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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, 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 |
In how many states can you ski all winter in the West and then enjoy a real summer on an island beach in the East? When you add in the world-class universities, beautiful villages, and cosmopolitan cities, Massachusetts really has it all.
While thousands flock to Massachusetts for its schools and culture, the Bay State is also a big attraction for nurses, thanks to its impressive healthcare industry. According to data from the Bureau of Labor Statistics, 96,050 nurses call Massachusetts home.
While finding a job may be on the easier side for nurses in the Bay State, finding a home to buy may not be as easy. According to the FED, the median listing price of a single family home in Massachusetts is about $779,900— a price that can leave many of Massachusetts’ nurses wondering if they will ever be able to buy a home.
The good news is that Massachusetts offers some support to nurses, in the form of specialized nurse mortgages. Designed just for nurses, these programs are meant to make it easier for nurses to live, work, and plant roots in this popular New England state.
How do nurse mortgages work exactly, in Massachusetts? If you’ve ever gone through the process of applying for a loan or mortgage, you’ll have some familiarity with how a nurse mortgage works. To qualify for a nurse loan, you need to meet specific eligibility criteria. Fortunately, these criteria tend to be quite flexible as these programs aim to encourage home buying. Additionally, nurse mortgages may offer financial benefits such as assistance with closing costs, no PMI, or lower down payments.
If you are one of the 8,060 NPs or 87,320 CRNAs in Massachusetts, it’s advisable to research the nurse mortgage programs available in your area and evaluate their advantages and disadvantages. Below is a list of some of the top options in the state. As you review these options, consider your individual financial situation to choose the program that best suits your needs.
For some borrowers, it can be hard to get into a traditional loan program because of high interest rates, a low credit score, or a problematic debt-to-income ratio (DTI). Especially for first time homebuyers who work as medical professionals, this path to homeownership can be a challenge without the right mortgage loans. FHA loans, VA loans, and other programs may not apply for healthcare professionals. If you want to make a home purchase in the near future and already found out that traditional mortgage lenders won’t really work with you, it might be time to think outside the box to buy a primary residence.
As with all mortgages, reviewing qualifying eligibility requirements, such as credit scores, whether you’ll need to carry private mortgage insurance, whether you can refinance in the future, the interest rate for the total loan amount now and in the future, and whether there are any down payment assistance programs you can use. Not every home buying program is created equal, especially when you’re looking beyond conventional loans linked to Fannie Mae, USDA loans, the Department of Veterans Affairs, or the Federal Housing Administration. You might be able to get a new home with good monthly payments through something specific like the nurse next door program or other home loans for nurses. If a conventional loan doeesn’t work for you, the best mortgage might be a fixed-rate nurse mortgage. Just like you would with a conventional mortgage, review all the down payment requirements and disclosures upfront. Loan terms may vary based on your household income, student debt, and loan type.
For any new homeowner, it makes sense to look at all home loan programs and to speak with a loan officer about what’s required. Depending on your purchase price and the location of your ideal real estate, you may be able to get mortgage loans for either urban or rural areas.
Determining whether a nurse mortgage suits your needs requires evaluating various aspects of your life:
What’s your employment history like? Many nurses have diverse work experiences, including multiple jobs or irregular payment schedules. Some may also work as traveling nurses, which may appear unstable on traditional mortgage applications. If you believe your work history may not qualify you for a traditional loan, a nurse mortgage could be a viable option.
How about your Debt-to-Income Ratio? Numerous nursing students rely on student loans to finance their education, resulting in a potentially high debt-to-income ratio when applying for a loan. Nurse mortgages take a more lenient approach to factors like this, simplifying the qualification process.
Finally, what’s your overall financial situation? Consider your financial capacity to determine the type of home you can afford and the down payment you can make. Given that nurse loans in Massachusetts may offer assistance with closing costs, down payments, and more, these factors should be taken into account when choosing a loan option.
Even though she was one of those rare people who actually grew up on Nantucket, Thomasina was adjusting well to life in the “big city” of Boston. She was renting in the Back Bay and working across the river at a clinic in Cambridge. While she couldn’t afford a home in the city proper, she did think she could afford a home in Somerville. With a new job about to come through at Cambridge Hospital, the time was right for Thomasina to buy a home and plant roots on that side of the river.
The question was: Did she have enough leverage to by a home, even in more affordable suburban areas? The market in the Greater Boston Area was still pretty competitive, and she wasn’t sure how she would make it work. Twenty percent down? Definitely, impossible. She had to look for alternatives.
That’s when she discovered nurse mortgage loans in Massachusetts. These specialized programs were an ideal fit for a nurse like her, giving accommodations for the fact that she would be starting a new job and even helping with closing costs. She was pleasantly surprised, too, to find that she would be able to qualify with almost no money down, making her home buying dream within reach.
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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