JD mortgage question since I've seen talk of it here: I'm a third year looking to purchase a home. If I've saved enough for a down payment of 10% or possibly 20%, is there any benefit to the JD mortgage? Better interest rate? No PMI if 10% down?

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From my understanding, the benefit is if your down payment is less than 20% because you can avoid PMI. I’ve seen both market rates and above market rates for the JD mortgage.

You should ask around your firm though because I know most big law firms have relationships with banks and you can get preferred rates. I’m currently shopping for a mortgage and my firms bank quoted us a better than market rate for less than 10% down and no PMI.

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I believe the primary benefit is no PMI and low down payment requirements (with some lenders allowing zero down)

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Yes, both of those benefits AND a lower required down payment.

Why pay another $25k when you could invest and earn 8%/year on average? Keep that for 30 years at 8% per year and that's $273k ($136k in today's dollars, assuming historical inflation over 30 years).

Especially when inflation is higher than interest rates--you should try to put as little down as possible.

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I don't really see how having $136k less money would bring you peace of mind, but to each their own.

And no, the interest rate will absolutely be below inflation. The average mortgage is still under 4%. Inflation is 7 or 8%.

But even if it isn't less--even if it's even you're giving up $136k in that scenario.

What lenders still offer the JD mortgage? We looked last year but many were paused/canceled due to covid.

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biglawinvestor.com has some resources.

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