Home Mortgage For Dentists In Grand Rapids Michigan

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 if our clients are a first time home buyer or purchasing a new home in Grand Rapids Michigan, our vetted loan officers have a solid understanding of the local area real estate market and what it takes to secure your dentist mortgage with competency and expertise.

Our loan officers in Grand Rapids Michigan provide exclusive financing for dentists, exactly like you.

First off, let’s discuss why dentist mortgage loans even exist. The main reason is that dentists are extremely profitable clients for financial institutions. 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 Mortgage Experts In Grand Rapids Michigan

If you are looking for a dentist home loan in Grand Rapids Michigan then you came to the perfect place.

You’ve trained very hard to become a dentist and buying 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 only for dentists?

Yup, dentists get their own loan!

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

We recognize the budgetary demands of your student loan financial obligation, and how crucial it is to maintain working capital for when the time is right with embarking upon your dental career. Whether or not you are a couple years into practice, or a well established dentist, you can count on us to find a home loan that is exclusively tailored for your needs.

A large number of dental experts in Grand Rapids Michigan may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or very little to no work history.

Despite these reasons smart lenders know that dentists are a good bet due to the fact that they historically have an exceptionally low default rate on loans, high earning potential and stable jobs.

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

Advantages of Dentist Mortgage Loans

  • Typically does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Often does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve a contract as proof of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

Purchasing a home doesn’t have to empty your savings and the process doesn’t have to drain your time.

Should You Put Cash Down?

What if you have some funds 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 circumstances, you’ll get your home mortgage paid off sooner and save thousands on interest rates too.

Additionally, don’t overlook that having equity in your home will offer greater security and flexibility, especially if something unforeseen happens. With the 100% financed dentist mortgage loan, you ought to anticipate to begin under water. If something doesn’t work out and you’re forced to sell quickly, you should be prepared to write a potentially big check for as much as 10% of the purchase price simply to get out of the home.

No matter if you’re relocating down the road, 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 house of your dreams with our Grand Rapids Michigan dentist home mortgage program!