a dentist home loan in North Dakota then you came to the right place.

You’ve trained very hard to become a dentist and buying home shouldn’t be nearly as challenging.

Did you know there is a special loan that makes it easy for dentists to buy a home?

A home loan specifically for dentists?

Yup, dentists get their own loan!

A dentist home loan is a customized loan program created just for dentists in the home purchasing process.

We recognize the financial demands of your student loan debt, and how essential it is to preserve working capital for when the time is right with launching your dental career. No matter if you are a couple years into practice, or a well established dentist, you can depend on us to find a mortgage loan that is exclusively tailored for your needs.

A large number of dental professionals in North Dakota may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial debt or minimal to no work history.

Despite these reasons smart loan providers know that dentists are a good bet considering that they typically have an exceptionally low default rate on loans, high earning potential and stable jobs.

Not all banks offer this specialized product and within banks that do simply speaking to the right mortgage loan officer makes a tremendous difference.

Advantages of Dentist Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Generally requires small to no down payment (0-5 percent).
  • Usually does not necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Usually will approve a contract as documentation of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

Buying a house doesn’t need to empty your savings and the process doesn’t have to drain your time.

Should You Put Cash Down?

Suppose you have some cash to put down or are considering waiting until you have the funds?

Our lenders can do the math for you and show you what each circumstance looks like and the benefits of each too.

In most cases, you’ll get your mortgage loan paid off sooner and save thousands of dollars on interest rates too.

Furthermore, don’t overlook that having equity in your home will most likely offer greater security and overall flexibility, specifically if something unplanned happens. With the 100% financed dentist mortgage loan, you should expect to start out underwater. If something doesn’t work out and you are forced to sell quickly, you need to be prepared to write a potentially big check for up to 10% of the purchase price just to get out of the house.

Whether you’re relocating down the road, across town or across the country, we are right here to lend a hand you throughout the dentist home loan process:: because you deserve it!

Dentists, get the home of your dreams with our North Dakota dentist home mortgage program!

Top cities in North Dakota for a dentist home loan.