Dentist Home Loan Program In Joliet 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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Regardless if you are a first time home buyer or buying a new home in Joliet Illinois, our vetted loan officers have a strong understanding of the local real estate market and what it takes to secure your dentist home loan with efficiency and expertise.

Our loan officers in Joliet Illinois provide exclusive financing for dentists, like you.

First, let’s talk about why dentist mortgage loans even exist. The reason is that dentists are really 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 a fewer number of stipulations than their competitions.

Dentist Home Mortgage Experts In Joliet Illinois

If you are trying to find a dentist mortgage loan in Joliet Illinois then you came to the perfect place.

You’ve trained very hard to become a dentist and buying home really 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 specifically for dentists?

Yup, dentists get their own mortgage!

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

We recognize the budgetary demands of your student loan financial obligation, and how crucial 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 rely on us to find a mortgage loan that is specially tailored for your needs.

Quite a few dentists in Joliet Illinois may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or little to no work history.

Despite these factors smart lending institutions know that dentists are a good choice considering that they historically have an exceptionally low default rate on loans, high earning potential and stable jobs.

Not all lenders offer this specialized product and within banks that do just simply speaking to the right home loan officer makes a remarkable difference.

Benefits of Dentist Mortgage Loans

  • Generally 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 necessitate private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve an agreement as documentation of future earnings, in lieu of pay stubs or W-2s, which 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 Money Down?

Suppose you have some funds 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 circumstance looks like and the benefits of each too.

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

Furthermore, don’t overlook that having equity in your home will most likely offer more security and overall flexibility, especially if something unplanned happens. With the 100% financed dentist mortgage loan, you ought to anticipate to begin under water. 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 just to get out of the home.

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

Dentists, get the home of your dreams with our Joliet Illinois dentist home mortgage program!