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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
Flagstar Bank is a full-service bank and one of the largest regional banks in the country, offering a broad range of consumer and commercial financial solutions, including banking, home lending, private banking, and wealth management.
High-income professionals can utilize Flagstar's mortgage products which are specifically built for physicians and other high-income professionals. These loans may have flexible qualifications, lower costs than a conventional mortgage, and low or even no down payment. You must be within 10 years of starting your profession. There are also jumbo loan options up to $3 million. Flagstar Bank N.A. is an Equal Housing Lender | Member FDIC. [ 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 |
Living in Hawaii is a dream realized for many, offering a unique lifestyle surrounded by breathtaking landscapes and a vibrant cultural tapestry. As a premier vacation destination, Hawaii lets residents enjoy the same natural beauty and experiences that draw millions of visitors each year.
That includes a number of nurses, too. In fact, according to data from the Bureau of Labor Statistics, Hawaii is home to 12,430 nurses, a list that includes some Error: Data not found. CRNAs, 11,920 RNs, and 510 NPs.
Of course, as anyone residing in Hawaii can tell you, the cost of living is not so great in this island state. Home prices, particularly, are always on the rise. According to the FED, the median listing price of a single family home is right around $798,500. It’s no surprise then that many of Hawaii’s nurses frequently find themselves unable to afford acquiring a new residence in the state.
That’s where nurse mortgages can help, offering a range of advantages, including low down payments, no insurance, and more.
A Hawaii nurse mortgage can offer several advantages tailored to the unique housing market and financial challenges of living in the Aloha State:
Overall, a nurse mortgage in Hawaii can provide valuable support and financial assistance to nurses navigating the challenges of homeownership in a high-cost housing market, helping them achieve their dream of owning a home in paradise. Nurses will still need to research loan terms like max purchase price and any requirements for private mortgage insurance.
With conventional loans, borrowers entering the home buying process might find numerous challenges. To start with, travel nurses might have unique work history. Nurses who have recently graduated might have a lower credit score, more credit card debt, and problems with their debt-to-income ratio for traditional loans. Talking with loan officers about a home purchase for a nurse mortgage may reveal more opportunities. Be sure to research the specifics of any mortgage loan and the associated qualifying rules, such as underwriting mandates around credit scores and DTI, total monthly repayments, and other loan terms. Often, medical professionals like nurses, however, find better fits to become homeowners through nurse mortgage loans. If you can’t get approved for FHA loans, VA loans, Fannie Mae associated loans, or USDA loans, you may need to look outside the conventional loan market. Much like dentists and medical doctors, nurses may need specific programs to help them become homeowners, especially if they plan to move to any of the Hawaiian islands.
As stated above, the pros with Hawaii nurse mortgages are clear. Lower down payments, no PMI, and special consideration for the unique work situations nurses have are some of the biggest reasons to go with a Hawaii nurse loan.
There are some potential drawbacks or cons of opting for a nurse mortgage in Hawaii, however, One is loan limitations. Given the high housing prices in Hawaii, one potential drawback of a nurse mortgage is that nurses may not qualify for a loan amount large enough to purchase the type of home they desire. Despite the assistance provided by nurse mortgage programs, some nurses may find it challenging to secure financing for properties in certain desirable locations or with specific features due to loan limitations.
There is also the potential that you could over-leverage yourself with a nurse mortgage. In a competitive housing market like Hawaii, there may be pressure to stretch financially to afford a home, even with the assistance of a nurse mortgage. Overleveraging oneself by borrowing too much or committing to a mortgage payment beyond one’s means could lead to financial strain or difficulty meeting other financial obligations in the future.
While nurse mortgages can provide valuable support and assistance to nurses in Hawaii seeking homeownership, it’s essential for borrowers to carefully weigh the pros and cons and consider their individual financial circumstances before deciding on the best mortgage option for their needs.
Emily loves working in a bustling private practice in Honolulu, Hawaii. Who wouldn’t like living and working in a place as beautiful as Hawaii? There was only one downside: the complexity of homeownership in her beautiful island city.
With Hawaii’s notoriously high housing prices and stringent mortgage requirements, Emily struggles to afford a home or qualify for a traditional mortgage. Despite her steady income and diligent saving habits, the cost of living in Honolulu seems dauntingly out of reach for her.
Frustrated by the seemingly insurmountable barriers to homeownership, Emily begins to explore alternative options. That’s when she learns about nurse mortgages, specialized home loan programs designed specifically for healthcare professionals like herself.
Encouraged by the potential advantages of a nurse mortgage, Emily decides to take the plunge and apply for one. With the guidance of a knowledgeable mortgage lender specializing in nurse mortgages, she navigates the application process with confidence.
To Emily’s delight, she finds that the specialized nature of the nurse mortgage program takes into account her unique circumstances as a nurse, making the process smoother and more accessible than she anticipated. With the assistance of her lender, Emily successfully secures a nurse mortgage and purchases her first home in Honolulu.
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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