On mortgages for RNs

Nurses General Nursing

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My husband and I are buying a new home, and I keep hearing about what great mortgage programs there are for nurses, but no one seems to know where to get them from! My mortgage broker is clueless, and I really like the guy. I know there are special mortgage brokers who deal with nurses and doctors, but we're pretty far along in the escrow process and I would love to just pass some information on to my guy.

Anyone know of any banks or credit unions that have mortgage programs specifically for nurses? Hopefully something with 5% down? =)

Thanks a bunch!

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Specializes in Emergency & Trauma/Adult ICU.

I know of no such programs. Nor do I know of financial institutions or brokers who do business only with MDs and/or RNs.

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Specializes in ICU/Critical Care.
LovingL&D said:
My husband and I are buying a new home, and I keep hearing about what great mortgage programs there are for nurses, but no one seems to know where to get them from! My mortgage broker is clueless, and I really like the guy. I know there are special mortgage brokers who deal with nurses and doctors, but we're pretty far along in the escrow process and I would love to just pass some information on to my guy.

Anyone know of any banks or credit unions that have mortgage programs specifically for nurses? Hopefully something with 5% down? ?

Thanks a bunch!

I highly doubt that there are specific mortgages for RNs. I bought a condo in June. I have a conventional mortgage. I paid very little closing costs about 2,000 bucks but I received it back after closing. Stay away from adjustable rate mortgages and don't buy more than you can afford. I'm struggling as it is. I'm single. My mortgage is 1,269 dollars and I pay association dues 237 dollars. I have to work OT just to stay on top of my bills.

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

I refinanced my home 2 years ago with a company that DOES like to do business with nurses and doctors. The reason, stable income! This is a California company so it might not be for everyone. They advertise in a nursing magazine I get. I will have to get the info when I get back from home next week.

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Sometimes these ads are no more than come ons just to get your business. In reality your loan even with these companies is going to depend on your credit score and income not your profession.

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Specializes in ob/gyn med /surg.

we have been living in the same house for 10 years. we had a 15 year mortage at a fixed rate. i am a RN my husband is a lawyer. it is 6 bedrooms and 5 bathrooms ( we have 6 kids) . we are not looking into selling for a long time. our kids grew up in this house and we love the land and we have it fixed the way we like it. the fireplace is huge( they don't make houses like this anymore), we have a victorian home built 1920 and i never got any deals from the bank for being a RN... oh how i wish... that would of been really nice.... i wish you luck buying your new home, it is a buyers market out there... you can get a real good deal.... go for it....

1 Votes
LovingL&D said:
My husband and I are buying a new home, and I keep hearing about what great mortgage programs there are for nurses, but no one seems to know where to get them from! My mortgage broker is clueless, and I really like the guy. I know there are special mortgage brokers who deal with nurses and doctors, but we're pretty far along in the escrow process and I would love to just pass some information on to my guy.

Anyone know of any banks or credit unions that have mortgage programs specifically for nurses? Hopefully something with 5% down? ?

Thanks a bunch!

Some one mention NSO to me, so check with them

good luck

1 Votes

Sometimes the employers have deals in place to help the nurses that work for them, but this is not done all over the country. And is only for specific employers. And this has been around for twenty years or so, not something new.

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Specializes in Government.

No deals for RNs that I know of. However, when we bought our house in 1989 the mortgage lender let us know that they thought of RNs as excellent risks. So that was nice.

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Specializes in Cardiac.

Here in Dayton, Ohio, I noticed in the Real Estate section of the local paper that a mortgage company posted several ads trying to encourage Nurses, police officers, and other civil servants to apply in order to receive special rates. I see these ads every so often in the Sunday's paper.

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In our area, I have occasionally heard of special deals offered related to mortgages, and usually offered for firefighters, police, and teachers. Our 'hometown heroes' etc.

Or sometimes there is incentive to draw these folks into certain neighborhoods.

Which is great, and I am thankful every day for each of those people in our community...however have heard much discussion on why it is nurses seem to be left out or forgotten on the list of these much needed civil servants...

Good luck though!

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There are often loans available for nurses, firefighters, police, and teachers, to name the professions I have heard of,with terms more favorable than to the general public. At least, that's what the ads say.

These might be offered by cities (call the mayor's office or other likely sounding city office) or other government bodies. The reason they make such loans available is to entice the targeted professional to come live in their town, as they think those persons are desirable to have in their area.

I guess just keep checking. I wish I could be more specific. Good luck.

Actually, maybe the office at your hospital that helps new doctors and residents settle in has some real estate professionals who work with the new arrivals. Maybe there would be some leads through that avenue.

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