Application Tips

The way you complete your application for cosmetic dental financing can affect your chances of being approved. Follow these simple tips to stack the cards in your favor!

Include the individual sharing joint accounts

The debt to income ratio among your credit score is one of the most important factors used when underwriting your loan application. If you share any accounts with your Spouse, Parents, or any other person, it would be advisable to add them on your application as a co-applicant. Our underwriters look to see if applicants can afford to make a loan payment and if the income alone is not sufficient a co-signer will be required. Including your co-applicant on the application will save you the time of having to reapply, give you quicker loan results and allow you to be approved for better interest rates.

Make answers count in your favor

Be sure to include all sources of income, not just your pay, in the gross income field. This might include spouse income, secondary job income, rental income, child support, social security/retirement, or money from a trust.

List only the required minimum payments on your debts, even if you pay more. When payments, like rent, are shared, include only your portion of the payment.

Include your desired procedure and Dentist info

If you do not have a Dentist of choice, our provider relations specialists will provide you a free consultation to meet with the best qualified Dentist for your procedures and best value price in your region. If you already have a chosen Dentist, include the following information to assist us in getting your application expedited:

  • Dentist name
  • Practice name
  • Office Contact person
  • Telephone number
  • Fax number

It is also important to have the dollar amount of your procedures on your loan application. If you already know the total amount of your procedures, please include it on your application. If you do not have a quoted price then we will temporally consider the industry average price of your procedures as the dollar amount requested.

Do not apply to other lending institutions

Many credit scoring models take into consideration how many times you have applied for financing in a short period of time. To protect the lenders, some credit scoring companies lower your credit score with each inquiry. So people who apply and get declined and then apply again hurt their chances of getting financing with each time they apply.

Credit scoring companies like TransUnion Experian and Equifax don't want you to be able to borrow more than you can afford to pay back, so they assume each inquiry will be approved and drop your score a small amount.

DentalLoans.com has the broadest range of loan options to allow all applicants the highest prospect for loan approval possible. Additionally, we offer the broadest interest rates to allow all applicants loan options. Please allow us to respond back to your application. If you are not initially approved, our consultants will assist you on what steps to take to get approved.

If DentalLoans.com cannot get you approved then your chances with any other company are slim to null. We guarantee it!

Fill out the loan application completely

There's nothing more important than answering all the questions. When you fill-out your application, answer every question and complete all the fields. Leaving blank fields may cause delay in your application results and submitting a partial application may hurt your chances. Additionally, if you have a spouse be sure to include your spouse's income on your application.

The right relationships matter

While dependent information and marital status are not required, it is a good idea to complete these fields. If you are a woman and recently married, be sure to hyphenate your last name so that at least one last name matches your credit report.

Use your current address, not a PO Box

If you have not been at your present address for more than 3 years, you may be asked to provide a previous address over the phone after submitting your initial application. Make sure to use the address that will show on your credit report even if that address is not used for mail. Avoid using a PO Box!