If you're an attorney wondering whether your profession opens the door to better mortgage options, the answer is: possibly. Some lenders offer what's known as a “professional mortgage” — a type of home loan designed for high-earning professionals like doctors, lawyers, and others with advanced degrees.
Key Takeaways:
- Attorney mortgages are designed for legal professionals and may offer low or no down payment, no PMI, and more flexible debt-to-income guidelines.
- Student loan debt isn’t always counted against you, making it easier for recent grads to qualify even with limited savings.
- You don’t need years of income history—a signed job offer or employment contract is often enough to get approved.
- Not all lenders offer attorney mortgages, so it’s important to shop around and compare options tailored to legal professionals.
In this article (Skip to...)
- Eligibility criteria for attorney mortgages
- Traditional mortgages vs mortgages for attorneys
- Benefits of mortgages for attorneys
- Securing a mortgage as an attorney
Understanding the role of professional mortgages for attorneys
Attorney mortgages are a type of loan specifically for attorneys and other high-earning professionals. These loan programs are designed to accommodate attorneys and account for many of the unique financial challenges they face early in their careers. Lawyers have high earning potential, but are often saddled with substantial student loan debt.
Mortgages for attorneys come with numerous benefits, including low or no down payment requirements. The debt-to-income (DTI) ratio requirements are flexible and may exclude student loan debt. These loans are also less stringent when it comes to reviewing your income history, which is helpful for attorneys transitioning between firms.
Attorney mortgage programs acknowledge the stability and income potential available to legal professionals. These loans come with more favorable terms than conventional mortgages, allowing attorneys to achieve homeownership earlier in life.
Eligibility criteria for attorney mortgage programs
Here’s the eligibility criteria you’ll need to meet to qualify for an attorney mortgage:
Check your home buying options. Start here- Verification: You’ll need to prove that you passed the bar and are either actively employed at a law firm or have a signed employment contract. Most loan programs accept attorneys at various points in their careers, though the exact requirements will vary depending on your lender.
- Income: The income verification process is also more accommodating, and your lender may accept an employment contract or offer letter instead of a traditional income history.
- DTI ratio: Attorney mortgages may exclude deferred loans or use income-based repayment accounts rather than simply calculating your total debt.
- Credit: Most mortgages for attorneys require a credit score of 700 or higher, though some lenders will accept credit scores as low as 680.
- Down payment: Most lenders will let you apply with a down payment between 0% and 5%.
Traditional mortgages vs. mortgages for attorneys
While conventional mortgages are more widely available, mortgages for attorneys are designed specifically to meet the needs of legal professionals. The following table shows how the two mortgages compare:
Check your home buying options. Start here| Feature | Traditional mortgage | Attorney mortgage |
| Down payment | 3% to 20% | 0% to 5% |
| PMI | Required with a down payment of less than 20% | Usually waived |
| DTI ratio | Student loans are included in DTI ratio | Flexible DTI ratio requirements — student loans may be excluded |
| Income requirements | Must show pay stubs and several years of stable income | Future income is considered |
| Loan limits | Subject to conforming loan limits | May offer higher loan limits or jumbo loans |
| Approval process | Standard underwriting timeline | May come with a streamlined approval process |
Benefits of professional mortgages for attorneys
Find your lowest mortgage rate. Start hereLow down payment requirements
One of the biggest advantages of mortgages for attorneys is the ability to buy a home with a low or even no down payment. Depending on your lender, the down payment requirements can range from 0% to 5%. This allows lawyers to buy a home early in their careers without needing to spend years saving up for a down payment.
No PMI
Most attorney mortgage programs don’t require private mortgage insurance (PMI), even with a down payment below 20%. Lenders often waive PMI because they understand attorneys are low-risk borrowers with stable, long-term earning potential. Avoiding PMI can help new homeowners save hundreds of dollars each month.
Low rates
Some lenders offer discounted mortgage rates or waive certain fees for attorneys. These low rates can save you thousands of dollars over the life of the loan, especially on larger loan balances or jumbo mortgages.
Expedited approval process
Attorney mortgage programs often include a faster underwriting and approval process. Lenders familiar with professional income structures can move more quickly through the approval steps, especially when future income is involved.
Streamlined application
Because these programs are tailored to high-earning professionals, lenders may offer simplified documentation requirements and streamlined applications. For example, your lender may accept a signed employment contract instead of requiring pay stubs. Lenders may also allow digital document submission for faster processing.
Securing a mortgage as an attorney
Here are the steps you’ll take to secure an attorney mortgage:
Time to make a move? Let us find the right mortgage for you1. Understand your financial situation
Before applying, take some time to understand your financial situation. Start by requesting a free copy of your report at AnnualCreditReport.com. If you want to qualify for the best rates and terms on your mortgage, aim for a credit score of 700 or higher. You can improve your score by paying down any credit card debt and correcting errors on your report.
It’s also a good idea to spend some time building up your savings. While a down payment isn’t required, having a financial buffer could strengthen your application. It’ll also make it easier for you to pay closing costs and handle any costs associated with the move.
2. Gather your documents
Next, take some time to gather your documentation so you’ll be ready to apply. Lenders will typically need proof you passed the bar and a copy of an offer letter or job contract. You may also need to provide financial documents, like recent bank statements and information about your student loan repayment status.
3. Find the right mortgage lender
Not all lenders offer attorney mortgages, so you’ll have to do your research. Look for regional banks, credit unions, or private lenders with experience working with lawyers. Once you find a few different options, get prequalified to see what loan terms each lender offers you.
The bottom line on mortgages for attorneys
Mortgages for attorneys offer a path to homeownership for legal professionals by addressing challenges like high student loan debt and limited savings. These loans usually have flexible underwriting requirements, low or no down payment options, and often waive PMI.
If you’re interested in exploring this option, consider contacting lenders specializing in attorney mortgages to find a loan that fits your financial situation.
