Home Mortgage For Dentists Evanston Illinois

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 you are a first time home buyer or buying a new home in Evanston Illinois, our vetted loan officers have a solid understanding of the local real estate market and what it takes to close your dentist home mortgage with proficiency and expertise.

Our loan officers in Evanston Illinois offer exclusive financing for dentists, like you.

First and foremost, let’s talk about why dentist mortgage loans even exist. The main reason is that dentists are very profitable customers for financial 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 competitions.

Dentist Home Mortgage Experts In Evanston Illinois

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

You’ve worked 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 home loan!

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

We recognize the financial demands of your student loan liability, and how important 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 depend on us to find a mortgage loan that is specifically tailored for your needs.

A large number of dentists in Evanston Illinois may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or little to no work history.

Despite these factors smart lenders know that dentists are a good choice due to the fact that they generally have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

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

Benefits of Dentist Home Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Often 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 house doesn’t need 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 money?

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

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

Furthermore, don’t forget that having equity in your home will most likely provide more security and overall flexibility, particularly if something unplanned happens. With the 100% financed dentist mortgage loan, you ought to expect to start out underwater. If something does not work out and you’re forced to sell quickly, you should be prepared to write a potentially big check for up to 10% of the purchase price simply 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 all throughout the dentist home mortgage process:: because you deserve it!

Dentists, get the home of your dreams with our Evanston Illinois dentist home loan program!