Dentist Home Loan Novi Michigan

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 Novi Michigan, our vetted loan officers have a strong understanding of the local real estate industry and what it really requires to secure your dentist mortgage with competency and know-how.

Our loan officers in Novi Michigan provide specialized 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 really 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 terms than their competitors.

Dentist Home Loan Experts In Novi Michigan

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

You’ve trained very hard to become a dentist and purchasing home shouldn’t 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 loan!

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

We recognize the personal financial 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. Regardless if you are a couple years into practice, or a well established dentist, you can count on us to find a home loan that is exclusively tailored for your needs.

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

Despite these reasons 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 financial institutions offer this specialized product and within banks that do simply talking to the best mortgage loan officer makes a significant difference.

Benefits of Dentist Home Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Generally does not call for private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve an agreement as evidence of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

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

Should You Put Cash Down?

Suppose you have some cash to put down or are thinking about delaying until you have the cash?

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

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

Furthermore, don’t overlook that having equity in your house will likely offer more security and overall flexibility, particularly if something unexpected happens. With the 100% financed dentist mortgage loan, you should expect to begin under water. If something does not 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 house.

Whether you’re moving down the street, across town or across the country, we are available to lend a hand you throughout the dentist home mortgage process:: because you deserve it!

Dentists, get the house of your dreams with our Novi Michigan dentist home loan program!