Home Mortgage For Dentists Worcester 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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Regardless if our clients are a first time home buyer or buying a new home in Worcester Massachusetts, our vetted loan officers have a strong understanding of the local real estate industry and what it really takes to close your dentist home mortgage with efficiency and know-how.

Our loan officers in Worcester Massachusetts offer exclusive financing for dentists, just like you.

First, let’s discuss why dentist mortgage loans even exist. The reason is that dentists are extremely profitable clients 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 fewer stipulations than their competitions.

Dentist Home Mortgage Experts In Worcester Massachusetts

If you are trying to find a dentist mortgage loan in Worcester Massachusetts then you came to the right place.

You’ve trained very hard to become a dentist and purchasing home really 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 mortgage!

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

We understand the economic demands of your student loan debt, and how important it is to preserve working capital for when the time is right with embarking upon your dental career. Whether you are a couple years into practice, or a well established dentist, you can count on us to find a mortgage loan that is specially tailored for your needs.

Quite a few dentists in Worcester Massachusetts 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 reasons smart loan providers know that dentists are a good choice considering that they historically have an incredibly low nonpayment rate on loans, high earning potential and secure jobs.

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

Advantages of Dentist Home Mortgage Loans

  • Typically does not include student loan monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Usually does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve a contract as evidence of future earnings, in lieu 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 need 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 money?

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

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

Additionally, don’t forget that having equity in your home will offer more security and flexibility, especially if something unanticipated happens. With the 100% financed dentist mortgage loan, you ought to expect to begin underwater. If something does not work out and you’re forced to sell quickly, you need to be prepared to write a potentially sizable check for up to 10% of the purchase price simply to get out of the home.

Whether you are relocating down the road, across town or across the country, we are right here to help you all throughout the dentist home loan process:: because you deserve it!

Dentists, get the house of your dreams with our Worcester Massachusetts dentist home mortgage program!