Dentist Mortgage Southfield 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 of whether our clients are a first time home buyer or purchasing a new home in Southfield Michigan, our vetted loan officers have a strong understanding of the local area real estate industry and what it requires to secure your dentist home mortgage with proficiency and expertise.

Our loan officers in Southfield Michigan provide specialized financing for dentists, just like you.

First and foremost, let’s talk about why dentist mortgage loans even exist. The main 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 loaning them more money with fewer requirements than their competitions.

Dentist Home Loan Experts In Southfield Michigan

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

You’ve worked 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 mortgage is a specialized loan program put together just for dentists in the home purchasing process.

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

Quite a few dental professionals in Southfield Michigan may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or little to no work history.

Despite these factors smart lending institutions know that dentists are a good choice because they traditionally have an exceptionally low nonpayment rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do simply talking with the right home loan officer makes a remarkable difference.

Advantages of Dentist Mortgage Loans

  • Generally does not include student loan monthly payments in debt-to-income ratio.
  • Requires very low to no down payment (0-5 percent).
  • Typically does not require private mortgage insurance (PMI), even if lower than 20 percent down payment.
  • Will approve a contract as proof of future earnings, instead 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 have to drain your time.

Should You Put Money Down?

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

Our lenders can do the math for you and show you what each scenario 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 rates too.

Additionally, don’t forget that having equity in your home will likely offer greater security and overall flexibility, especially if something unplanned happens. With the 100% financed dentist mortgage loan, you should anticipate to start out underwater. If something doesn’t work out and you are 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 relocating down the road, across town or across the country, we are here to work with you through the dentist home loan process:: because you deserve it!

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