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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
Nevada is known for many things, including the always fun Las Vegas. As a part of the Western Region of the United States, the so-called “Silver State” or “Sagebrush State,” is also home to several natural wonders, such as Red Rocks and the Great Basin National Park.The 36th state to join the United States, Nevada is also home to over 6,400 practicing physicians.
For many, even doctors and professionals, owning a home in Nevada may seem like a dream. Data from the Las Vegas Realtor shows the average sales price for single-family homes is $771,063. Whereas the average price of a condo or townhome in the area is $330,392.
As a doctor or dentist thinking about making the move to buy property here, a Nevada physician mortgage loan program may offer help. The program allows qualified professionals in the state to obtain a home loan without a significant down payment and sometimes none at all.
When deciding to go with a financial product such as a mortgage, it’s always a good idea to look at pros and cons. Nevada physician home loans come with a lot of pros, including:
Depending on the lender, some borrowers may even receive approval for one of these mortgages before they have even started a new job, provided they have a signed contract.
And the cons of Nevada mortgages for doctors? There are some, including the fact that your lender may want you to open a savings or checking account with them. You also need to be careful with the high limits these loans can come with; that “benefit” could potentially get you underwater with your loan.
Some lenders only offer physician mortgage loans to attending physicians, while other programs can lend to those still in residency or fellowship.
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Medical doctor (MD/DO), Dentist (DMD/DDS), Veterinarians (DVM)
$10M+ Closed Loans
Alerus is a national bank but one that you might not know. They are headquartered in North Dakota but provide mortgage across the country.
Alerus has some other interesting features, including a $20,000 closing guarantee. It's a benefit paid to the seller if the loan doesn't close per the terms of the pre-approval letter. In other words, it's something you can use to make your offer look more attractive in a competitive market. [ Read Review ]
Medical doctor (MD/DO), Dentist (DMD/DDS), Veterinarians (DVM)
| Down payment | Financing |
|---|---|
| 0% | up to $750 thousand |
| 5% | up to $1 million |
| 10% | above $1.5 million |
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Medical doctor (MD, DO); Dentist (DMD, DDS); Pharmacists, Chiropractor, Veterinarian, Fellows, Residents
$50M+ Closed Loans
Wintrust is headquartered in Illinois but can lend in all 50 states (unfortunately, their doctor program is not available everywhere). They originate in excess of $4 billion in mortgages annually.
The Wintrust physician mortgage program can use 1099 contract income to qualify for underwriter approval. Student loan payments aren't included in the DTI calculation if there is no scheduled student loan payment for the next 12 months. [ Read Review ]
Medical doctor (MD, DO); Dentist (DMD, DDS); Pharmacists, Chiropractor, Veterinarian, Fellows, Residents
| Down payment | Financing |
|---|---|
| 0% | up to $850 thousand |
| 3% | up to $1.25 million |
| 5% | up to $1.5 million |
| 10% | up to $2 million |
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Medical doctor (MD); Dentist (DMD, DDS); Fellows, Residents
$500M+ Closed Loans
Citizens Bank is one of the largest banks in the United States. We bet you didn't know that it is head-quartered in the smallest state: Rhode Island.
With over $160 billion in assets, it's no surprise that Citizens offers a full range of financial products, including a physician loan. New medical professional graduates who are under contract for residency within 60 days of closing and have not yet obtained a license are eligible. No more than 10 years out of residency. Self-employed professionals are eligible with a two-year history of self-employment income. [ Read Review ]
Medical doctor (MD); Dentist (DMD, DDS); Fellows, Residents
| Down payment | Financing |
|---|---|
| 5% | up to $850 thousand |
| 10% | up to $1 million |
| 15% | up to $1.5 million |
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Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)
$10M+ Closed Loans
Keybank is a major national bank based in Ohio with a competitive doctor mortgage program. They also lend across a large part of the United States.
The Keybank doctor mortgage program does not require you to be a minimum or maximum number of years out of medical school to qualify. They also offer large mortgage options if needed and part of your down payment can be supplied in money that you've received as a gift. [ Read Review ]
Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 15% | above $2 million |
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Medical doctor (MD/DO); Dentist (DMD, DDS), Pharmacist (Pharm D), Attorney (JD), Veterinarian (DVM), Physician Assistant, Registered Nurse (RN/NP/CRNA), ATP Pilots, CPA
$500M+ Closed Loans
Flagstar Bank was chartered in 1987 and holds around $23 billion in assets, making it a medium sized bank. However, they punch above their weight when it comes to mortgages.
The bank is the sixth largest bank mortgage originator nationally. They only offer ARM products when it comes to doctor mortgages but their ability to lend in all 50 states means they're a player at every closing. There is no application fee or prepayment penalties. They also offer a float down, buy down, and recast option. [ Read Review ]
Medical doctor (MD/DO); Dentist (DMD, DDS), Pharmacist (Pharm D), Attorney (JD), Veterinarian (DVM), Physician Assistant, Registered Nurse (RN/NP/CRNA), ATP Pilots, CPA
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 20% | up to $2 million |
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usually responds within 30 minutes
Medical doctor (MD/DO); Lawyers(JD), Residents, Fellows
$500M+ Closed Loans
US Bank has a great doctor mortgage program but it isn't advertised on the bank's website. You'll have to contact them directly.
US Bank is able to lend in all 50 states, meaning this program is available to most of the country's doctors and physicians. The downside is that the program is fairly limited. For example, dentists, pharmacists and nurses aren't eligible. [ Read Review ]
Medical doctor (MD/DO); Lawyers (JD), Residents, Fellows
| Down payment | Financing |
|---|---|
| 5% | up to $1 million |
| 10% | up to $1.5 million |
| 15% | up to $2 million |
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usually responds within 30 minutes
Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)
$10M+ Closed Loans
Laurel Road used to be an independent bank but is now owned by Keycorp and part of the Keybank family. They focus on financial products for healthcare professionals.
Laurel Road has a middle of the road doctor mortgage program. It's available in all 50 states but limited to healthcare professionals and only goes up to $1 million. Retired doctors are not eligible. [ Read Review ]
Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
If you are a doctor, dentist, or other healthcare professional in Nevada considering a physician mortgage, ask yourself a few questions about where you are in life. Is your job one that you see yourself doing for years moving forward? Are you comfortable with where you are in Nevada, and do you want to stay there permanently? If that is the case, committing to a mortgage is a great option for your financial future.
It can also benefit you to assess how you feel about paying an interest rate that may be higher than ones associated with conventional loans. While you get the doctor-specific benefits associated with a physician mortgage, they can come at the cost of a higher rate. Finally, you can only use a doctor mortgage to purchase a primary home.
Many doctors across Nevada are taking out physician loans to purchase their primary home. Their stories may resonate with you, so we’ve included a few below.
Ned, a first-time homebuyer, never thought the words “DTI ratio” would mean so much to him. He didn’t even know what a DTI was about until he decided to try and purchase a house after becoming an attending at Henderson Hospital. He was shocked to hear from lenders after submitting his contact information that, despite his excellent income, he was still a risk given the size of his student debt.
Fortunately, he heard about a lender in town offering doctor mortgages. This lender would give his student loan repayments special consideration and not hold them against his viability as an applicant. He ended up getting a doctor mortgage and purchasing his first home.
Rebecca worked hard to get her dental practice just outside Paradise off to a good start. Her next step now is homeownership. The problem is she was left with very little cash in the bank after putting so much into her studies and practice. A conventional loan was beyond reach, especially given the prices in Nevada and she didn’t want to pay mortgage insurance with an FHA loan.
She would need over 100k to put down on a home. Instead, she has decided to get a Nevada physician mortgage loan from a local lender. They have offered her great terms with 100 percent financing, helping to make her dream of a home possible.
If you’re looking to explore the best physician loans in other states, click on your state below.
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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