Dentist Mortgage In Norwich Connecticut

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 our clients are a first time home buyer or buying a new home in Norwich Connecticut, our vetted loan officers have a solid understanding of the local real estate industry and what it requires to close your dentist home mortgage with competency and expertise.

Our loan officers in Norwich Connecticut offer special financing for dentists, just like you.

First and foremost, let’s discuss why dentist mortgage loans even exist. The main reason is that dentists are very profitable clients for lenders. 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 a fewer number of stipulations than their competitions.

Dentist Mortgage Experts In Norwich Connecticut

If you are trying to find a dentist mortgage loan in Norwich Connecticut 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 specifically for dentists?

Yup, dentists get their own home loan!

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

We are aware of the budgetary demands of your student loan financial obligation, and how important 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 specially tailored for your needs.

A lot of dental professionals in Norwich Connecticut may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan financial debt or minimal to no work history.

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

Not all banks offer this specialized product and within banks that do simply speaking with the best mortgage officer makes a significant difference.

Advantages of Dentist Home Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Usually does not necessitate 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.

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

Should You Put Money Down?

What if you have some money to put down or are looking at waiting until you have the money?

Our lenders can do the math for you and show you what each situation looks like and the advantages of each too.

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

Additionally, don’t forget that having equity in your house will likely offer more security and overall flexibility, especially if something unplanned happens. With the 100% financed dentist mortgage loan, you ought to anticipate to start out underwater. If something doesn’t work out and you are forced to sell quickly, you should be prepared to write a potentially large check for as much as 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 lend a hand you all throughout the dentist home loan process:: because you deserve it!

Dentists, get the home of your dreams with our Norwich Connecticut dentist home mortgage program!