Nurse Mortgages in Maryland


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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 National Bank of Pennsylvania

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

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Online

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)

Match Banks Contact Send Email

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)

Match Banks Contact Send Email

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

  • Maryland nurse mortgages offer specialized advantages such as lower down payments and reduced closing costs, designed to accommodate the financial challenges faced by nurses in high-cost areas like Montgomery County.
  • These loan programs provide flexible qualification criteria that consider the unique financial situations of nurses, including those with high student debt or irregular income, making it easier for them to secure financing.
  • Despite the benefits, potential borrowers should carefully consider the terms of nurse mortgages, such as interest rates and long-term financial implications, to ensure they align with their homeownership goals and financial stability.

From the shores of the Chesapeake Bay to the Appalachian Mountains in the west, Maryland boasts a diverse landscape that provides opportunities for outdoor recreation, while still keeping you in close proximity to some of the coolest cities on the East Coast, including Baltimore and D.C. Maryland also has a rich history and is home to several historical landmarks, museums, and cultural institutions. Residents can explore sites such as the U.S. Naval Academy, the National Aquarium, and historic neighborhoods like Annapolis and Frederick, just to name a few. 

Of course, Maryland is also known for its strong healthcare system, including world-class hospitals and medical research facilities. It’s no surprise, then, that so many nurses call the state home. According to the Bureau of Labor Statistics, 55,510 live and work in Maryland. While work opportunities abound for nurses in the Old Line State, the cost of buying a home in Maryland is becoming more and more expensive, especially in exurban counties, like Montgomery County. 

According to the FED, the median listing price of a single family home in Maryland is right around $422,500, meaning that even the hardest working nurse might find it difficult to afford a new home in the state!

With nurse mortgages, however, nursing professionals in Maryland have some great opportunities to fund a home purchase.  

How do Maryland nurse loans work?

Maryland offers specialized loan programs designed specifically for nurses and other healthcare professionals. These programs may include features such as lower down payments, reduced closing costs, or more lenient credit requirements. These mortgage loans can also offer some flexibility when it comes to the unique pay and work schedules of nurses. Varying assistance programs and loan repayment programs exist, so do your research.

If you find that you don’t meet qualifying criteria for traditional loans due to a credit score, high student loans/dti, or other issues, you may need to step away from conventional loans and work with a loan officer who can help you with nurse loans. First-time homebuyers should, of course, review all eligibility requirements, including total maximum loan balance, debt-to-income ratio rules, credit score minimums, monthly payments, and general loan terms. This opens up many different mortgage options, however, that enable healthcare workers to get a primary residence or refinance. A nurse home loan program helps medical professionals who find their dream real estate to make a confident decision about their purchase.

Applying for a nurse mortgage is similar to the process for applying for any loan. Whether you’re a travel nurse, LPN, or registered nurse, you’ll review all the available loan options and underwriting requirements. As a first step, you will want to look into some of the best programs in the state. (Yes, we’ve got a list below!) Next, consider what you want out of your nurse mortgage. Advantages offered by these programs can include:

Lower Interest Rates: Some nurse mortgage programs in Maryland may offer lower interest rates compared to conventional mortgages, making it easier for borrowers to secure a competitive fixed rate.

Down Payment Assistance: Maryland registered nurse loans may also provide down payment assistance in the form of grants or deferred payment options to help nurses overcome the barrier of saving for a large down payment. Depending on your loan amount, you might be able to cover a lot of your down payment with your mortgage lender. Verify your low down payment options before starting the application process.

Flexible Qualification Criteria: Maryland nurse mortgage programs may have more flexible qualification criteria compared to traditional mortgages— a big boon for nurses who may have sizable student debt or even dinged credit. Compared to things like adjustable-rate mortgages or FHA loans, you might get more flexibility with these nurse loan programs, which allows these healthcare workers to become homeowners faster.

Education and Counseling: Some nurse mortgage programs offer education and counseling services to help nurses navigate the home buying process. This support can include financial literacy training, homeownership workshops, and one-on-one counseling sessions. From discussing your purchase price to learning about different home buying programs, medical professionals like LPNs and registered nurses can head into the application process more confident.

Examples of nurses who take out nurse mortgages in Maryland

Mark is one of the 5,180 nurse practitioners working in Maryland. He and his wife, who is one of the state’s 560 CRNAs, are renting in Montgomery County just outside D.C. The schools there are great, and they love the small town feel of their neighborhood in Rockville. 

Unfortunately, they don’t think they will ever be able to break out of the rent cycle. Home prices in the area keep going up, and a down payment on a home would mean wiping out their savings and investment accounts. Mark’s wife heard about nursing mortgages in Maryland from a colleague. Is it an option that would work for them?

After carefully assessing their financial situation and the details of the program, Mark and his wife decided to undertake a Maryland nurse mortgage. The program allowed them to buy a home with no money down in their ideal neighborhood, where they look forward to enjoying a long and productive life as nursing professionals and parents. 

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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