You’re our first priority. We want you to understand how we make money. This post may contain affiliate links. Biglaw Investor may receive a commission at no additional cost to you if you click on the links in this article. This may influence which products we write about and where and how the products appear on a page. However, it does not influence our evaluations. Our opinions are our own. In some circumstances, if you work with us, we are able to provide an incentive to work with our advertising partners that is unavailable if you work with our advertising partners directly. Our partners cannot pay us to guarantee favorable reviews of their products or services. To read more about how we make money, click here.
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
• Online
usually responds within 30 minutes
$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 → ]
| 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 |
$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 |
New Mexico, the “Land of Enchantment,” captivates with its stunning desert landscapes, rugged mountains, and scenic canyons. High-income professionals are attracted to its rich cultural heritage, vibrant arts scenes in Taos and Santa Fe, and the unique blend of Native American and Spanish colonial architecture.
Many of the residents of New Mexico are, of course, nurses. In fact, according to data from the Bureau of Labor Statistics 19,780 nurses call this Western state home, including some 1,480 NPs, 270 CRNAs, and 18,030 RNs.
While New Mexico enjoys a relatively low cost of living compared to many other states, making it an attractive option for those seeking affordability without sacrificing quality of life, housing expenses are still on the rise.
According to the FED, the median listing price of a single family home in New Mexico is at a whopping $390,000, making it far too difficult for the average nursing professional to buy a home in the Land of Enchantment.
Luckily, nurse mortgages are available to lend a hand. Tailored specifically for nurses, these programs offer a more accessible path for nurses in New Mexico to discover and purchase a home without straining their finances!
Are you a nurse on the hunt for a home in New Mexico? Well, nurse mortgages could be your secret weapon in the homebuying game. These special mortgages are designed just for nurses like you, making the whole process a whole lot easier.
First off, nurse mortgages often come with perks like lower down payments and flexible eligibility criteria. That means you might be able to snag your dream home without having to fork over a huge chunk of cash upfront or stress about meeting strict requirements.
Plus, nurse mortgages usually skip the need for private mortgage insurance (PMI), which can save you some serious dough on your monthly payments. And let’s not forget about the extra support they offer for those odd work schedules and multiple jobs that us nurses often juggle, as well as the network of professionals these programs can introduce you to.
If you’re looking to buy a home in New Mexico, a nurse mortgage could be your ticket to homeownership without all the hassle. Much like dentists or physicians, nurses may have higher student loan balances and hefty loan payments that throw off their qualification for conventional mortgages. This can make it seem as though a home purchase for medical professionals is impossible, but the truth is that nurse mortgages can help you get that dream new home.
Often due to student loans, which bring up their debt to income ratio, nurses have trouble qualifying for a full loan amount in most mortgage programs. Since nurses have tom invest so much in their nursing education loans to get their proper training, they might not meet stringent requirements from traditional lenders. Even with financial aid, plenty of nurses have to turn to student loans to help cover the difference in their tuition. Instead, these borrowers should look at mortgage loan interest rates and loan repayment programs specific for healthcare professionals. If these applicants don’t qualify for VA loans, USDA loans, or FHA loans, nurses should look outside of conventional loan options and into nurse home buying programs instead.
Of course, these loans still have their own application process, loan terms, minimum credit score requirements, close look at student debt, and down payment options. However, they may be more flexible with DTI and some even offer down payment assistance programs to help homeowners secure a primary residence.
Considering whether a nurse mortgage is the right move for you? Let’s break it down:
Pros:
Nurse mortgages offer a bunch of sweet perks tailored to nursing pros:
Lower down payments, making homeownership more accessible.
Cons:
Finding a nurse mortgage might require a bit more digging than your standard mortgage.
And watch out for potential extra fees that could sneak up on you.
Take all of this into consideration alongside your financial situation to see if a nurse mortgage fits the bill for you. It’s all about finding the best fit for your needs!
A dedicated nurse working at a bustling private practice in the heart of Santa Fe, New Mexico, Maria had always dreamed of owning her own adobe home in this charming city, with its rich cultural heritage and stunning desert landscapes.
Despite her steady income and years of hard work as a nursing professional, however, Maria found herself facing the daunting task of navigating the competitive housing market in Santa Fe. With prices on the rise and limited inventory available, Maria knew that purchasing a home would be no easy feat.
Determined to turn her dream of homeownership into a reality, Maria began exploring her options. She scoured real estate listings, attended open houses, and even consulted with a local real estate agent. However, with each passing day, Maria grew increasingly frustrated as she struggled to find a home within her budget.
Just when she was about to lose hope, Maria’s colleague mentioned something called a nurse mortgage. Curious, Maria did some research and discovered that nurse mortgages were designed specifically for healthcare professionals like herself, offering perks like lower down payments and more flexible eligibility criteria.
She immediately reached out to a nurse mortgage lender in her area. The lender guided her through the process and even put her in touch with other nurses in the program. In no time at all, she had a mortgage in hand and an offer on the table for the house of her dreams.
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.
One email each week covers personal finance, financial independence, investing and other stuff for lawyers that makes you better.
Biglaw Investor is helping thousands of high-income professionals manage and eliminate student loans and make great investment decisions. We’re on a mission to help every high-income professional achieve financial independence.