Apply to Registered Nurse, Licensed Vocational Nurse, Clinical Nurse and more! The motivation behind Nurse Home Loan Programs is to educate and connect our Nurses with the best home loan solutions for them all over the country. However, they make up for having higher monthly payments by covering most or all of the down payment with a deferred down payment assistance program. For many years there have been great home loan programs available to medical professions like Physicians, Dentists, Veterinarians and even medical residents, but why did the industry forget about our hard working nurses? Mortgage lenders like the the consistency of the 8-5, Monday-Friday job with predictable income. Profession-specific loans are a common thing. This option is especially helpful for California nurses with bad credit, who will usually have to pay more upfront than other home buyers (who are seen as less risky investments.). We are proud to make homeownership easier for RNs & ARNPs. Combined with the same low income requirements and low interest rates of the VA loan (lower in some cases) and the fact that these loans are available to anyone in the state of California, FHA mortgages are probably the single best mortgage program for nurses in California. CalHERO Home Loan. Unfortunately nurses don’t automatically get access to waived LMI loans but if you can prove you have stable employment with a strong and consistent income we may be able to get you a 85% no LMI home loan. … Home Loans For All: 15950 Dallas Pkwy STE 400, Dallas TX 75248, Bad Credit Home Loans and How To Get Approved. I was connected with a Nurse home loan specialist in just minutes after submitting my information. Learn all about mortgages at Bankrate.com. https://www.homeloansforall.com/home-loans-for-nurses-in-california Perkins Loan Cancellation. They advertise in a nursing magazine I get. A step-by-step guide to becoming a nurse, provided by the California Board of Registered Nursing. You can learn more about FHA loans in California by clicking here. Everyday Hero Housing Assistance Fund (EHHAF) is a fund of Virtual Sports Academy, and a home buying assistance program dedicated to firefighters, police, teachers, medical workers and many other community heroes. Sharing this website to all my coworkers! * This program is only available to qualified borrowers. Another CalHFA program that may be useful for nurses is the MyHome Assistance Program, which can be combined with any mortgage to pay up to 3.5 percent of the down payment with a deferred loan. But, there is hope for single moms looking to get a home loan. Special benefits of our nurse’s home loan* include: Low down payment options; No monthly mortgage insurance required Applicants can be awarded up to three (3) times. Talk to a specialist & explore your financing options. If you have credit between 500 and 579, you will have to pay a higher down payment of up to 10 percent (possibly lower if you are able to provide alternative forms of credit.). On average nurses, doctors, lab techs, and other medical and healthcare professionals save $2,400 when they buy and/or sell a house with us. We believe Nurse Home Loan Programs is the most reliable online resource for mortgage and real estate needs for nurses and we take pride in helping you every day. If awarded, recipients agree to a one-year service obligation practicing direct patient care at a qualified facility in California. The goal of a CalHERO Home Loan is to give back to those who sacrifice their … They usually underwrite the down payment requirements only if you can demonstrate extreme need or a financial situation beyond your control, but if you think that applies for you you can ask your lender today about getting certain requirements underwritten. Terms & Conditions | Privacy Policy. Remember that low credit, bad income, or not being able to save up for a down payment is no reason not to apply for a home loan. Technically, the only loans in the state that you can get with no down payment built right into the loan are the VA and CalVet home loans. The country’s leader in home loan solutions for Nurses. Those awarded the Bachelor of Science in Nursing Loan Repayment may receive up to $10,000. While not strictly for single mothers, it is definitely a loan type worth considering. Holly branches will close at 4pm; Willingboro will continue to close at 3:30 pm (closed on Wednesdays). If you’ve already been accepted for a standard FHA loan, the MyHome Assistance will cover the entire down payment so that you don’t have to pay anything at all upfront! HUD Dollar Homes: Understanding the Dollar Homes ... Florida Housing Assistance For Single Mothers. I highly recommend using Nurse Loan Programs to help you find the right lender for you. Offering First Responder Home Loans with Pride, Integrity & Value Being a first time home buyer I’m so thankful I stumbled upon this website. We know it can be a challenge for nurses to get a home mortgage loan. In addition to offering great counseling services and connecting applicants with FHA and VA loans, they offer a few California home loan for nurses programs of their own. USDA Rural Development home loans also have no down payment in some cases. Offered through the Health Professions Education Foundation, this program awards up to $10,000 for student loan repayment. Who has the money to save up for a big down payment? Down payment and closing cost assistance: Extends a deferred-payment junior loan up to the lesser of 3.5% of the purchase price or appraised value, depending on which loan program you choose. Our Way to Thank You. Refinance Programs also provide a cash-out refinance mortgage (for any reason) up to a 85.00% loan to value. This is a California company so it might not be for everyone. Start exploring homes in your area with top-rated realtors who are specialized to help nurse professionals like you. This often leads to those in the nursing field to continue renting instead of being able to buy their own homes. In this article, we’ve compiled a list of what we think are the very best home loans for nurses in California. CalVet home loans are insured by the California Department of Veterans’ Affairs instead of the federal VA. Michael Plambeck, the founder and owner of Home Loans For All, bridges the gap between our content team and our industry team by being an expert in both areas. They helped me get in touch with the right lender for my state and the service provided was exceptional. Contact today. But these options can’t compare with the safety, security, and freedom of knowing that you live in a place you can call your own. Another option that nurses may be able to use for loan forgiveness is the … Depending on your situation, down payment grants up to $10,681 may be available. And who has the time to go shopping around for all the different home loans for nurses in California that are available? I will have to get the info when I get back from home next week. So if avoiding that initial payment is the most important thing to you and you meet all the other eligibility requirements, the CalPLUS mortgage might be the California nurse home loan for you! Yes, with exceptions for borrowers affected by natural disasters in California or for those using the Indian Home Loan Guarantee Program. Learning opportunities include didactic or classroom experiences, competency-based clinical practice with a qualified RN preceptor, and participation in nursing-focused clinical conferences. The California Housing Finance Agency, or CalHFA, offers a great deal of support to home buyers who are looking for a property within the state of California. The CalHERO™ Mortgage is a California real estate reward savings program for Police, Firefighters, Veterans, Nurses, and Teachers when they buy, sell, or refinance a home. Mortgages for Doctors, Nurses, & Medical Professionals. The program, also known as Section 184 is a home mortgage specifically designed for American Indian and Alaska Native families, Alaska Villages, Tribes, or Tribally Designated Housing Entities. A good place to start is to see what’s available through your local housing authority (a quick Google search will do). It’s a long-term investment in your future whose value can appreciate over time. Some unions give members access to special mortgage offers or rates, so it's worth checking if your membership comes with any benefits. Even if you’re capable of making the individual monthly payments, having to pay a big chunk of money upfront may not be affordable if you haven’t had time to save up or if you have a lot of bills and expenses to take care of. Low Down Payment options up to $1,500,000. VA loans also don’t require a down payment, don’t require you to pay private mortgage insurance, and (usually) have low-interest rates. Some features of our nurse home loans* are: Industry Low Private Mortgage Insurance. The long hours and difficult work mean that you very rarely have time for yourself. I got into my new home in less than 30 days with $0 money down and no mortgage insurance! Salal has served the financial needs of Seattle healthcare workers for decades. More than 50% of VALOR participants are hired as new registered nurses in VA and usually start above the entry-level salary rate established for new graduates. Home jason 2020-05-23T18:28:23-06:00 Welcome to FirefighterMortgages.com, by Bank of England Mortgage. Free Pre-Qualifications and Pre-Approvals. Be A Part of Transforming California Nursing and Apply to be an Advisory Committee Member today! The California State Loan Repayment Program (SLRP) increases the number of primary care physicians, dentists, dental hygienists, physician assistants, nurse practitioners, certified nurse midwives, pharmacists, and mental/behavioral health providers practicing in federally designated California Health Professional Shortage Areas (HPSA). They have most of the same benefits (expanded eligibility, no down payment) but also come with slightly lower interest rates in most cases. CalHERO is often referred to as a mortgage program for heroes, community hero home loan, or a first responder home loan. For example, members of the National Nurses United union and its affiliates can take of mortgage benefits through the AFL-CIO-affiliated Union Plus, that works with Wells Fargo Home Mortgage, giving union members access to specialized mortgage … One of the benefits of working with Homes for Heroes is our Hero Rewards savings. With some creativity from our experienced mortgage brokers, you can still get a … We hope that after reading this article you have learned a bit more about the different home loans for nurses in California that are available and how to secure a California nurse home loan for yourself. Saving up for a down payment is the most difficult part of buying a home for many people. California Housing Finance Agency (CalHFA) - homebuyer programs, including downpayment and closing cost assistance, and foreclosure prevention resources CalVet Home Loans - for Veterans to buy a home in California; Community contacts - find out if your community offers homeownership assistance; Habitat for Humanity - through volunteer labor, builds and rehabilitates houses for families in need Santa Ana’s Downpayment Assistance Loan Program provides eligible applicants up to $40,000 to be put toward the down payment on their new home. FHA loans are also insured by a branch of the federal government – the Federal Housing Administration, from which the name of the program comes.