Nurse Practitioner Home Loan

Find Out What You Qualify For

If a lender told you no earlier this year, that answer expired on August 20. Takes about 2 minutes and there is no credit pull.

Soft pull only when we move to a preapproval. No SSN to start.

Who You’re Actually Working With

J.D. Peck, NMLS #314883. 25+ years originating, 3,100+ closed loans, Scotsman Guide Top Originator 2026. Lending in 49 states. VA files are not a sideline here. They are the practice.

The change is specific

A nurse practitioner holding an MSN or a DNP is now an eligible profession. It is not a case-by-case exception and it does not require a workaround.

It is genuinely new

The product profile dated August 6, 2026 does not list nurse practitioners anywhere in its eligible borrower section. The designation was added two weeks later.

Most sources have not caught up

Lender pages, comparison sites, and any AI assistant trained before this month will tell you NPs do not qualify for physician loans. That was true for years. It stopped being true this month.

What did not change

Physician assistants remain ineligible. NPs and PAs get grouped together constantly, and on this program they are treated completely differently.

Nurse practitioner: MSN or DNP

Either credential works. A master of science in nursing is enough. You do not need a doctorate.

Nurse anesthetist: DNAP or DNP only

A CRNA must hold a doctoral credential. A CRNA whose highest degree is a master’s does not meet the requirement. Same profession family, stricter rule.

Physician assistant: not eligible

PAs are not on the list. If you are a PA, this is not your program, but conventional and VA financing still are and we will price those instead of sending you away.

Residents, fellows, and interns

Eligible when holding one of the qualifying degrees. Training status does not disqualify you. Several parts of the program are built around it.

You must be in active practice

The eligible borrower language requires holding the designation as a medical professional in active practice. Professors, medical directors, and similar titles need active clinical duties written into the contract. A qualifying degree attached to a purely administrative or teaching role does not clear it.

An NP with a master’s qualifies. A CRNA with a master’s does not. Two nursing credentials, two different rules, and it decides the file.

There is nothing to appeal

The eligibility list changed. You reapply as an eligible borrower. No explanation letter, no exception request.

Send us the denial

If you still have the letter or the email, send it over. We will tell you within a day whether the decline was the profession rule, a lender overlay, or something in the file that still needs work.

Old inquiries have aged

If you shopped earlier in the year, those hard inquiries have had time to settle. That usually helps.

100% financing to $1,500,000 at a 680 score

Full financing on a primary residence with no down payment required at that tier.

100% financing to $2,000,000 at a 720 score

The higher tier needs the stronger score. Maximum loan amount on the program is $2,000,000.

95% to $2,000,000 at a 680 score

The 95 percent tier allows a debt-to-income ratio up to 50 percent, where the 100 percent tiers cap at 45 percent.

No monthly mortgage insurance at any loan-to-value

None, ever. On a conventional loan above 80 percent you pay PMI monthly until you reach 20 percent equity. On FHA the monthly premium usually runs the life of the loan. That is the whole point of this program.

Minimum loan $100,000 fixed, $350,000 ARM

15, 20, 25, and 30 year fixed, plus 5/6, 7/6, and 10/6 SOFR ARMs. The 15 year fixed and all ARMs cap debt-to-income at 45 percent.

Purchase and rate-and-term refinance only

There is no cash-out option on this program. If you need equity out, that is a different loan and we will structure it separately.

You cannot put 20 percent down on this loan

Because the minimum LTV is 90.01 percent, your down payment is effectively capped just under 10 percent. If you were planning to put more down, this program is not the right container for that money and a conventional loan will likely price better.

That is not a defect, it is the trade

The program exists to solve the down payment and mortgage insurance problem for clinicians who have income and credentials but not liquid savings. If you already have 20 percent, you do not have the problem this program solves.

Which means the comparison is worth running

We price this against conventional every time rather than assuming the physician program wins. Sometimes it does not, and you should see both.

Buying Before You Start the Job?

A signed contract is often enough to close before your first shift. We build the timeline around your start date instead of asking you to wait for paystubs.

25+ years, 3,100+ closed loans, lending in 49 states.

The contract has to be fully executed

Signed by all parties. A verbal offer, a draft, or an unsigned letter of intent will not work.

Start date within 150 days of the note date

That is a wide window. It means you can close months before you actually begin, which is exactly what a relocation needs.

It must state title, start date, and compensation

Salary or compensation details have to cover at least a 12 month period so the underwriter can calculate qualifying income.

Only two kinds of contingencies are allowed

Receipt of your medical license, or normal administrative items such as background checks, drug testing, and fingerprinting. A contract contingent on anything else will not work as projected income.

Contractor and 1099 roles are different

If you are hired as a contractor or 1099 employee, the start date must fall within 60 days of closing, not 150. The contract also has to specify your rate and the minimum hours, units, or assignments available, and confirm you are not responsible for unreimbursed business expenses.

Housing allowance counts during training

If you are in or entering a residency or clinical fellowship, a housing allowance can be included in qualifying income with less than 12 months of history, as long as it is paid in cash directly to you rather than as a rent credit or paid to a landlord.

Reserves have to cover the gap

Closing 150 days out is allowed, but it is not free. When you qualify on projected income you must document a full monthly housing payment in reserve for every month between the note date and your start date, and that is on top of the program’s base reserve requirement rather than instead of it. Close five months early and you need roughly five extra months of payments sitting in an account. Gift funds are eligible for reserves.

Gift funds cannot pay off debt

As of the August 2026 update, gift funds may not be used to pay off debt on this program. That matters if you were planning to have family clear a car loan or a credit card to fix your debt-to-income ratio. On other loan types that move works. Not here.

Manual underwriting is required

Desktop Underwriter and Loan Product Advisor are both disallowed. A person underwrites the file against the program guidelines. That is normal here and it is why the profession list matters so precisely.

Primary residence, one unit

Single family, warrantable condo, PUD, and modular homes are eligible. Two to four units, second homes, investment property, and manufactured or mobile homes are not.

Four years of seasoning on derogatory events

Shorter than the seven years most jumbo programs require after a foreclosure.

No temporary buydowns, no interest-only, no subordinate financing

You also cannot stack a second lien behind this loan at closing, and prepayment penalties are not permitted on the program.

First-time buyers allowed with no restrictions

Being a first-time homebuyer neither helps nor hurts you here.

Geographic limits

Not available in New York. Texas is purchase only on this program, with no rate-and-term and no cash-out refinance. Hawaii lava zones 1 and 2 are excluded. We are lending in 49 states.

Non-permanent residents cap at 95 percent

Eligible with lawful residency and an unexpired visa, but the 100 percent tiers are not available and a 24 month US employment history is required.

New grad NP with a signed offer and no start date yet

The contract does the work. We build the file on projected income and time the closing to your start date rather than making you season paystubs first.

NP relocating for a new role

Selling in one state and buying in another with the start date driving everything. The 150 day window gives real room to sequence it so you are not carrying two payments longer than necessary.

NP with six figures of student debt

The single most common reason clinicians assume they cannot buy. Student loan treatment on this program is covered on the physician loan student loans page.

NP who was declined before August 20

The file we expect to see most on this page. Nothing about you changed. The eligibility list did.

NP married to another clinician

Two incomes, two sets of student loans, sometimes two contracts starting on different dates. Workable, but it needs structuring deliberately rather than being discovered in underwriting.

NP in a residency or fellowship with a housing allowance

If the allowance is paid to you in cash and the contract confirms it, it can count toward qualifying income without a 12 month history.

Myth: Physician loans are only for physicians

The program covers a defined list of clinical designations that now includes nurse practitioners, along with dentists, pharmacists, veterinarians, podiatrists, optometry and psychiatry MDs and DOs, and nurse anesthetists.

Myth: I need a doctorate

Not as an NP. An MSN qualifies. The doctoral requirement applies to nurse anesthetists.

Myth: NPs and PAs are treated the same

They are not. Nurse practitioners became eligible in August 2026. Physician assistants did not.

Myth: I should put as much down as I can

You cannot. Minimum loan-to-value is 90.01 percent, so your down payment is capped just under 10 percent. If you have more than that to put down, run conventional alongside it.

Myth: I have to be working before I can buy

A signed employment contract can carry the file with a start date up to 150 days after the note date. Closing before your first day is a normal outcome here.

Myth: 100 percent financing means PMI

There is no monthly mortgage insurance on this program at any loan-to-value. That is the structural advantage over a low down payment conventional loan.

Myth: My student loans disqualify me

They are the reason programs like this exist.

Can a nurse practitioner get a physician loan?

Yes, as of August 20, 2026. PRMG added the nurse practitioner designation to the eligible profession list for its Medical Professionals loan program. An NP holding either an MSN or a DNP qualifies. Before that date nurse practitioners were explicitly ineligible, which is why most published information still says otherwise.

Do I need a DNP, or is an MSN enough?

An MSN is enough. Nurse practitioners qualify with either a master of science in nursing or a doctor of nursing practice. The doctoral requirement people are thinking of applies to nurse anesthetists, where a CRNA must hold a DNAP or DNP and a master’s degree does not meet the requirement.

Are physician assistants eligible too?

No. Physician assistants remain on the ineligible list. NPs and PAs are frequently grouped together in conversation, but on this program they are treated differently. If you are a PA, conventional and VA financing are still open to you and we will price those instead.

I was denied as an NP earlier in 2026. Can I reapply?

Yes, and you should. If the decline was based on the profession list, that decision was accurate when it was made and is no longer accurate. There is nothing to appeal. Send us the denial and we will tell you within a day whether the profession rule was the actual reason.

How much can I borrow as a nurse practitioner?

Up to $1,500,000 at 100 percent financing with a 680 credit score, or up to $2,000,000 at 100 percent with a 720 score. The 95 percent tier reaches $2,000,000 at a 680 score and allows a higher debt-to-income ratio. The maximum loan amount on the program is $2,000,000.

Can I put 20 percent down on a physician loan?

No, and this surprises people. Minimum loan-to-value on the program is 90.01 percent, so your down payment is capped just under 10 percent. The program is built for clinicians who have income and credentials but not a large down payment. If you have 20 percent available, ask us to price a conventional loan alongside it.

Can I buy a home before I start my new NP job?

Usually yes. A fully executed employment contract or offer letter can be used as qualifying income if your start date falls within 150 days of the note date. The contract must state your title, start date, and compensation covering at least 12 months, and may only be contingent on receipt of your license or routine administrative items like a background check. If you are hired as a 1099 contractor instead, the start date has to be within 60 days of closing.

Is there mortgage insurance on a nurse practitioner home loan?

No monthly mortgage insurance at any loan-to-value. That is the structural advantage over a low-down-payment conventional loan, where PMI runs until you reach 20 percent equity, and over FHA, where the monthly premium usually lasts the life of the loan.

What is the debt-to-income limit?

45 percent on the 100 percent financing tiers. Up to 50 percent on the 95 percent tier. The 15 year fixed and all ARM options cap at 45 percent regardless of loan-to-value.

How much do I need in reserves?

At 100 percent financing, three months of full housing payment up to $1,500,000 and six months from $1,500,001 to $2,000,000. At 95 percent financing or below, no reserves are required up to $1,500,000 and three months above that. If you are qualifying on a future start date, add one month of housing payment for every month between closing and your first day, on top of those figures. Gift funds are eligible for reserves.

Can I use this for an investment property or a second home?

No. Primary residence, one unit only. Single family, warrantable condos, PUDs, and modular homes are eligible. Two to four unit properties, second homes, investment property, and manufactured or mobile homes are not. For rental property we use DSCR loans, which qualify on the property’s rent rather than your income.

Can my parents gift me the down payment?

Gift funds are allowed toward the down payment. What changed in August 2026 is that gift funds may not be used to pay off debt on this program. If your plan was to have family clear a car loan or credit card to improve your debt-to-income ratio, that specific use is not permitted here.

Can I get a cash-out refinance on this program?

No. Purchase and rate-and-term refinance only. If you need to pull equity, that is a separate loan and we would look at a HELOC or closed-end second so you keep your first mortgage rate, or a cash-out refinance on a different program.

I am an NP but my role is mostly teaching or administrative. Do I still qualify?

It depends on your contract. The program requires you to hold the designation as a medical professional in active practice, and professors, medical directors, and similar titles must have active clinical duties written into the contract. A qualifying degree paired with a purely administrative or academic role does not meet the requirement.

Is this available in my state?

We are lending in 49 states. New York is the one exception. Texas is purchase only on this program, with no rate-and-term and no cash-out refinance. Texas 50(a)(6) and 50(f)(2) home equity refinances are expressly excluded. Properties in Hawaii lava zones 1 and 2 are excluded.

Does a past bankruptcy or foreclosure disqualify me?

Not necessarily. The program requires four years of seasoning on derogatory credit events, which is considerably shorter than the seven years most jumbo programs require after a foreclosure.

Get a Straight Answer on Your File

Send your situation and, if you have one, the denial you got earlier this year. You will hear back within one business day.

Lending in 49 states. VA, physician, Non-QM, and manual underwriting.

Where these numbers come from

Loan amounts, loan-to-value tiers, credit score minimums, debt-to-income caps, employment contract rules, and property eligibility are taken from the PRMG Medical Professionals Loan Product Profile dated August 6, 2026. Nurse practitioner eligibility and the gift funds restriction come from PRMG Product Update 26-37, dated August 20, 2026.

Reviewed by

J.D. Peck, NMLS #314883. Page last reviewed August 2026.

Guidelines change

Product guidelines are revised regularly and are subject to change without notice. Every figure here is confirmed against the current profile before we quote your file.