Home Mortgage For Dentists McAllen Texas

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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Regardless of whether you are a first time home buyer or buying a new home in McAllen Texas, our vetted loan officers have a strong understanding of the local area real estate market and what it really takes to secure your dentist home loan with proficiency and expertise.

Our loan officers in McAllen Texas provide specialized financing for dentists, exactly like you.

First off, let’s discuss why dentist mortgage loans even exist. The reason is that dentists are really profitable clients for lenders. 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 lending them more money with fewer requirements than their competitions.

Dentist Home Mortgage Experts In McAllen Texas

If you are searching for a dentist mortgage in McAllen Texas then you came to the perfect place.

You’ve trained very hard to become a dentist and purchasing home should not be nearly as difficult.

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

A home loan just for dentists?

Yup, dentists get their own loan!

A dentist home loan is a specialty loan program made just for dentists in the home buying process.

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

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

Despite these factors smart lenders know that dentists are a good bet due to the fact that they typically have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

Not all financial institutions offer this specialized product and within banks that do simply talking with the right mortgage officer makes a tremendous difference.

Advantages of Dentist Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Generally does not require private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve a contract as evidence of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

Buying a home 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 funds to put down or are thinking about waiting until you have the funds?

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

In most circumstances, you’ll get your mortgage paid off earlier and save thousands on interest too.

Furthermore, don’t overlook that having equity in your house will offer more security and flexibility, specifically if something unanticipated happens. With the 100% financed dentist home mortgage loan, you ought to anticipate 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.

Regardless of whether you are moving down the street, across town or across the country, we are available to assist you all throughout the dentist home loan process:: because you deserve it!

Dentists, get the home of your dreams with our McAllen Texas dentist home mortgage program!