Dentist Mortgage In Bloomington 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 if you are a first time home buyer or buying a new home in Bloomington Minnesota, our vetted loan officers have a strong understanding of the local area real estate industry and what it really takes to secure your dentist home mortgage with efficiency and know-how.

Our loan officers in Bloomington Minnesota provide exclusive financing for dentists, like you.

First off, let’s talk about why dentist mortgage loans even exist. The main reason is that dentists are very 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 secure early career dentists by lending them more money with fewer stipulations than their competitions.

Dentist Home Loan Experts In Bloomington Minnesota

If you are looking for a dentist mortgage loan in Bloomington Minnesota then you came to the right place.

You’ve trained very hard to become a dentist and buying 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 home loan!

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

We are aware of the budgetary demands of your student loan liability, and how essential it is to preserve working capital for when the time is right with starting 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 mortgage loan that is exclusively tailored for your needs.

Quite a few dental experts in Bloomington Minnesota may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial debt or little to no work history.

Despite these factors smart financial institutions know that dentists are a good bet due to the fact that they typically have an extremely low default rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banking institutions that do just simply talking to the right mortgage loan officer makes a significant difference.

Advantages of Dentist Home Mortgage Loans

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

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

Should You Put Cash Down?

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

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

In most cases, you’ll get your home loan paid off sooner and save thousands of dollars on interest too.

Additionally, don’t forget that having equity in your home will offer greater security and overall flexibility, particularly if something unforeseen happens. With the 100% financed dentist home mortgage loan, you should expect 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 large check for as much as 10% of the purchase price simply to get out of the home.

Whether you are moving down the road, across town or across the country, we are here to work with you throughout the dentist home loan process:: because you deserve it!

Dentists, get the home of your dreams with our Bloomington Minnesota dentist home mortgage program!