Nurse Mortgages in Arizona


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First Citizens

(AZ, CA, CO, FL, GA, KS, MD, MO, NC, NE, NM, NV, OK, OR, SC, TN, TX, VA, WA, WI, WV)

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Online

usually responds within 30 minutes

First Citizens

(AZ, CA, CO, FL, GA, KS, MD, MO, NC, NE, NM, NV, OK, OR, SC, TN, TX, VA, WA, WI, WV)

$100M Closed Loans

First Citizens, founded in 1898, is a full-service commercial bank with over 500 branches, offering a wide range of retail and corporate financial services.

High-income professionals can benefit from First Citizens' services, including wealth management, private banking, and insurance. Their offerings also comprise personalized financial planning, customized credit solutions, and estate planning. They provide tailored strategies to optimize financial growth and security. [ Read Review → ]

  • Minimum credit score: 680
  • Maximum loan: $2,000,000
Down payment Financing
0%up to $1 million
5%up to $1.25 million
10%up to $1.5 million
20%up to $2 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • OD
  • CRNA
  • NP
  • PA
  • DC
  • DVM
  • PharmD
  • JD
  • CPA
  • PhD
  • RN

First Western Trust

(AZ, CA, CO, MT, WY)

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Online

usually responds within 30 minutes

First Western Trust

(AZ, CA, CO, MT, WY)

$100M Closed Loans

First Western Trust, founded in 2004, is a private bank and wealth management company, providing a comprehensive suite of financial services across the Western U.S.

High-income professionals can utilize First Western Trust's services for comprehensive wealth planning and management. Offerings include investment consulting, private banking, trust and estate planning, and retirement planning. Tailored strategies are designed to optimize financial growth and security. [ Read Review → ]

  • Minimum credit score: 720
  • Maximum loan: $1,500,000
Down payment Financing
0%up to $850,000
5%up to $1 million
10%up to $1.5 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DVM
  • CRNA
  • DPM
  • OD
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

Flagstar

(All 50 States Except NY)

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Online

usually responds within 30 minutes

Flagstar

(All 50 States Except NY)

$100M Closed Loans

Flagstar, founded in 1987, is a leading national bank headquartered in Michigan, offering a broad range of banking, mortgage, and lending operations.

High-income professionals can utilize Flagstar's wealth management services for their financial planning needs. These services include personalized investment strategies, retirement planning, estate planning, and trust services. Additionally, Flagstar offers private banking solutions such as tailored loans and exclusive credit options. [ Read Review → ]

  • Minimum credit score: 680
  • Maximum loan: $3,000,000
Down payment Financing
0%up to $1 million
5%up to $1.5 million
10%up to $3 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • CPA
  • RN
  • DC
  • PhD

GreenState Credit Union

(All 50 States Except CA)

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Online

usually responds within 30 minutes

GreenState Credit Union

(All 50 States Except CA)

$100M Closed Loans

GreenState Credit Union, founded in 1938, is a member-owned financial cooperative providing diverse banking services to more than 350,000 members across the United States.

High-income professionals can take advantage of a variety of services from GreenState Credit Union. These include exclusive checking and savings accounts with competitive interest rates, extensive loan options, wealth management and investment services, retirement planning, and insurance services, all designed to optimize their financial growth and security. [ Read Review → ]

  • Minimum credit score: Not reported
  • Maximum loan: $2,000,000
Down payment Financing
0%up to $1 million
5%up to $1.25 million
10%up to $2 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • PharmD
  • NP
  • PA
  • CRNA
  • JD
  • DC
  • CPA
  • PhD
  • RN

Notre Dame Federal Credit Union

(AZ, IN)

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Online

usually responds within 30 minutes

Notre Dame Federal Credit Union

(AZ, IN)

$100M Closed Loans

Notre Dame Federal Credit Union, founded in 1941, is a member-owned, not-for-profit financial cooperative serving the Notre Dame community with diversified banking services.

High-income professionals can take advantage of Notre Dame Federal Credit Union's services which include exclusive checking accounts, high-yield savings, wealth management, mortgage solutions, and personal loans. Comprehensive insurance plans and specialized financial advice are also offered to cater to their unique financial needs and goals. [ Read Review → ]

  • Minimum credit score: 700
  • Maximum loan: $900,000
Down payment Financing
0%up to $900,000
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • CRNA
  • NP
  • JD
  • RN
  • DPM
  • DVM
  • OD
  • PharmD
  • PA
  • DC
  • CPA
  • PhD

Shoreham Bank

(AZ, CA, CO, FL, IA, ID, IL, MI, NV, RI, TN, UT)

Match Banks Contact Send Email

Online

usually responds within 30 minutes

Shoreham Bank

(AZ, CA, CO, FL, IA, ID, IL, MI, NV, RI, TN, UT)

$100M Closed Loans

Shoreham Bank, founded in 1860, is a reputable financial institution offering a comprehensive range of banking services including loans, savings, and online banking.

High-income professionals can take advantage of various services from Shoreham Bank. These include specialized checking and savings accounts, tailored investment advice, estate planning, and personalized loan options. The bank also offers a private banking service, providing dedicated financial advisors for comprehensive wealth management. [ Read Review → ]

  • Minimum credit score: 700
  • Maximum loan: $2,000,000
Down payment Financing
0%up to $1 million
5%up to $1.25 million
10%up to $1.5 million
15%up to $2 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • DC
  • JD
  • CPA
  • PhD
  • RN

Key Terms

  • Arizona nurse mortgages cater specifically to nurses, offering lower down payments and flexible eligibility that can make homeownership more accessible amidst rising home prices.
  • Potential drawbacks include possible higher interest rates and lower loan limits, which could limit purchasing power in high-cost areas like Phoenix.
  • Nurses must carefully consider long-term financial impacts of nurse mortgages, balancing the initial benefits against overall affordability and loan terms.

With over 300 days of sunshine every year, Arizona offers its residents a pleasant climate and plenty of opportunities for outdoor activities. When you add in factors such as the stunning Grand Canyon, the Sonoran Desert and a vibrant cultural scene, it’s no wonder Arizona is a popular place to live. 

Generally speaking, Arizona offers a relatively affordable cost of living compared to many other states, making it an attractive option for those seeking a balance between affordability and quality of life. It also has a growing economy and plenty of job opportunities, particularly in sectors like healthcare, attracting doctors and nurses alike. In fact, according to data from the Bureau of Labor Statistics, Arizona is home to 69,920 nurses,  a list that includes some Error: Data not found. CRNAs, 63,150 RNs, and 6,770 NPs.

While the cost of living in the Grand Canyon State is appealing, home prices are going up, especially in populous areas like Phoenix. According to the FED, the median listing price of a single family home in the state is $511,473. 

Given housing prices in Arizona, certain nurses might face challenges in purchasing a home independently, particularly in urban and suburban regions such as those around Phoenix or Tempe, or if they carry substantial student debt. In such cases, nurses can turn to nurse mortgages for assistance.

The pros and cons of Arizona nurse mortgages

Considering an Arizona nurse mortgage? Here’s what you need to know about the upsides and downsides. On the positive side, nurse mortgages offer tailored benefits for nurses, making homeownership more accessible. They often come with flexible eligibility criteria, accommodating factors like irregular work schedules or high student loan debt common among nurses. Additionally, nurse mortgage programs may feature “pros” such as lower down payments, assistance with closing costs, or forgiveness programs for those working in certain areas, making it easier for nurses to achieve their homeownership goals.

However, there are some potential cons to watch for. Despite the benefits, nurse mortgages may have limitations, such as lower borrowing limits or higher interest rates compared to traditional mortgages. Additionally, not all lenders offer nurse mortgage programs, limiting the options available to nurses. Furthermore, while nurse mortgages may provide assistance with upfront costs, nurses should carefully evaluate their long-term financial implications, considering factors like monthly payments and overall affordability.

Ultimately, whether a nurse mortgage is the right choice depends on your individual circumstances and financial goals.Weigh the pros and cons carefully, comparing nurse mortgage options with traditional mortgages to determine the best fit!

Is an Arizona nurse mortgage right for me?

Feeling unsure about diving into the world of nurse mortgages in Arizona? No worries! Let’s break it down into a few simple steps to help you figure things out. First up, get a handle on your financial situation. Take a look at your income, savings, debts, and credit score to see how buying a home fits into your big picture plans. Once you’ve got that sorted, it’s time to do some detective work on nurse mortgage programs in Arizona. Check out what they offer, from eligibility criteria to those sweet perks tailored just for nurses.

Now that you’ve done your homework on nurse mortgages, let’s compare them to traditional options. Take a peek at things like down payment requirements, interest rates, and those sneaky closing costs. And don’t hesitate to chat with lenders who specialize in nurse mortgages. They’ve got the scoop on all the benefits and can help you navigate your options. 

After weighing all your options, it’s time to make the call. Take a good look at the pros and cons of nurse mortgages we listed above to see which aligns best with your goals and budget in Arizona. With a little research and some thoughtful consideration, you’ll be ready to make an informed decision about whether a nurse mortgage is the perfect fit for you.

Borrowers who are also healthcare professionals may struggle with traditional mortgage lenders such as those helping with USDA loans, VA loans, or FHA loans. Each of these lenders who offer alternatives to conventional loans will have their own requirements, such as max purchase price, minimum credit score, requirement of private mortgage insurance (PMI), debt-to-income ratio (DTI) , opportunities to refinance, disclosures, and rates. Whether you’re a first-time homebuyer or not, knowing what programs you could qualify for may help you obtain a mortgage loan at your ideal loan amount. Underwriting may look similar to conventional loans, but the loan officer can give you more ideas about processing time and expectations. A realtor can also assist in the process of coming up with a list of primary residence options from the NMLS.

Carefully review all the eligibility requirements with any home loans for nurses, as the qualifying rules may vary from one to another, and also may be different from Federal Housing Administration/FHA loans, USDA loans, Fannie Mae/Freddie Mac associated loans, or Department of Veterans Affairs/VA loans. A nurse home loan program, for example, may offer down payment assistance programs for medical professionals, different credit score requirements, or other loan options. Certain states also have a nurse next door program to help travel nurses, registered nurses, LPNs, and other professionals get a primary residence in their new location. The type of loan and fixed rate may vary based on your credit score, location, and current market trends. A home buying program made just for medical professionals could be the gateway to your new home.

Examples of nurses who take out nurse mortgages in Arizona

Do these situations below hit close to home for you? If they do, then you might just be the perfect fit for a nurse mortgage in Arizona:

Anna grew up in Tuba City and, as a member of Navajo Nation, is particularly proud to be working at Tuba City Regional Hospital. Buying a home hasn’t been easy, however, despite her decent income— hefty student loan debt stands in the way, making it tough to meet the strict criteria of conventional mortgages. Despite her persistence, traditional lenders aren’t too keen on extending the necessary financing, leaving Anna feeling disheartened. Luckily, a nurse mortgage steps in, acknowledging her student debt and throwing in some extra perks for her service in Tuba City. 

Then there’s Anastasia, navigating the bustling (and pricey!) real estate landscape of Phoenix. With a keen desire to lay down roots and carve out her own space, Anastasia finds herself boxed in by the limited options in the city’s vibrant housing market. She only wants a cute stucco– she’s not asking for much! Despite her steady income, standing out among the throngs of buyers clamoring for prime properties proves to be a challenge. Fed up with the constraints of traditional mortgages, Anastasia seeks out an alternative path. Enter the nurse mortgage, offering her the leverage she needs to compete in Phoenix’s cutthroat market without having to cough up a hefty down payment. That little stucco bungalow is finally within reach. 

Looking for a nurse mortgage in a different state?

If you’re looking to explore the best nurse mortgage in other states, click on your state below.

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Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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