Dentist Home Loan Program In Royal Oak 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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Whether or not our clients are a first time home buyer or buying a new home in Royal Oak Michigan, our vetted loan officers have a strong understanding of the local area real estate industry and what it really takes to close your dentist home loan with competency and know-how.

Our loan officers in Royal Oak Michigan provide exclusive financing for dentists, just like you.

First and foremost, let’s talk about why dentist mortgage loans even exist. The 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 lending them more money with a fewer number of stipulations than their competitors.

Dentist Home Loan Experts In Royal Oak Michigan

If you are trying to find a dentist mortgage loan in Royal Oak Michigan then you came to the perfect place.

You’ve worked very hard to become a dentist and buying home should not 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 loan!

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

We understand the personal financial demands of your student loan debt, and how important it is to preserve working capital for when the time is right with launching 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 mortgage loan that is specifically tailored for your needs.

Many dental professionals in Royal Oak Michigan 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 reasons smart lending institutions know that dentists are a good bet considering that they traditionally have an exceptionally low nonpayment rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banks that do just simply speaking with the best home loan officer makes an enormous difference.

Benefits of Dentist Mortgage Loans

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

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

Should You Put Cash Down?

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

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 instances, you’ll get your mortgage paid off earlier and save thousands on interest too.

Furthermore, don’t overlook that having equity in your home will likely provide greater security and overall flexibility, particularly if something unplanned happens. With the 100% financed dentist mortgage loan, you ought to expect to begin underwater. If something does not work out and you’re forced to sell quickly, you need to be prepared to write a potentially large check for as much as 10% of the purchase price just to get out of the home.

Regardless of whether you are moving down the road, across town or across the country, we are right here to help you all throughout the dentist home loan process:: because you deserve it!

Dentists, get the house of your dreams with our Royal Oak Michigan dentist home mortgage program!