A CRNA home loan allows CRNAs to get a mortgage with a low down payment and a great rate. These home loan programs, sometimes also called doctor loans or medical professional loans, only require a 0% to 10% down payment. Unlike a conventional loan, you don’t need to pay private mortgage insurance (PMI) as a condition of a low-down payment (This will save you a few hundred dollars per month by itself!). You’re also not bound by conventional lending limits, typically $726,200 in most parts of the country.
Underwriting criteria for CRNA mortgages can also be more lenient than traditional mortgages. Here are some examples:
- In many cases, while your student loan debt might hold you back on a traditional loan, CRNA mortgages are a little more forgiving and can be more lenient when underwriting a loan with a large amount of student loan debt.
- CRNA mortgage programs generally accept employment as proof of income to secure housing for up to 90 days before starting a new position. If you are an independent 1099 contractor, though it may be more challenging to find a lender, some will work with you and still give you a favorable rate
- Nurse Anesthetist mortgage loans also will usually accept a future contract as proof of income up to 90 days before your start date
Pretty cool, right?! Without further ado, here are our top 8 lenders catering to CRNA’s:
Flagstar Bank serves Nurse Anesthetist’s in all 50 states and Washington D.C., offering a variety of adjustable-rate mortgages (ARMs). Their loan program allows for 0% down to a $1 million loan amount and waives the requirement for mortgage insurance (PMI).
Also, similar to many other Physician Loan programs, CRNA’s must be within ten years of graduation to qualify for the program.
Bernard Nubla is our recommended lender with Flagstar! Click here to apply now.
States available: Alabama, Alaska, Arizona, Arkansas, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming.
Evolve Bank and Trust has an entire group dedicated to Medical Professionals called Physician’s Capital. They allow the following many different medical professionals to utilize the doctor loan, including CRNA’s.
They offer 0% down on purchases or refinances up to $1 million, 5% down up to $1,250,000, and 10% down options up to $2 million. They offer 5/6, 7/6, and 10/6 ARM (Adjustable Rate Mortgage) products amortized over 30 years.
The one caveat to their program, a very common rule at most physician banks, is that Evolve requires medical professionals to be within ten years of graduating, residency, or fellowship, whichever came last. Evolve does not require mortgage insurance (PMI) for any of the above options. Another positive is that they allow you to own one other home, which is somewhat unique to Pharmacist Mortgages. Generally, you have to be a first-time home buyer to qualify.
Corey Weber is our recommended lender with Evolve Bank and Trust! Click here to apply now.
States available: Alabama, Arizona, Arkansas, California, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming.
Frandsen Bank and Trust also allow pharmacists to utilize their Physician Loan program. They offer low down payment options for loan amounts up to $2 million with no mortgage insurance.
States available: Minnesota and Wisconsin
Consumers Credit Union has a Nurse anesthetist program for CRNA’s working in Indiana and Michigan. They allow a 0% down loan program for loan amounts up to $750,000. They also can take your student loan payments completely out of the equation when qualifying for a loan.
Consumers Credit Union also offers a low-down payment investment property loan for CRNA’s. This program requires 10% down with no mortgage insurance. This is the only CRNA loan we have found to date that allows this unique program to be used on an investment property.
States available: Indiana and Michigan
University Federal Credit Union is based in Texas and primarily serves only that state. They offer a medical professional home loan program that also includes Nurse Anesthetists. Their program allows 0% down on homes up to $850,000. They also allow 5% down up to 1.5 million, the largest loan amount we have seen allowed to CRNA’s at just 5% down.
States available: Texas
Premier Bank also has a program that works with several healthcare professionals, including Nurse 
Anesthetists. They offer 0% down on loan amounts up to $750,000 or 5% down on homes up to $1 million. As far as student loans are concerned, as long as they are deferred for 12 months, they can be omitted from your debt calculations to help you qualify for more.
States available: Indiana, Michigan, Ohio, Pennsylvania, West Virginia
FNBO (First National Bank of Omaha) also has a loan program that caters to Nurse anesthetists. Their program allows for 5% down on loan amounts up to $750,000, and 10% down on loan amounts up to $1 million.
States available: Colorado, Iowa, Illinois, Kansas, Missouri, Nebraska, South Dakota, Texas, Wisconsin, and Wyoming
Lastly, First Merchants Bank is also an excellent solution for many Medical Professionals. Their loan, which includes CRNA’s, allows for a 3% down payment on loan amounts up to $350,000 and no PMI.
States available: Indiana, Michigan, Ohio
One Response
I particularly appreciated your detailed insights into various loan programs tailored specifically for nurse anesthetists. It’s clear you’ve done your research, and your explanations were super clear and concise. Plus, highlighting the importance of finding a lender who understands the nature of our profession and offers flexible terms is invaluable advice.