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JD MORTGAGE® connects you with lenders offering low to no down payment mortgages designed specifically for high-income professionals. We find the lenders that allow jumbo loan balances, relaxed debt-to-income ratios and typically do not require private mortgage insurance (PMI).
Offered exclusively through Biglaw Investor, we make it incredibly simple to find the best mortgage for your home financing needs.
I’m an associate at a firm in Houston and used JD Mortgage thanks to your advice! The experience was great—they were super fast and responsive.” —Mary Kate Raffetto Beck Redden LLP
For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.” —Clint Cowan Lynn Pinker Hurst & Schwegmann
$100M Closed Loans
Arvest Bank, founded in 1961, is a diversified financial services company headquartered in Bentonville, Arkansas, offering a full range of banking, mortgage, investment, and insurance products.
High-income professionals can utilize Arvest Bank's comprehensive financial services, including wealth management, private banking, and investment guidance. The bank offers tailored solutions, like asset management and estate planning, to effectively grow and safeguard their wealth. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 0% | up to $1.25 million |
| 5% | up to $1.75 million |
$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 → ]
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 10% | up to $3 million |
• Online
usually responds within 30 minutes
$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 → ]
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.25 million |
| 10% | up to $2 million |
• Online
usually responds within 30 minutes
$100M Closed Loans
Simmons Bank, founded in 1903 in Arkansas, is a full-service financial institution offering a range of banking products and services in multiple states across the US.
High-income professionals can benefit from Simmons Bank's range of services, including wealth management, private banking, investment services, and financial planning. The bank offers personalized solutions tailored to meet their unique financial needs and goals. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 0% | up to $417,000 |
Known as “The Natural State” due to its stunning natural landscapes, including lush forests, scenic rivers, and majestic mountains, Arkansas is one of the most surprisingly picturesque states in the South. The state also boasts a rich cultural heritage, with charming small towns, historic sites, and vibrant arts and music scenes. Overall, Arkansas offers a blend of natural beauty, cultural richness, and affordability that appeals to many residents and visitors alike.
Thanks to its strong industries, Arkansas is also home to many professionals, including nurses. In fact, according to data from the Bureau of Labor Statistics, Arkansas is home to 33,280 nurses, a list that includes some 290 CRNAs, 29,690 RNs, and 3,300 NPs.
For many of these medical professionals, one of the best aspects of living in Arkansas is its cost of living. Increasingly, however, that does not apply to buying a home, however. According to the FED, the median listing price of a single family home is right around $300,000.
Given the average home price, numerous nurses may encounter challenges in affording a home on their own, especially in sought-after areas or if they have significant existing debt. Nurse mortgages come into play to offer support in such situations.
In Arkansas, nurse mortgages function similarly to traditional mortgages but with added perks tailored specifically for nurses. To qualify for a nurse mortgage, you typically need to meet specific criteria, which may be more accommodating compared to traditional loans. These criteria take into account various factors such as your employment history, income stability, and credit score.
Moreover, certain nurse mortgage programs provide benefits like lower down payments, assistance with closing costs, or unique forgiveness programs designed for nurses serving in particular areas. These programs also facilitate networking opportunities by connecting you with fellow nursing professionals facing similar circumstances. It’s advisable to explore different nurse mortgage options available in Arkansas and engage with lenders to gain insight into their specific requirements and offerings. This way, you can make an informed decision that aligns with your homeownership goals and financial situation.
For many nurse borrowers, the path to home ownership can be challenging because of their financial situations. Many have student loans which bring a high debt-to-income ratio (DTI.) For this reason, conventional loans with regular interest rates may not be the right fit for medical professionals like nurses. A nurse mortgage loan program, however, may allow for different loan amounts, down payment assistance, and other options not available with VA loans, USDA loans, or FHA loans. When a medical professional like a nurse finds a dream home in their target purchase price on the NMLS or with the help of a real estate agent, they can use other programs besides a conventional mortgage.
A nurse mortgage differs from traditional home financing in several ways:
Flexible Eligibility Criteria: Nurse mortgages often have more lenient eligibility requirements compared to traditional loans. Lenders understand nurses’ unique financial situations, such as irregular work schedules and multiple jobs, and may be more accommodating in their approval process.
Specialized Benefits: Nurse mortgages offer tailored benefits specifically for nurses. These may include lower down payment options, assistance with closing costs, or forgiveness programs for nurses working in underserved areas. These perks aim to make homeownership more accessible for nurses.
Recognition of Nursing Income: Traditional lenders may not fully recognize nursing income, such as overtime pay or income from multiple jobs. In contrast, nurse mortgage lenders understand the complexities of nursing income and may be more willing to consider these factors when evaluating loan applications. This is often an upfront issue in underwriting for more conventional loans, but nurse mortgages and physician mortgages usually have different criteria.
Supportive Environment: Nurse mortgage programs often provide a supportive environment for nurses throughout the homebuying process. This may include access to resources and guidance from loan originators who specialize in working with healthcare professionals.
Overall, nurse mortgages are tailored to the unique needs and challenges faced by nurses, offering more flexibility and support compared to traditional home financing options. With your new job, pay attention to loan payments in comparison to your total income. This might be the first time you’ve received a solid paycheck since starting your nursing education,
Like other loans, both experienced and first-time home buyers should do their research about total loan terms such as maximum loan balance, minimum credit score required, total monthly payments for their new home, amount of private mortgage insurance, any penalties for early repayment, to what extend student loan debt influences the loan or mortgage payment, and income history needed. Travel nurses, registered nurses, and LPNs may all likely qualify for a nurse mortgage loan. Each mortgage product is different, and you might want to compare apples to apples when it comes to low down payments, interest rates, and other loan terms.
Do either of these stories sound familiar to you? That may mean that you are the ideal fit for a nurse mortgage in Arkansas:
Ruth, an industrious nurse known for her tireless dedication to her patients, has encountered a significant hurdle on her path to homeownership. Despite her reliable income and steadfast devotion to her career, Ruth finds herself unable to meet the stringent requirements for a mortgage, primarily due to the weight of her substantial student loan debt. Despite her perseverance and steadfast efforts, conventional lenders remain hesitant to extend her the necessary financing, leaving her feeling disheartened and disillusioned.
In the bustling capital of Arkansas, a nurse named Emily has found herself navigating the challenging terrain of the housing market. Eager to plant roots in her community and secure a place to call her own, Emily faces stiff competition and limited options due to the city’s bustling real estate scene. Despite her diligent efforts and stable income as a healthcare professional, Emily has been struggling to gain the necessary leverage to stand out among other buyers vying for coveted properties. Frustrated by the constraints of traditional mortgages, Emily seeks alternative solutions that can provide her with the competitive edge needed to successfully navigate the busy market of Little Rock. She turns to a nurse mortgage, which gives her the leverage she needs without requiring a huge down payment.
If you’re looking to explore the best nurse mortgage in other states, click on your state below.
Find a Nurse Home Loan Specialist
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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