Dentist Home Loan In Somerville Massachusetts

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 or not you are a first time home buyer or buying a new home in Somerville Massachusetts, our vetted loan officers have a strong understanding of the local real estate industry and what it really takes to secure your dentist home loan with proficiency and know-how.

Our loan officers in Somerville Massachusetts provide exclusive financing for dentists, just like you.

First off, let’s talk about why dentist mortgage loans even exist. The main reason is that dentists are extremely profitable customers 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 far fewer stipulations than their competitors.

Dentist Mortgage Experts In Somerville Massachusetts

If you are looking for a dentist home loan in Somerville Massachusetts then you came to the perfect place.

You’ve worked very hard to become a dentist and purchasing home shouldn’t 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 only for dentists?

Yup, dentists get their own loan!

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

We understand the economic demands of your student loan financial debt, and how essential it is to preserve 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 depend on us to find a mortgage loan that is specially tailored for your needs.

A lot of dental professionals in Somerville Massachusetts 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 factors smart lending institutions know that dentists are a good bet because they typically have an incredibly low default rate on loans, high earning potential and stable jobs.

Not all banks offer this specialized product and within banking institutions that do just simply speaking with the best mortgage loan officer makes an enormous difference.

Benefits of Dentist Mortgage Loans

  • Usually does not include student loan monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Generally does not necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will accept a contract as proof of future earnings, in lieu of pay stubs or W-2s, that 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 Cash Down?

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

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

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

Additionally, don’t overlook that having equity in your home will provide more security and overall flexibility, particularly if something unplanned 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 sizable check for as much as 10% of the purchase price just to get out of the home.

Regardless of whether you are relocating down the road, across town or across the country, we are available to lend a hand you throughout the dentist home loan process:: because you deserve it!

Dentists, get the home of your dreams with our Somerville Massachusetts dentist home loan program!