Zero Down Programs for Nurses
Since nurses have a unique financial profile, we have arranged special financing with 2 local banks and 1 national bank. Nurses usually earn money from several sources, pay a high income tax and often carry a little too much debt. We have mortgage solutions and special low rates programs designed for nurses.
Who Qualifies:
- At least 1 borrower must be a LVN, RN, CNA, LNP
- If you have worked at least 1 hour and are licensed you qualify for the program
- Citizenship is not a requirement
- Traveling nurses OK
How to qualify:
- We have 1 program that allows you to average all your W2s.
- We have 1 program where you can take anticipated income (for example you just graduated and haven't been on the job long or just accepted the best job offer but haven't started).
- We have 1 program called stated income where you don't have to show income documentation at all.
- You still qualify if you are a licensed nurse who is teaching and practicing.
- Most programs require that you have good credit for the last year, be licensed as a nurse, and have cash reserves equal to 2 months of mortgage payments (401k, IRA, or life insurance cash value ok).
How does my credit have to be?
- You can have limited credit
- Credit issues in the past are ok as long as the your lastest year of credit is good
- You can get money back from the lender if your credit scores are 780 or above to pay for closing costs
- As part of our 1 hour free consultation, we review your credit and can give you tips that could increase your credit score up to 100 points in 5 easy steps
How much can I borrow?
- The amounts go as high as $812,000 with 1 lender and $500,000 with another lender. PERS changes their limits with the Fannie Mae limits so please call for the latest details.