Dentist Home Loan Program In St. Louis Park Minnesota

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 purchasing a new home in St. Louis Park Minnesota, our vetted loan officers have a strong understanding of the local area real estate industry and what it requires to secure your dentist home mortgage with efficiency and expertise.

Our loan officers in St. Louis Park Minnesota offer special financing for dentists, just like you.

First, let’s talk about why dentist mortgage loans even exist. The reason is that dentists are extremely 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 a fewer number of requirements than their competitions.

Dentist Mortgage Experts In St. Louis Park Minnesota

If you are looking for a dentist mortgage in St. Louis Park Minnesota then you came to the perfect place.

You’ve worked very hard to become a dentist and purchasing home 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 specifically for dentists?

Yup, dentists get their own mortgage!

A dentist home loan is a specialized loan program put together just for dentists in the home purchasing process.

We understand the financial demands of your student loan debt, and how vital it is to preserve working capital for when the time is right with launching your dental career. Regardless 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 specially tailored for your needs.

Quite a few dentists in St. Louis Park Minnesota may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or minimal to no work history.

Despite these factors smart loan providers know that dentists are a good bet considering that they traditionally have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banks that do just simply talking to the right mortgage loan officer makes an enormous difference.

Advantages of Dentist Mortgage Loans

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

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

Should You Put Money Down?

What if you have some money to put down or are considering delaying until you have the cash?

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

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

Furthermore, don’t overlook that having equity in your home will most likely provide greater security and flexibility, particularly if something unforeseen happens. With the 100% financed dentist home mortgage loan, you should expect to start out under water. If something does not work out and you are forced to sell quickly, you should be prepared to write a potentially sizable check for as much as 10% of the purchase price just to get out of the house.

No matter if you are moving down the street, across town or across the country, we are available to assist you throughout the dentist home loan process:: because you deserve it!

Dentists, get the home of your dreams with our St. Louis Park Minnesota dentist home loan program!