Nurse Mortgages in Missouri


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Arvest Bank

(AR, KS, MO, OK)

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Online

usually responds within 30 minutes

Arvest Bank

(AR, KS, MO, OK)

$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 → ]

  • Minimum credit score: 640
  • Maximum loan: $1,750,000
Down payment Financing
0%up to $1.25 million
5%up to $1.75 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • OD
  • CRNA
  • DVM
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

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 Federal Bank Of Kansas City

(KS, MO)

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Online

usually responds within 30 minutes

First Federal Bank Of Kansas City

(KS, MO)

$100M Closed Loans

First Federal Bank of Kansas City, established in 1934, is a community-focused institution providing comprehensive banking services including loans, deposits, and mortgage options.

High-income professionals can leverage First Federal Bank of Kansas City's suite of services, including specialized loan programs, wealth management advice, and personalized banking. The bank offers comprehensive financial solutions, such as mortgages, savings accounts, checking accounts, and online banking to facilitate seamless financial management. [ Read Review → ]

  • Minimum credit score: Not reported
  • Maximum loan: $1,500,000
Down payment Financing
%up to $1.5 million
0%up to $1 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • OD
  • PharmD
  • NP
  • PA
  • DVM
  • CRNA
  • JD
  • DC
  • CPA
  • PhD
  • RN

First National Bank of Omaha

(CO, IA, IL, KS, MO, NE, SD, WY)

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Online

usually responds within 30 minutes

First National Bank of Omaha

(CO, IA, IL, KS, MO, NE, SD, WY)

$100M Closed Loans

First National Bank of Omaha, founded in 1857, is the largest privately-owned bank in the U.S., offering a full range of banking and financial services across multiple states.

High-income professionals can take advantage of the First National Bank of Omaha's services, which include wealth management, comprehensive financial planning, private banking, and trust services. FNBO also offers personalized strategies for investment, estate planning, and managing retirement assets. [ Read Review → ]

  • Minimum credit score: 720
  • Maximum loan: $1,500,000
Down payment Financing
0%up to $850,000
5%up to $1.25 million
10%up to $1.5 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • CPA
  • DPM
  • DVM
  • OD
  • DC
  • 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

Simmons Bank

(AR, IL, KS, MO, OK, TN, TX)

Match Banks Contact Send Email

Online

usually responds within 30 minutes

Simmons Bank

(AR, IL, KS, MO, OK, TN, TX)

$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 → ]

  • Minimum credit score: 640
  • Maximum loan: $417,000
Down payment Financing
0%up to $417,000
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DVM
  • OD
  • CRNA
  • DPM
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

Key Terms

  • Nurse mortgages in Missouri offer lower down payments and assistance with closing costs, making homeownership more accessible for nurses amidst rising housing costs./li>
  • These specialized loans may come with higher interest rates and potential additional fees, increasing the overall cost of purchasing a home.
  • Availability of nurse mortgages is limited to certain lenders, and not all nurses may qualify due to specific financial criteria.

Missouri, known as the “Show Me State,” beckons with its diverse landscapes, vibrant cities, and rich cultural heritage. From the bustling metropolis of St. Louis to the serene beauty of the Ozark Mountains, Missouri offers something for everyone. Whether you’re drawn to the lively music scene in Kansas City or the tranquil charm of small-town living, Missouri provides a unique blend of urban excitement and rural tranquility. 

With a low cost of living and a strong sense of community, Missouri presents an inviting prospect for those seeking a place to call home, including many nurses. According to the Bureau of Labor Statistics tells us that Missouri is home to 81,450 nurses,  a list that also includes 850 CRNAs, 73,190 RNs, and 7,410 NPs.

In general, Missouri provides a reasonably priced lifestyle, enabling residents to relish its distinct culture and attractions without straining their finances. However, housing costs pose a challenge, offeringless affordability in comparison. According to the FED, the median listing price of a single family home in the state is currently at $299,900.

As housing expenses climb in Missouri, nurses might find it getting harder and harder to afford a home. Nurse mortgages present a specialized answer, offering advantages like reduced down payments, aid with closing expenses, and adaptable eligibility requirements.

The Pros and Cons of Missouri Nurse Mortgages

Nurse mortgages in Missouri offer both advantages and drawbacks, making it crucial to weigh the pros and cons before diving in:

Pros:

  • Tailored to nurses’ unique financial situations, easing the path to homeownership amidst a competitive housing market.
  • Specialized benefits help nurses overcome high housing costs and realize their homeownership dreams.

Cons:

  • Possibility of higher interest rates compared to traditional mortgages, depending on the lender and borrower’s financial profile.
  • Potential for additional fees or closing costs, increasing the overall expense of purchasing a home.
  • Limited availability, as nurse mortgage programs are typically offered by select lenders specializing in serving the nursing community.
  • While boasting flexible eligibility criteria, not all nurses may qualify based on their individual financial circumstances.

What makes missouri nurse mortgages different from other loans?

Nurse mortgages, also known as physician or healthcare professional mortgages, stand out from traditional home loans in several key ways. Firstly, these specialized mortgage programs are tailored specifically to the needs of nurses, recognizing the unique financial circumstances they often face. Unlike traditional mortgages, nurse mortgages may offer more flexible eligibility criteria, taking into account factors such as irregular work schedules, high student loan debt, or lower down payment capabilities.

Secondly, nurse mortgages often come with exclusive benefits designed to assist healthcare professionals in achieving homeownership. These perks can include lower down payment requirements, reduced or waived private mortgage insurance (PMI) premiums, and even special forgiveness programs for those working in underserved areas. By catering to the specific needs of nurses, these mortgages aim to make homeownership more accessible and attainable despite the challenges they may encounter in the housing market.

Additionally, nurse mortgages may provide a smoother and more streamlined application process compared to traditional home loans. Lenders specializing in nurse mortgages understand the unique financial situations of healthcare professionals and can offer personalized guidance and support throughout the application process. This tailored approach can help nurses navigate the complexities of obtaining a mortgage with greater ease and confidence, ultimately facilitating their journey towards homeownership.

For a lot of borrowers just entering the home buying process, it can be frustrating to figure out that you may not qualify for a new home with a conventional loan. Talking with loan officers could make you feel like it won’t be possible for you to purchase a home. A nurse home loan, program, however, could be different. Finding the best mortgage for you is important, even if that is not a conventional mortgage. Medical professionals may have to turn to other loan types to get their door in the door of a new home. Programs like VA loans, USDA loans, and FHA loans may have requirements that loan officers cannot override. Further, these conventional mortgages may not have various low down payment options. FInding your dream home in your purchase price budget on the NMLS is just a first step, but you might need to step outside of traditional mortgage options to get your loan approved.

You’ll need to review every mortgage lender’s expectations when it comes to things like:

  • Minimum credit score required
  • Opportunities to refinance
  • Maximum total loan amount
  • Down payment assistance programs
  • Whether the loan is fixed-rate or adjustable rate mortgages
  • Early repayment options to clear the entire loan balance
  • Eligibility for refinancing in the future
  • Length of employment history required
  • The process for first-time homebuyers
  • Debt to income ratio (DTI) expectations
  • Other loan terms

Healthcare workers such as dentists, registered nurses, physicians, travel nurses, and others moving to Missouri find find special home buying programs just for them. For a new primary residence, whether it’s in an urban or rural area in Missouri, a nurse home loan may make it easier and faster for someone to qualify upfront and go through underwriting.

Examples of nurses who take out nurse mortgages in Missouri

Do these scenarios sound familiar? If they do, a nurse mortgage in Missouri might be a great fit for you:

Meet Thomasina, a native of St. Louis, who has always dreamed of owning a home in her vibrant city. Working as an oncology nurse at Barnes-Jewish Hospital, Thomasina is committed to her career and community. However, navigating the city’s competitive real estate market and rising housing costs posed a significant challenge for Thomasina. Thankfully, she discovered the option of a nurse mortgage, offering the financial flexibility she needed to make her dream of homeownership a reality. With a tailor-made nurse mortgage program supporting her, Thomasina achieved her goal of purchasing her first home in St. Louis, marking a significant milestone in her life.

Then there’s Elena, a nurse serving the rural healthcare landscape of Missouri for years. Despite her dedication to her community, Elena encountered obstacles on her path to homeownership, including escalating housing costs and limited mortgage options. However, with the introduction of a nurse mortgage designed specifically for rural healthcare providers like her, Elena’s dream of owning a home became attainable. This specialized mortgage not only offered reduced down payments and interest rates but also provided exclusive benefits for nurses serving in underserved regions. With the assistance of this nurse mortgage, Elena secured her own piece of farmland, firmly establishing herself in the community she serves.

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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