Nurse Mortgages in West Virginia


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First Citizens

(AZ, CA, CO, FL, GA, KS, MD, MO, NC, NE, NM, NV, OK, OR, SC, TN, TX, VA, WA, WI, WV)

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usually responds within 30 minutes

First Citizens

(AZ, CA, CO, FL, GA, KS, MD, MO, NC, NE, NM, NV, OK, OR, SC, TN, TX, VA, WA, WI, WV)

$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 → ]

  • Minimum credit score: 680
  • Maximum loan: $2,000,000
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
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • OD
  • CRNA
  • NP
  • PA
  • DC
  • DVM
  • PharmD
  • JD
  • CPA
  • PhD
  • RN

First National Bank of Pennsylvania

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

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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)

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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

  • Nurse mortgages in West Virginia offer lower down payments and flexible credit requirements, making them accessible for nurses with varying financial backgrounds.
  • While nurse mortgages provide special considerations like assistance with closing costs, they can have higher interest rates and additional fees compared to conventional loans.
  • These mortgage options are tailored to nurses’ unique financial situations, including managing high debt-to-income ratios due to student loans.

West Virginia is one of the most unique and beautiful states in the Union, featuring stunning green mountains and landscapes, quaint towns, and thriving communities. Nurses who live and work in this state have a wealth of work opportunities, but buying a home in West Virginia is often difficult. 

According to the Bureau of Labor Statistics, some 20,860 registered nurses alone are working in the Mountain State. Many of these medical professionals, however, are finding it hard to purchase a new home in the state. This may be for many reasons, including the fact that properties do not turn over in West Virginia as often as in other places.

Another reason it’s difficult to become a homeowner is the current cost of a home in this Appalachian state. The median listing price of a single-family home in West Virginia currently hovers around $240,000, according to the FED, making homes expensive for the average registered nurse.  

Nurses living and working in West Virginia do have options, fortunately. One is a nurse mortgage. These specialized financial products are specifically for healthcare professionals who are searching for new homes. 

The pros and cons of a West Virginia nurse home loan

As with any financial decision in life, taking out a nurse home loan in West Virginia comes with pros and cons. However, the pros are pretty impressive. For one thing, these loans are designed to work with the unique financial situations of nurses. As such, they take into consideration the fact that nurses often have multiple jobs (particularly in the case of travel nurses), they offer more flexible qualification criteria, and they offer more manageable down payments.

Some home loan programs even include extra assistance with the home-buying process. This may include help with closing costs for borrowers, down payment assistance programs, and lower minimum credit scores than conventional loans.

In addition, mortgage lenders know that (like all healthcare professionals) nurses have to take out pricey student loans to start their careers, which may lead to a high debt-to-income ratio (DTI). Bearing this in mind, they use more flexible underwriting in their home-buying programs.

The cons? There are a few to keep in mind. Nurse mortgages are less common than conventional mortgages, which means your options may be limited. In some cases, interest rates might be higher, although the total savings from the program often ameliorate this. Finally, you should keep an eye out for any additional fees included in some programs. 

Is a West Virginia nurse loan program right for you?

If you are one of the 470 certified registered nurse anesthetists or 1,860 nurse practitioners, determining if a nurse mortgage in West Virginia is right for you will involve assessing your personal finances, goals, and preferences. These are the steps you should take to make that decision:

  • Evaluate your financial situation. Start by taking a close look at your current financial status, including your income, savings, debt, and, of course, that dreaded credit score! How much can you afford to spend on a home and how will a nurse mortgage loan fit into your overall financial plan for the future?
  • Research nurse mortgage programs. Evaluate the best nurse mortgage programs available in West Virginia. Assess their eligibility requirements, interest rates, down payment requirements, and any other benefits they may offer. Fortunately for you, we’ve listed some of the best mortgage options here, including both fixed-rate and adjustable-rate mortgages.
  • Assess your long-term goals. Factor in your long-term goals and consider how owning a home fits into them. Are you planning to stay in West Virginia for the foreseeable future? How does buying a home align with your career and lifestyle plans as a nursing professional?
  • Review the pros and cons above in detail. Factoring in everything from loan amounts to the financing options available to you will ensure you make the best financial decision. 

What are the most affordable mortgage programs for nurses?

If you’re a first-time homebuyer with a low credit score, one type of nurse loan to consider is an FHA loan. These offer low down payment options of just 3.5%. Although you will have to pay upfront and annual mortgage insurance premiums, you can refinance out of mortgage insurance when your credit improves. This insurance is also still more affordable than private mortgage insurance (PMI).

Another great option for achieving homeownership as a nurse is a USDA loan. This will allow you to purchase real estate in a designated rural area often with no down payment required.

Taking out nurse mortgages in Virginia: a case study

Tori has just finished her nursing courses in Mercersburg and is already employed full-time at a local hospital in Petersburg. As an avid outdoors person, she is hoping to find a healthy work–life balance: working hard but also enjoying time climbing and hiking outdoors. 

She and her husband have an eye on a great, multi-acre property just out of town on the way down to Seneca. Trouble is, she’s not sure they can make the down payment, which may make qualifying for a loan difficult. She needs a way to maximize her leverage in the West Virginia housing market.

Luckily for her, one of her nursing school instructors told her about nurse mortgages in the Mountain State. With the help of a nurse mortgage program, she will be able to qualify for a mortgage on the property without wiping out her savings. With help for closing costs included as well, she and her husband can make an ambitious first-home purchase while staying financially responsible. After talking to a loan officer, Tori finds the perfect mortgage for her needs, which will give her favorable loan terms, including a lower interest rate on her mortgage than would have been possible with a conventional loan.

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.

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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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