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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 |
• Online
usually responds within 30 minutes
$100M Closed Loans
Shoreham Bank, founded in 1860, is a reputable financial institution offering a comprehensive range of banking services including loans, savings, and online banking.
High-income professionals can take advantage of various services from Shoreham Bank. These include specialized checking and savings accounts, tailored investment advice, estate planning, and personalized loan options. The bank also offers a private banking service, providing dedicated financial advisors for comprehensive wealth management. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.25 million |
| 10% | up to $1.5 million |
| 15% | up to $2 million |
With its colonial-era architecture and charming seaside villages, Rhode Island perfectly captures the picturesque New England lifestyle. Residents relish exploring historic sites like Newport’s Gilded Age mansions, all while enjoying the Ocean State’s convenient proximity to New York City.
With some of the best training and working hospitals in the region, it’s unsurprising that many nurses call Rhode Island home. According to data from the Bureau of Labor Statistics, 11,350 nurses reside in the Ocean State and enjoy working at its numerous hospitals and medical centers.
Though small, Rhode Island has some pretty substantial housing prices. Data from the FED places the median listing price of a single-family home in the Ocean State at about $549,950 — a cost that may leave many of the nurses in the state out in the cold when it comes to purchasing a home.
Rhode Island does offer some support to nurses, however — in the form of nurse mortgage loans. These programs are designed just for nurses and are meant to encourage nurses to live, work, and plant roots in the Ocean State.
If you’ve ever applied for a loan or mortgage, you will be somewhat familiar with the process of taking out a nurse home loan. For one thing, a nurse mortgage requires that you meet certain eligibility requirements. Fortunately, these qualifying for these criteria is often easy, since the programs are designed to incentivize home-buying in the nursing community. A nurse mortgage may also feature beneficial financing options, including help with closing costs, no private mortgage insurance (PMI), and lower down payments.
The best place to start is by researching the nursing mortgage programs in your area and assessing their pros and cons. The list below that provides you with some of the best options in the state. As you review these, take into account your personal financial situation to ensure you select the loan program that is the best option for your needs.
Figuring out whether a nurse mortgage is likely to work for you involves assessing certain aspects of your life:
There are several benefits of using nurse loan mortgage options, no matter whether you’re purchasing your primary residence or an investment property.
Nurse loans are not just for new homeowners nor even exclusively for homebuyers: borrowers can also use nurse loans to refinance an existing mortgage. This is a great for helping medical professionals reduce the interest rate on their mortgage payments (such as by switching from an adjustable-rate to a fixed-rate mortgage) or for gaining more favorable loan repayment terms.
As a nurse specializing in obstetrics, Elena had long hoped to secure a job at Women & Infants Hospital in Providence. She had grown up in the town, too, and loved the “small town” appeal of this “little big city.” After studying hard and maintaining two nursing gigs for several years, including one as a traveling nurse, Elena was now about to start a full-time schedule at the hospital.
With her career in line, Elena now wanted to fulfill another goal — buying a home. With prices high, however, she wasn’t sure she would be able to make a down payment on a home in Providence. Her work history as a traveling nurse also caused complications, as many traditional lenders didn’t understand that her work was stable and reliable.
Luckily, Elena heard about a regional program offering mortgages to registered nurses like her. She reached out to the mortgage lender and was pleased to hear how favorable the program’s financial terms were. Her down payment would be minimal; plus, the program introduced her to a network of nursing professionals, further supplementing her career. A new home was now possible to complement her new job.
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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