Nurse Mortgages in Delaware


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First National Bank of Pennsylvania

(DC, DE, FL, GA, MD, NC, NJ, OH, PA, SC, TN, VA, WV)

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usually responds within 30 minutes

First National Bank of Pennsylvania

(DC, DE, FL, GA, MD, NC, NJ, OH, PA, SC, TN, VA, WV)

$100M Closed Loans

First National Bank of Pennsylvania, established in 1864, is a full-service financial institution offering commercial banking services across multiple states.

High-income professionals can benefit from First National Bank of Pennsylvania's tailored services, including wealth management, financial planning, private banking, and investment services. Furthermore, FNB offers business banking solutions and personalized lending options aimed at optimizing their financial growth and stability. [ Read Review → ]

  • Minimum credit score: 700
  • Maximum loan: $2,000,000
Down payment Financing
0%up to $1.25 million
5%up to $1.5 million
10%up to $2 million
20%up to $2 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DVM
  • CRNA
  • JD
  • DPM
  • OD
  • PharmD
  • NP
  • PA
  • 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

Key Terms

  • Delaware nurse mortgages offer significant advantages such as lower down payments and simplified approval criteria, specifically designed to accommodate nurses’ financial situations.
  • These loans often include additional support like help with closing costs and educational resources, aiding nurses, especially first-time homebuyers, through the home buying process. 2
  • Participating in a Delaware nurse mortgage program can connect nurses with a community of healthcare professionals, offering support and resources that are not typically available with traditional mortgage options.

Delaware offers a unique blend of economic opportunities, natural beauty, cultural attractions, and quality of life amenities that make it an appealing place to live for many individuals and families. Whether you live in the farm country or close to the Beach towns of Rehoboth and Bethany, you are also just a stone’s throw away from cool metropolitan areas like Philadelphia or D.C. And who ever looked askance at no sales tax!

Nurses are just some of the working professionals that love to call Delaware their home. According to the Bureau of Labor Statistics, 13,030 nurses live and work in the “Small Wonder” of the Eastern Seaboard. While work opportunities are all around for nurses in Delaware, buying a home is not always that easy. 

According to the FED, the median listing price of a single family home in Delaware is right around $499,945, meaning that even the hardest working nurse might find it difficult to afford a new home in the US’s first state.

Fortunately for these hardworking frontline workers, there are nurse mortgages to consider. These specialized loans can make it much easier for a nursing professional to buy a home in Delaware. 

How are Delaware nurse loans different from other loans?

Traditional mortgages offered by most lenders have their pros and cons, but eligibility can be difficult for someone in the healthcare profession. Plenty of nurses graduate with substantial student loans, making it hard for them to meet debt-to-income ratio (DTI) eligibility requirements. On top of that, each lender has their own rules about what a borrower must meet in terms of minimum credit score, down payment based on the mortgage loan amount, mortgage insurance such as PMI, and closing costs. Various interest rates and income limits may also apply for homeownership/home loan programs run by mortgage lenders.

Delaware nurse mortgages offer both financial and personal advantages one might not find with a traditional mortgage. Nurses, including first-time homebuyers trying to get a primary residence applying for these loans, are often pleased to discover that they come with a range of financial plusses, including:

  • Easier approval criteria
  • Help with closing costs
  • O to 10% down payments

Nurses moving to the state of Delaware can also enjoy some personal “pros” when it comes to Delaware mortgages. Delaware nurse mortgage programs often provide education and counseling services that help guide them through the home buying process. This is especially advantageous if it is your first time buying a home with a purchase price that lines up well with your income. Conventional mortgages and conventional loans can be challenging for a nurse home purchase. A nurse home buying program, however, can swing open the door for a primary residence for you.

Whether they are one of the 11,810 RNs or 1,140 NPs working in Delaware, nurses applying for a nurse loan in the state can also enjoy the benefits of community with these programs. In many instances, participating in a nurse mortgage program in Delaware can also connect nurses with a supportive community of fellow healthcare professionals, giving them access to valuable resources, advice, and camaraderie, which they would never experience with traditional mortgages.

You can work with loan officers to better understand things like income limits, whether or not you can secure an investment property vs. primary residence, mortgage payments, and overall loan repayment expectations. Often, these are different enough from mortgage options like FHA loans and other programs such that medical professionals can secure a primary residence moving to the state of Delaware. Whether you’re a private LPN, state employee, or travel nurse, when you find that dream home on the NMLS, you can use a nurse loan.

Examples of nurses who take out nurse mortgages in Delaware

Jemma is one of the 1,140 nurse practitioners working in Delaware. He would love to buy a home in Rehoboth where she grew up, but its status as a popular beach community means that prices keep going up and up. She needs some leverage in a competitive market, and she’s not sure she can do that on her nurse’s salary. Plus, many banks offering traditional mortgages are not exactly excited about the multiple jobs she works and her unusual pay schedule. 

Jemma’s co-worker at a local hospital pointed out to her that nurse mortgages are a great way to go. These programs are a lot more understanding of a nurse’s unique circumstances. After doing a bit of research, she was even able to find a nurse mortgage that would allow her to buy in Rehoboth without putting down 20% on the home. For the first time in her life, Jemma has the opportunity to buy the home of her dreams and plant roots in her favorite town in Delaware. 

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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