Nurse Mortgages in Pennsylvania


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.

Find a Mortgage lender

Find a home you love

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.

Get Your Mortgage Rate

find a home you love

Let the best bank win

PrimeLending logo UMB logo Flagstar Bank logo First National of Nebraska logo PNC Bank logo First Horizon Bank logo Fairway logo

And many more

Other professionals love us.

We think you will too.

Let’s Get Started
Mary Kate Raffetto

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

Clint Cowan

For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.” —Clint Cowan Lynn Pinker Hurst & Schwegmann

First National Bank of Pennsylvania

(DC, DE, FL, GA, MD, NC, NJ, OH, PA, SC, TN, VA, WV)

Match Banks Contact Send Email

Online

usually responds within 30 minutes

First National Bank of Pennsylvania

(DC, DE, FL, GA, MD, NC, NJ, OH, PA, SC, TN, VA, WV)

$100M Closed Loans

First National Bank of Pennsylvania, established in 1864, is a full-service financial institution offering commercial banking services across multiple states.

High-income professionals can benefit from First National Bank of Pennsylvania's tailored services, including wealth management, financial planning, private banking, and investment services. Furthermore, FNB offers business banking solutions and personalized lending options aimed at optimizing their financial growth and stability. [ Read Review → ]

  • Minimum credit score: 700
  • Maximum loan: $2,000,000
Down payment Financing
0%up to $1.25 million
5%up to $1.5 million
10%up to $2 million
20%up to $2 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DVM
  • CRNA
  • JD
  • DPM
  • OD
  • PharmD
  • NP
  • PA
  • DC
  • CPA
  • 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

Key Terms

  • Pennsylvania nurse mortgages offer lower down payments and assistance with closing costs, making homeownership more feasible for nurses facing financial hurdles.
  • These specialized mortgages provide flexible eligibility criteria and unique benefits tailored for nurses, such as forgiveness programs for those working in certain areas or support for those in rural communities.
  • Despite their advantages, potential borrowers should carefully consider their financial situation and long-term goals, as nurse mortgages may have limitations like higher interest rates or restricted availability compared to conventional loans.

Known as the Keystone State for its central role in the founding of the United States, Pennsylvania offers a rich tapestry of attractions and opportunities for residents. From the bustling streets of Philadelphia, brimming with iconic landmarks and cultural institutions, to the serene landscapes of the Pocono Mountains, teeming with outdoor adventures, Pennsylvania truly has something for everyone. Whether you’re drawn to its historic significance, thriving urban centers, or picturesque countryside, Pennsylvania’s charm and allure make it a compelling destination to call home.

Many of the citizens of the keystone state work in healthcare, a booming industry in PA.  Data from the Bureau of Labor Statistics, tells us that Pennsylvania is home to 156,160 nurses,  a list that also includes 2,900 CRNAs, 144,100 RNs, and 9,160 NPs.

Buying a home, however, may not be so easy for many of those nurses. According to the FED, the median listing price of a single family home in the state is currently at $312,500. As housing prices climb in Pennsylvania, nurses might encounter growing obstacles when trying to buy a home. However, nurse mortgages offer a remedy by offering perks like reduced down payments, help with closing expenses, and adaptable eligibility requirements specifically designed for nurses.

What are the Advantages of Pennsylvania Nurse Mortgages?

Considering a nurse mortgage? There are several benefits for nurses aiming to buy a home in the state:

  • Reduced down payments: Nurse mortgages often entail lower down payment requirements compared to traditional mortgages, enhancing accessibility to homeownership for nurses.
  • Assistance with closing costs: These specialized mortgage programs may extend help with closing costs, enabling nurses to save money upfront when purchasing a home.
  • Flexible eligibility requirements: Nurse mortgages typically feature more adaptable eligibility criteria, considering factors such as income stability, employment history, and credit score, thereby simplifying the qualification process for nurses.

Tailored benefits: Some nurse mortgage programs provide unique benefits specifically tailored for nurses, including forgiveness programs for those working in certain areas or support for nurses serving in rural communities.

Overall, these advantages make nurse mortgages a valuable option for medical professionals striving to realize their homeownership aspirations in Pennsylvania.

Is a Pennsylvania nurse mortgage right for me?

Trying to decide if a nurse mortgage is the right fit for you? We’ve created a checklist to help you make that decision:

  1. Assess Your Financial Situation:
    1. Evaluate income, savings, debts, and credit score.
    2. Determine affordability of homeownership within overall financial goals.
  2. Research Nurse Mortgage Programs:
    1. Explore available nurse mortgage options in your state.
    2. Compare eligibility criteria, benefits, and perks offered by different programs.
  3. Consider the Housing Market:
    1. Analyze housing market trends and affordability in desired area.
    2. Determine if nurse mortgages align with current housing market conditions.
  4. Evaluate Your Long-Term Goals:
    1. Consider how homeownership fits into long-term career and personal plans.
    2. Assess potential impact on future financial stability and goals.
  5. Review the Benefits and Drawbacks:
    1. Identify advantages such as lower down payments, assistance with closing costs, and flexible eligibility criteria.
    2. Consider potential drawbacks such as higher interest rates or limited availability compared to traditional mortgages.
  6. Consult with Experts:
    1. Seek advice from financial advisors or mortgage specialists.
    2. Discuss options and implications of nurse mortgages based on individual circumstances.
  7. Make Informed Decision:
    1. Weigh pros and cons based on personal financial situation and homeownership goals.
    2. Decide if a nurse mortgage aligns with your needs and provides the best path to homeownership.
  8. Plan for the Future:
    1. Develop a plan for managing mortgage payments and ongoing financial responsibilities.
    2. Ensure readiness for homeownership and commitment to long-term financial goals.

For any borrower thinking about whether this is a fit, you want to see if specific programs like nurse next door or other options exist for healthcare professionals. Often, states want to attract these medical professionals and make it easy for them to buy a home there, even if that borrower was unable to qualify for a conventional loan.

As with any loan, research the loan terms and qualifying rules like:

  • Ability to refinance
  • Minimum credit score required
  • Low Down payment assistance programs
  • Any help for first time home buyers
  • Private mortgage insurance/PMI
  • Purchase price limits/max loan amount
  • Debt to income ratio (DTI) rules (especially student debt considerations)
  • Monthly payments
  • Closing cost help
  • Various loan types

You can ask the loan officer questions about these specific programs to get you a new home. If conventional mortgages are out, review your eligibility requirements for all other loans.

If you don’t think conventional loans like VA loans, FHA loans, HUD, or USDA loans will help you get your dream real estate, you need to look into home loans for nurses. Getting pre approval can help you with understanding your max loan balance and where your income limits place you for a primary residence. You might also be able to get special options if moving to work in a rural area on the NMLS. Whether travel nurses, registered nurses, or some other kind of healthcare professional, calculators can help you see what you can get with any home loan program. Home buying programs just for healthcare workers may be your best bet, but all mortgage lenders have their own rules and specifics in terms of mortgage loans.

Examples of nurses who take out nurse mortgages in Pennsylvania

Do these scenarios resonate with you? If so, exploring the realm of nurse mortgages in Pennsylvania might just be the key to unlocking your path to homeownership:

James, a seasoned OR nurse at the renowned University of Pittsburgh Medical Center, is ready to transition from renter to homeowner and establish deeper roots in his community. However, with housing costs soaring and limited housing options, James is navigating a lot of challenges in finding a home. Upon a co-worker’s recommendation, James is eyeing a nurse mortgage as a potential solution to turn his dream of owning a home into reality. With the tailored support of a nurse mortgage program, James is now optimistic about finding a home that not only suits his budget but also complements his lifestyle in Pennsylvania’s lively urban environment.

Harriet is an experienced RN at the Penn Medicine Lancaster General Health. Amidst the tranquil beauty of Pennsylvania’s rural landscapes, Harriet has encountered hurdles in her quest for homeownership due to her student loan debt from nursing school. Despite her dedication to serving her community, traditional mortgage options remain out of reach. Exploring alternatives, Harriet is considering the prospect of a nurse mortgage, hopeful that it will provide the financial assistance and flexibility needed to fulfill her homeownership aspirations in the serene countryside. Fortunately, the nurse mortgage proves to be an ideal solution, offering Harriet favorable terms and acknowledging her commitment to rural healthcare with additional benefits tailored to her needs.

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.

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.

Save more money than your friends

One email each week covers personal finance, financial independence, investing and other stuff for lawyers that makes you better.