Dentist Home Loan South Dakota

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 purchasing a new home in South Dakota, our vetted loan officers have a strong understanding of the local real estate industry and what it really takes to close your dentist mortgage with efficiency and expertise.

Our loan officers in South Dakota provide special financing for dentists, just like you.

First, let’s talk about why dentist mortgage loans even exist. The reason is that dentists are extremely profitable customers for lenders. 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 lending them more money with a lot fewer stipulations than their competition.

Dentist Mortgage Professionals In South Dakota

If you are trying to find a dentist mortgage loan in South Dakota 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 specifically for dentists?

Yup, dentists get their own home loan!

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

We are aware of 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 starting your dental career. Whether or not you are a couple years into practice, or a well established dentist, you can count on us to find a mortgage loan that is specially tailored for your needs.

Many dental professionals in South Dakota may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial obligation or very little to no work history.

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

Not all lenders offer this specialized product and within banking institutions that do just simply talking to the right mortgage officer makes a remarkable difference.

Advantages of Dentist Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income percentage.
  • Typically requires very low to no down payment (0-5 percent).
  • Generally does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Generally will approve a contract as proof of future earnings, instead of pay stubs or W-2s, which don’t yet exist.

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

Should You Put Cash Down?

Suppose you have some money to put down or are considering waiting until you have the funds?

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 situations, you’ll get your home mortgage paid off sooner and save thousands of dollars on interest too.

Furthermore, don’t forget that having equity in your house will likely offer greater security and flexibility, specifically if something unplanned happens. With the 100% financed dentist home mortgage loan, you should expect to start out under water. If something doesn’t work out and you are forced to sell quickly, you need to be prepared to write a potentially sizable check for as much as 10% of the purchase price simply to get out of the home.

Whether you are moving down the street, across town or across the country, we are available to assist you throughout the dentist home loan process:: because you deserve it!

Dentists, get the house of your dreams with our South Dakota dentist home mortgage program!

Top cities in South Dakota for a dentist home loan.