Home Mortgage For Dentists In Aurora Illinois

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 Aurora Illinois, our vetted loan officers have a solid understanding of the local real estate industry and what it really takes to close your dentist mortgage with proficiency and expertise.

Our loan officers in Aurora Illinois offer special financing for dentists, like you.

First and foremost, let’s talk about 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 secure early career dentists by loaning them more money with far fewer terms than their competitors.

Dentist Home Mortgage Experts In Aurora Illinois

If you are searching for a dentist mortgage loan in Aurora Illinois then you came to the perfect place.

You’ve trained very hard to become a dentist and purchasing home really should not 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 only for dentists?

Yup, dentists get their own loan!

A dentist home loan is a special loan program designed just for dentists in the home buying process.

We recognize the economic demands of your student loan liability, and how crucial 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 rely on us to find a mortgage loan that is exclusively tailored for your needs.

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

Despite these reasons smart loan providers know that dentists are a good choice because they historically have an incredibly low nonpayment rate on loans, high earning potential and stable jobs.

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

Benefits of Dentist Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires low to no down payment (0-5 percent).
  • Often does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve an agreement as evidence of future earnings, in lieu of pay stubs or W-2s, that don’t yet exist.

Purchasing a house doesn’t need to drain your savings and the process doesn’t need to drain your time.

Should You Put Cash Down?

What if you have some funds to put down or are thinking about delaying until you have the funds?

Our loan providers can do the math for you and show you what each circumstance looks like and the advantages of each too.

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

Additionally, don’t forget that having equity in your home will likely provide greater security and overall flexibility, particularly if something unexpected happens. With the 100% financed dentist mortgage loan, you ought to expect to start out underwater. If something does not work out and you are forced to sell quickly, you should be prepared to write a potentially big check for as much as 10% of the purchase price just to get out of the home.

No matter if you’re moving down the street, across town or across the country, we are available to lend a hand you through the dentist home loan process:: because you deserve it!

Dentists, get the home of your dreams with our Aurora Illinois dentist home mortgage program!