Dentist Home Loan Newark New Jersey

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 purchasing a new home in Newark New Jersey, our vetted loan officers have a solid understanding of the local area real estate industry and what it requires to close your dentist home mortgage with efficiency and expertise.

Our loan officers in Newark New Jersey provide specialized financing for dentists, like you.

To start with, let’s discuss why dentist mortgage loans even exist. The main 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 secure early career dentists by loaning them more money with far fewer terms than their competitors.

Dentist Home Mortgage Experts In Newark New Jersey

If you are trying to find a dentist home loan in Newark New Jersey then you came to the perfect place.

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

Yup, dentists get their own loan!

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

We recognize the budgetary demands of your student loan financial debt, and how vital it is to preserve working capital for when the time is right with starting 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 home loan that is exclusively tailored for your needs.

Many dental professionals in Newark New Jersey may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or very little to no work history.

Despite these reasons smart lenders know that dentists are a good bet considering that they typically have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banking institutions that do simply talking to the best home loan officer makes an enormous difference.

Advantages of Dentist Mortgage Loans

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

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

Should You Put Money Down?

Suppose you have some money to put down or are considering delaying until you have the funds?

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

In most situations, 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 house will most likely provide more security and overall flexibility, especially if something unanticipated happens. With the 100% financed dentist mortgage loan, you ought to expect to start out under water. 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 up to 10% of the purchase price just to get out of the home.

Regardless of whether you are moving down the street, across town or across the country, we are here to help you through the dentist home loan process:: because you deserve it!

Dentists, get the house of your dreams with our Newark New Jersey dentist home mortgage program!