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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
• 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 |
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Affectionately known as the Beaver State, Oregon captivates with its stunning landscapes, from the rugged Pacific coastline to the majestic Cascade Range and lush Willamette Valley forests. Thriving cities like Portland, with its eclectic culture and culinary scene, and Eugene, home to a vibrant arts community and the University of Oregon, offer diverse experiences. For high-income professionals, Oregon provides a unique blend of outdoor adventures, cultural attractions, and a laid-back lifestyle.
Thanks to a booming healthcare industry, Oregon is also home to a number of nurses. Data from the Bureau of Labor Statistics shows that 41,570 nurses, a list that also includes 390 CRNAs, 38,770 RNs, and 2,410 NPs reside in this Northwestern state.
Unfortunately, due to escalating housing costs, purchasing a home isn’t always straightforward for these professionals. According to the FED, the median listing price of a single family home in the state is currently at $569,950. Fortunately, nurse mortgages offer a solution, providing nurses advantages like reduced down payments, assistance with closing expenses, and adaptable eligibility criteria specifically designed for them.
Taking out a nurse mortgage in Oregon comes with several distinct advantages tailored to the unique needs of nurses in the state. For one, Oregon’s nurse mortgage programs often offer reduced down payment requirements, making homeownership more accessible to nurses, particularly in areas with high housing costs such as Portland and Eugene. This lower barrier to entry can be especially beneficial for nurses who may be struggling to save up for a traditional down payment while managing student loan debt or other financial obligations.
Secondly, nurse mortgages in Oregon may provide assistance with closing costs, further easing the financial burden of purchasing a home. With closing costs typically ranging from 2% to 5% of the home’s purchase price, this assistance can significantly reduce the upfront expenses associated with buying a home, allowing nurses to preserve their savings for other priorities.
Additionally, nurse mortgage programs in Oregon often feature flexible eligibility requirements, taking into account factors such as income stability, employment history, and credit score. This flexibility recognizes the unique circumstances of nurses, many of whom may have non-traditional work schedules or multiple sources of income. By accommodating these factors, nurse mortgages in Oregon ensure that a wider range of nurses can qualify for homeownership, fostering greater financial stability and security for healthcare professionals across the state.
A nurse mortgage differs from a traditional mortgage in several key ways, offering tailored benefits specifically designed for nurses. Firstly, nurse mortgages often feature lower down payment requirements compared to traditional mortgages. This reduction in the upfront cash needed to secure a home can be particularly advantageous for nurses who may be carrying student loan debt or facing other financial challenges. By lowering the barrier to entry, nurse mortgages make homeownership more accessible to nurses, allowing them to achieve their housing goals sooner.
Secondly, nurse mortgages may come with assistance programs specifically targeted at healthcare professionals. These programs can include perks such as assistance with closing costs, reduced interest rates, or forgiveness programs for nurses working in underserved areas. These benefits recognize the vital role that nurses play in the healthcare system and aim to support them in achieving homeownership while navigating the unique financial landscape of their profession.
In terms of the application process, obtaining a nurse mortgage typically involves working with lenders who specialize in serving healthcare professionals. These lenders understand the intricacies of nurses’ financial situations and can offer personalized guidance throughout the mortgage process. Additionally, nurse mortgages may have more flexible eligibility criteria, taking into account factors such as non-traditional work schedules or multiple sources of income common among nurses. This flexibility streamlines the application process and ensures that nurses can access the financing they need to purchase a home without unnecessary hurdles or complications.
It can be hard for nurses and other healthcare professionals to get approved for conventional loans in the home buying process. These borrowers enter the process with more student loan debt, much like dentists or doctors who had to invest in their education. Traditional mortgage lenders may not understand how to help these borrowers get their target loan amount if they don’t have much ability to overlook things like debt-to-income ratio (DTI). A medical professional like nurse practitioners or travel nurses may need to speak with loan officers specifically about nurse mortgage loans. These programs may be fixed-rate or adjustable rate in nature, but could make it faster for a nurse to get a new home. Once you find a dream property on the NMLS, you might be tempted to contact a real estate agent, but healthcare providers should research nurse home loan programs first. State programs such as nurse next door may also exist in Oregon, or similar situations.
As with any loan, going through the pre-approval process can simplify things. These aspiring homeowners and current healthcare workers looking into home loans for nurses should evaluate all loan terms and mortgage options like:
Take a look at the examples below of nurses who have taken out nurse mortgages. Are these scenarios you can relate to? If so, nurse mortgages in Oregon might be the financial solution you need:
Yolanda, an RN at the Salem Health in Oregon’s capital, is eager to transition from renting an apartment to owning her own home, but she has been facing some financial hurdles due to her significant student debt from nursing school. Rather than give up on her dream, Yolanda decides to start exploring alternative financing options. She’s considering a nurse mortgage, recognizing its potential to offer lower down payment requirements and tailored benefits for healthcare professionals like herself. With the assistance of a nurse mortgage program, Yolanda hopes to overcome the financial barriers to homeownership in Salem.
Frances, an RN working in a rural mining community in Oregon, has long been dedicated to providing healthcare services to her community despite the challenges of the remote location. With limited housing options and the desire to put down roots in the area she serves, Frances has been exploring avenues to make homeownership a reality. Fortunately, she discovers a nurse mortgage program specifically tailored to healthcare professionals serving rural communities like hers. This specialized mortgage not only offers favorable terms and reduced down payment requirements but also provides additional benefits tailored for nurses working in rural areas. With the support of this nurse mortgage, Frances can finally achieve her dream of owning a home in the picturesque yet challenging landscape of rural Oregon.
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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