Home buying for nurses...

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Hi,

Does anybody know if there are special home buying discounts or programs for nurses? I know there are some for police officers and fire fighters but can't find any info for nurses. Thanks.

I know it's a little off topic just didn't know where to put this one. :coollook:

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Specializes in hospice.

I dont know, but if you find any info please post. wouldnt that be GREAT????

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Specializes in ICU, ER, HH, NICU, now FNP.

My husband is a mortgage loan officer. There are not any specific programs in Texas, but I will have him ask his multi-state experts about others places.

In general, nurses do ok on the home mortage thing cuz they know you will almost always have a job making decent money.

On the other end - there are a LOT of sharks in the mortgage business, do your homework and read every line before you sign ANYTHING! He has heard some real horror stories about people who didn't realize what they were signing. Many mortgage companies or realtors offer free classes on how to buy a home and get a good mortgage. They do this to drum up business for themselves of course, but there is no real obligation and it's an opportunity to learn a lot.

In addition, talk to your mortgage banker at least a year ahead (or more) if at all possible so that he can help you take care of any problems that might exist. For example - one couple decided they wanted to buy a home last minute. To their knowledge there were no credit problems, but their report came back with all kinds of issues because someone had stolen one of their identities. It took months to clean that up, and the home they had put a contract on they weren't able to close on. What a nightmare.

I will have him check on specific programs for nurses tomorrow.

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Check with Human Resources. I know a previous hospital I worked at offered a discount for nurses who wanted to buy a home.

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Specializes in O.R., ED, M/S.

I did my re-fi with a mortgage company that specialized with nursing professionals. In fact, I am re-fi again to pull some equity out to do some work on my house and pay off a few bills. I think it is Rx mortgage in Agoura Hills in California. I am not sure if they can help outside the state. They liked working with RNs because they knew the job was very secure and highly unlikely to lose it.

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Specializes in Specializes in L/D, newborn, GYN, LTC, Dialysis.
gauge14iv said:
My husband is a mortgage loan officer. There are not any specific programs in Texas, but I will have him ask his multi-state experts about others places.

In general, nurses do ok on the home mortage thing cuz they know you will almost always have a job making decent money.

On the other end - there are a LOT of sharks in the mortgage business, do your homework and read every line before you sign ANYTHING! He has heard some real horror stories about people who didn't realize what they were signing. Many mortgage companies or realtors offer free classes on how to buy a home and get a good mortgage. They do this to drum up business for themselves of course, but there is no real obligation and it's an opportunity to learn a lot.

In addition, talk to your mortgage banker at least a year ahead (or more) if at all possible so that he can help you take care of any problems that might exist. For example - one couple decided they wanted to buy a home last minute. To their knowledge there were no credit problems, but their report came back with all kinds of issues because someone had stolen one of their identities. It took months to clean that up, and the home they had put a contract on they weren't able to close on. What a nightmare.

I will have him check on specific programs for nurses tomorrow.

Excellent post! TY for the information! wave.gif.f76ccbc7287c56e63c3d7e6d800ab6c

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Thank guys! I want to buy a home by mid-july next year so I'm looking into everything. They should have something for nurses just like they do for firemen and police officers and military personel. Hope I find something. I'm in FL though.

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Specializes in ICU, ER, HH, NICU, now FNP.

My hubby said to his knowledge they do not - nurses make more money than teachers, police officers and military personnel.

Sounds about right to me LOL!

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gauge14iv said:
My hubby said to his knowledge they do not - nurses make more money than teachers, police officers and military personnel.

Sounds about right to me LOL!

Gee... I didn't think nurses made more money than the others. I'm a new grad anyway so how would I know who has not started working yet... :rotfl:

Thanks for the info...

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nursing 101 said:
Thank guys! I want to buy a home by mid-july next year so I'm looking into everything. They should have something for nurses just like they do for firemen and police officers and military personel. Hope I find something. I'm in FL though.

Actually yes there is a program in Florida. Gov Bush announced a program about 3 years ago to aid in purchase with low down payment, low intrest loans for nursing personnel, including EMT's, and other allied health professionals with a state certificate or license.

I believe Fannie Mae was one of the participating lenders, and it is called a "community based loan"..

You may be able to find some more info on their website, also check the ACHA website for Florida ( Agency for Healthcare Administration)..I believe that is where I first read the article. Im sorry I dont have direct links for you.

Harbor Federal Bank, in the Central Florida area I believe also was one of the lenders participating.

Good luck to you

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gauge14iv said:
My hubby said to his knowledge they do not - nurses make more money than teachers, police officers and military personnel.

Sounds about right to me LOL!

I would tend to disagree with the above as we all know nurses that work well past their retirement ages of 66-67 BECAUSE they have NO retirement benefits from their employers. This is the national reality.

Also, the only nurses who are making more have been doing the job for many years just like teachers/police/military, who after many years also have higher salaries.

Plus, teachers do not work weekends, holidays, summers, etc. etc. Police get to retire after 25 years, also military WITH benefits.

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Banana River said:
Actually yes there is a program in Florida. Gov Bush announced a program about 3 years ago to aid in purchase with low down payment, low intrest loans for nursing personnel, including EMT's, and other allied health professionals with a state certificate or license.

I believe Fannie Mae was one of the participating lenders, and it is called a "community based loan"..

You may be able to find some more info on their website, also check the ACHA website for Florida ( Agency for Healthcare Administration)..I believe that is where I first read the article. Im sorry I dont have direct links for you.

Harbor Federal Bank, in the Central Florida area I believe also was one of the lenders participating.

Good luck to you

Thanks banana,

I will look into this info and if I do find a link I will post it. I think nurses need to take advantage of anything and everything that is being offered to us. Nurses get paid but they WORK VERY HARD for the money. If there is one profession where you can't slouch off it's nursing.

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