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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 |
Known for its tight-knit communities and neighborly spirit, New Hampshire also boasts fine mountainscapes, the Lakes regions, and a handsome coastline. Factoring the pleasant addition of no state income tax and a stunningly low crime rate, it’s quite clear why so many call this New England State home.
The Granite State is also home to a number of medical professionals, including nurses. In fact, data from the Bureau of Labor Statistics tells us that some 16,530 nurses call New Hampshire home. That includes some 1,870 NPs and 14,380 RNs respectively.
For nurses working in New Hampshire, finding a home to buy is not always easy, unfortunately. According to the FED, the median listing price of a single family home in New Hampshire rests at around $571,950, leaving many nursing professionals stuck in a rental cycle.
Nurse mortgages are there to help. Created just for nurses, these programs can give healthcare workers like nurses in New Hampshire an easier way to find and buy a home without breaking the bank!
The differences between applying for a traditional mortgage and a nurse mortgage in New Hampshire can vary depending on the specific programs and lenders involved. However, here are some general distinctions you might encounter:
Eligibility Criteria: Nurse mortgages often have specialized eligibility criteria tailored to nurses, such as specific employment requirements or income thresholds. These criteria may be more flexible or accommodating compared to traditional mortgages, making it easier for nurses to qualify.
Private Mortgage Insurance (PMI): Some nurse mortgage programs may waive the requirement for private mortgage insurance (PMI), which is typically required for conventional loans with a down payment of less than 20%. This can result in lower monthly payments for nurses.
Documentation Requirements: While both traditional mortgages and nurse mortgages require documentation of income, assets, and other financial information, nurse mortgages may have specific documentation requirements or allowances for certain types of income common among nurses, such as overtime pay or income from multiple jobs.
Finally, nurse mortgages may include specialized offerings designed to meet the unique needs of nurses, including New Hampshire’s 1,870 NPs and 14,380 CRNAs, such as relocation assistance for traveling nurses or loan forgiveness programs for nurses working in underserved areas.
Borrowers who want to become first-time homebuyers need to research all loan programs to find something that’s the right fit for them. Depending on your credit score, your DTI, your interest in refinance options, your income limits, purchase price, targeted closing costs, and other information, you may meet qualifying criteria for a nurse home loan assistance program. Some homeowners can even get down payment assistance depending on their loan amount. Talk to main loan officers with any other real estate lenders to get a handle on their requirements and benefits when buying a primary residence you spotted on the NMLS.
Want to consider the pros and cons of taking out a nurse mortgage before you make a decision? Take a look at the following.
Pros
Nurse mortgages also give special consideration to the “odd” circumstances inherent in much nursing work, including overtime and multiple jobs. These loans may have different down payment requirements or down payment options when compared with a conventional mortgage, so review things on calculators or use contact information to get more details about specific programs. Unlike fannie mae or FHA loan programs, some nurse mortgages make it easier to bring in higher values of student loan debt. These nurse home purchase programs recognize that healthcare professionals, much like physician mortgage programs, may have applicants with higher than typical student loan debt and DTI, but this does not eliminate these nurses from entering the home buying process. Some may still be eligible for low down payment options on fixed-rate mortgages with good loan repayment terms, too.
Cons
Weigh all of this against your financial picture and you’ll be better able to determine whether a nurse mortgage works for you.
Sarah had been working tirelessly at Dartmouth-Hitchcock Medical Center for years, providing compassionate care to her patients day in and day out. Despite her unwavering dedication to her profession, Sarah had also always dreamed of owning her own home for herself and her family.
As Sarah began researching mortgage options, she stumbled upon a special program tailored specifically for nurses like herself. Intrigued by the possibility of securing a mortgage designed with her profession in mind, Sarah decided to learn more.
Sarah discovered that the nurse mortgage program offered several benefits tailored to nurses, including flexible eligibility criteria, assistance with closing costs, and competitive interest rates. Excited by the prospect of owning her own home with the support of this specialized program, Sarah eagerly began the application process.
Throughout the application process, Sarah found the support and guidance she needed from a knowledgeable mortgage specialist who understood the unique needs of nurses. The specialist helped her gather the necessary documentation, navigate the paperwork, and ensure that she met all the program requirements.
Despite some initial nerves, Sarah’s application was approved, and she received the keys to her new home in short order. As she stepped through the front door for the first time, she felt a sense of pride and accomplishment wash over her. With the support of a nurse mortgage program, Sarah had achieved her dream of homeownership and could finally enjoy the comfort and security of her own space.
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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