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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
• Online
usually responds within 30 minutes
$100M Closed Loans
Alerus Financial is a bank established in 1879 that offers comprehensive financial solutions including banking, mortgage, retirement, and wealth management services.
High-income professionals can utilize Alerus Financial's comprehensive suite of services including wealth management, retirement planning, and personal banking. Their personalized financial strategies include investment management, estate planning, and risk management. Alerus also offers business banking and mortgage services. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 0% | up to $750,000 |
| 5% | up to $1 million |
| 10% | up to $1.5 million |
$100M Closed Loans
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 |
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usually responds within 30 minutes
$100M Closed Loans
First Western Trust, founded in 2004, is a private bank and wealth management company, providing a comprehensive suite of financial services across the Western U.S.
High-income professionals can utilize First Western Trust's services for comprehensive wealth planning and management. Offerings include investment consulting, private banking, trust and estate planning, and retirement planning. Tailored strategies are designed to optimize financial growth and security. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 0% | up to $850,000 |
| 5% | up to $1 million |
| 10% | up to $1.5 million |
$100M Closed Loans
Flagstar Bank is a full-service bank and one of the largest regional banks in the country, offering a broad range of consumer and commercial financial solutions, including banking, home lending, private banking, and wealth management.
High-income professionals can utilize Flagstar's mortgage products which are specifically built for physicians and other high-income professionals. These loans may have flexible qualifications, lower costs than a conventional mortgage, and low or even no down payment. You must be within 10 years of starting your profession. There are also jumbo loan options up to $3 million. Flagstar Bank N.A. is an Equal Housing Lender | Member FDIC. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 10% | up to $3 million |
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usually responds within 30 minutes
$100M Closed Loans
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
$100M Closed Loans
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 |
$100M Closed Loans
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 |
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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 |
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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 |
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usually responds within 30 minutes
$100M Closed Loans
The Federal Savings Bank, founded in 2000, is a veteran-owned, federally chartered bank offering mortgage services and banking products nationwide.
High-income professionals can leverage The Federal Savings Bank's services for tailored banking solutions. These include wealth management, personalized mortgage options, and private banking. The bank also provides advisory services for investment strategies, optimizing financial assets, and long-term financial planning. [ 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
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 |
• Online
usually responds within 30 minutes
$100M Closed Loans
Wintrust Mortgage, established in 1981, is a part of Wintrust Financial Corporation, providing a broad range of customizable mortgage and refinancing solutions across the US.
High-income professionals can take advantage of a wide range of services from Wintrust Mortgage. These include personalized mortgage solutions, refinancing options, and jumbo loans. Wintrust also provides a selection of online tools to assist in managing mortgage payments and planning future finances. [ Read Review → ]
| Down payment | Financing |
|---|---|
| 0% | up to $850,000 |
| 3% | up to $1.25 million |
| 5% | up to $1.5 million |
| 10% | up to $2 million |
| 20% | up to $3 million |
Montana is part of the Mountain West region of the United States and the 41st state admitted into the Union in 1889. The state is known for its big ranches and stunning landscapes, as well as Yellowstone National Park and Glacier National Park. Commonly referred to as “Big Sky Country” and “The Treasure State,” Montana is also the fourth largest state by area and the third smallest in population density. That population includes some 2,750 active physicians.
The housing market in the state is problematic for many Montanans, including its doctors. Though real estate is competitive throughout the state, in Gallatin County, homes averaged just 13 days on the market last month. The demand for housing has caused a number of property owners to list their homes for sale, leading to an over 71% increase in inventory for the same month. The median sales price for the area rose over 37% to $590,000 as well.
For those dentists and doctors who want to buy a home in this competitive market, there could be a bit of help in a Montana physician mortgage loan program. This program makes it possible for qualified buyers to secure a loan with a minimal or even no down payment.
If you are giving careful consideration to taking out a doctor mortgage in Montana, an essential first step is weighing the pros and the cons involved. The pros are many and offer a tailor for many doctors. With a physician loan, you can get:
The special consideration toward student debt is particularly relevant for doctors, many of whom carry this form of debt well into their careers. Loan repayment will kick in during the future, so it can be possible for someone to take on a house that’s more than they can really afford. It’s tempting when you find the perfect spot on the NMLS to come in with no down payment option, but that can also make monthly payments higher in the future. For healthcare providers who are new to the home buying process, a future budget is important.
The downsides of doctor mortgages? There are a few:
Also, your lending institution may require that you open another account with them (i.e. a checking or savings account.) They are looking to build a relationship with you in the long term. A doctor loan program might be the right fit for a recent medical student graduate or someone who has completed residency and has a new job offer in hand. If moving to the state of Montana for a new job, work with a realtor to help find your dream home on the NMLS and then look into whether or not a doctor loan program could help you get the financing you need.
When choosing lenders, always read through the details of the loan repayment program, too. You need to know interest rates and other requirements that could influence your overall costs, such as whether there are any pre-payment penalties on your mortgage. Doctor home loans are often used to help practicing physicians find a new home and secure it with a streamlined home buying process, but it’s important to find the right lender.
Are you a big fan of Big Sky Country? Do you see yourself staying in your job and in Montana for a good while? Then one of these loans may be great for you. Making a commitment to finance a home should typically only happen if you have spent at least 1 or 2 years in your job.
Also take some time to consider that you may be paying a higher interest rate for this financing. This can rack up over the life of your loan, but many physicians who take out doctor mortgages don’t mind this, especially when conventional lenders won’t approve them due to student debt.
When Tucker took out student loans to get through medical school, he never thought about what it would make him look like to the banks. Now that the time has come for him to buy a home, he’s been surprised to hear again and again from conventional lenders that he can’t get approved for a loan. His debt-to-income ratio is too high for the time being, knocking him out of contention. Luckily for Tucker, a local bank is offering doctor mortgages and will give special consideration to his debt, allowing him to purchase his first home.
Max had always heard that physician loans came with higher rates. For this reason, he had held off from getting one, hoping that he would eventually pay down his student debt and save enough to take out a conventional loan with a low rate. He was pleasantly surprised when a colleague at his practice in Boseman alerted him to the fact that a local lender was offering a doctor mortgage with a great rate. Max jumped on the deal, eager to enjoy special consideration of his debt, zero down payment and no PMI.
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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