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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
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Bank of America, founded in 1904, is a leading global financial institution offering a broad range of banking, investing, asset management, and other financial and risk management products and services.
High-income professionals can take advantage of various services from Bank of America, including personalized wealth management, advanced investment strategies, and dedicated advisors for financial planning. They also offer specialized banking services, flexible mortgage options, and exclusive rewards and benefits. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 3% | up to $825,000 |
| 5% | up to $1 million |
| 10% | up to $1.5 million |
| 15% | up to $2 million |
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BankMD, founded in 2005 and operating via bankmd.com, specializes in providing financial services to medical professionals with a focus on personal loans and wealth management.
High-income professionals can access a suite of services from BankMD, including specialized banking, lending, and investment solutions. The bank's offerings are tailored to meet the unique financial needs of medical professionals, helping them manage and grow their wealth effectively. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 0% | up to $850,000 |
| 5% | up to $1 million |
| 10% | up to $2 million |
| 15% | up to $3 million |
• Online
usually responds within 30 minutes
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Berkshire Bank, established in 1846, is a Massachusetts-based community bank offering comprehensive personal, business banking, and wealth management services.
High-income professionals can access numerous services from Berkshire Bank. These include wealth management, financial planning, private banking, comprehensive investment strategies, and retirement planning. The bank also offers tailored lending solutions, estate planning, and insurance services to protect their wealth. [ 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
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Citizens Bank, founded in 1828, is a major U.S. commercial bank offering a comprehensive range of retail and commercial banking products and services.
High-income professionals can take advantage of various services from Citizens Bank, including wealth management and investment opportunities. They also offer private banking, retirement planning, and estate services. High-net-worth individuals can benefit from personalized financial strategies, designed to optimize their wealth and secure their financial futures. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 5% | up to $850,000 |
| 10% | up to $1 million |
| 15% | up to $1.5 million |
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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 → ]
| 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
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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
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Keybank, established in 1825, is a regional bank headquartered in Cleveland, Ohio, offering a variety of financial services including retail and commercial banking, investment management, and consumer lending.
High-income professionals at Keybank are provided with comprehensive financial services. These include wealth management, specialized lending, and tailored banking solutions. They also have access to financial planning tools, investment strategy assistance, and estate planning. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 15% | up to $2 million |
| 20% | up to $3.5 million |
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Laurel Road, established in 2013, is a fintech company known for its online lending platform, providing student loan refinancing, mortgages, and personal loans.
High-income professionals can leverage Laurel Road's services for personalized financial solutions. The platform offers student loan refinancing, personal loans, mortgages, and high-yield savings accounts. It also provides digital banking services with attractive interest rates, emphasizing transparency and customer support. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 10% | Varies |
• Online
usually responds within 30 minutes
$100M Closed Loans
Leader Bank, established in 2002, is a Massachusetts-based community bank that offers personal and business banking services with a strong digital focus.
High-income professionals can take advantage of Leader Bank's comprehensive suite of services. These include personalized banking solutions, mortgage services, commercial lending, equipment financing, and wealth management. Leader Bank prioritizes convenience with online and mobile banking options. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 10% | Varies |
• Online
usually responds within 30 minutes
$100M Closed Loans
Northpointe, founded in 1999, is a Michigan-based online banking institution providing comprehensive financial services, including checking, savings, and loans.
High-income professionals can leverage Northpointe's comprehensive financial services, which include high-yield checking and savings accounts, competitive mortgage loans, and tailored lending options. The firm also offers personalized wealth management and investment strategies to optimize asset growth. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 0% | up to $850,000 |
| 10% | up to $1 million |
• Online
usually responds within 30 minutes
$100M Closed Loans
PNC Bank, established in 1845, is a comprehensive financial services corporation offering a wide range of services including retail banking, asset management, and corporate banking.
High-income professionals can benefit from PNC Bank's tailored wealth management and financial planning services. These include investment advising, estate planning, and private banking. PNC also offers specialty services such as asset management for executives and business succession planning. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 5% | up to $1 million |
| 10% | up to $1.5 million |
| 15% | up to $2 million |
| 20% | Varies |
• Online
usually responds within 30 minutes
$100M Closed Loans
TD Bank, founded in 1852, is a leading North American banking service, offering a comprehensive range of retail, small business, and commercial banking products and services.
High-income professionals are catered to by TD Bank through distinct services such as wealth management, private banking, and estate planning. This includes personalized financial strategies, access to dedicated banking specialists, and advice on wealth preservation and transfer. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 10% | up to $2 million |
• Online
usually responds within 30 minutes
$100M Closed Loans
The Huntington National Bank, established in 1866, is a full-service banking provider serving consumers, small businesses, and commercial markets primarily in the Midwest and Southeast U.S.
High-income professionals can leverage Huntington National Bank's wealth management services, which include financial planning, investment management, private banking, and trust services. These offerings are designed to optimize wealth growth, sustain income, and secure financial futures. [ 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
Truist, formed by the merger of BB&T and SunTrust in 2019, is a leading banking institution offering a comprehensive range of financial services across the United States.
High-income professionals benefit from Truist's comprehensive wealth management services. These services include personalized financial planning, investment management, estate planning, and risk management. Truist also offers tailored lending solutions and private banking options to meet unique financial needs. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 10% | up to $2 million |
Noted for its dense forests and beautiful parks, Vermont is a highly desirable, often affluent state in New England. It’s noted as being the home of over 100 19th-century homes, beautiful covered wooden bridges, and offers quality artisan wares including things like organic products and maple syrup. In addition to this, many come in the winter to ski the slopes of the mountains. The college town of Burlington, home of the University of Vermont, is a popular destination. As a desirable place to live, it can be a challenge for some to buy into this market, even for the over 2400 doctors living and working in the state.
Prices are also rising in Vermont as they are in other states. The Vermont Association of Realtors reports that median sale price was $383,050, which is a 28% increase over the previous year.
Considering this, providers like doctors and dentists planning to buy in Vermont may wish to seek out the physician’s mortgage loan program in the state when they buy or refinance a home. For qualified health care professionals, this may reduce down payment requirements, sometimes eliminating them.
Any financial product comes with upsides and downsides. For doctors, the rub is that a physician loan comes with upsides that answer directly to their needs. Student debt, for example, is given very favorable consideration during the underwriting process of these loans. A doctor mortgage also offers higher limits than conventional mortgages, does not require PMI, and can come with zero money down.
Finally, many doctors enjoy the fact that you can get approved for a physician loan off of an offer letter alone, allowing them to sidestep the unrealistic underwriting requirements of conventional loans.
The downside? All of that can mean that you will need to pay a higher interest rate. The good news is that there are sometimes doctor mortgages out there that offer pretty competitive rates. Regardless, many professionals feel that a higher rate is worth everything else that comes with a physician loan. The other downside is that some loans aren’t available to all medical professionals, like physician assistants and nurse practitioners.
That’s a reasonable question to ask. It certainly is if you are at a point in your medical career where you are still dealing with student debt. A Vermont physician loan can also be advantageous for doctors who want to enjoy higher loan limits in an expensive housing market.
When are these loans not a great fit? Some doctors may want to wait and try to find a lower rate via a conventional loan. Still others might not want to establish a long-term relationship with a lending bank. A mortgage of any type is also not the best bet if you plan on relocating or finding a new job anytime soon.
Who are the doctors in Vermont that take out physician loans? They include residents, established attendings and a range of other professionals whose stories may very well align with your own.
Living in Vermont means having access to beautiful country and a vibrant outdoor life.. That’s why Devon decided to take on a new position at Southwestern in Bennington. With prices as crazy as they are, however, Devon is looking at a down payment upwards of 100k or more. He has some money saved up, but not enough to qualify for a conventional mortgage. He decided to turn to a physician loan instead that is offering 100 percent financing. The higher loan amount will also increase his options as he looks around for a new house.
Sherilyn has been working as an OB-GYN in Montpelier for nearly 15 years. She has always been careful with money, and she doesn’t like to pay a lot for financing in the form of a high interest rate. Fortunately, a local lender is offering doctor mortgages at a great rate, meaning she can enjoy the other benefits of a physician loan without paying too high a price for her taste.
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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