Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Mortgage Brokers & Lenders
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago on . Most recent reply

User Stats

31
Posts
12
Votes
Connor Mather
  • Investor
  • California
12
Votes |
31
Posts

Mortgages for Travel Nurses

Connor Mather
  • Investor
  • California
Posted

Lenders,

I am hoping to connect with a lender in NC who understands and also works with travel nurses. For those of you familiar/unfamiliar with how travel nurses are paid I will explain.

Travel nurses taxable hourly rate is usually lower (compared to national rates) between $30-$50/h. Sometimes it will be $30 for the first 8 hours and then $50 for the last 4 hours of the shift. Ultimately this is the pre tax taxable rate that underwriters and lenders care the most about.

The majority of what a travel nurse makes is in their stipend income which is untaxable however often not counted in DTI calculation. For example covid ICU travel nurse contracts have allowed for some nurses to take home 5k a week. However, 4k of that income is through stipends(housing, food, travel reimbursements) and only 1k is taxable w2 income. This makes it look like that nurse effectively makes 40k on a w2 a year when in-fact they might be taking home as much as someone who is making 300k a year in taxable income.

I have yet to find a lender who can help me with this but biggerpockets has never let me down.

Loading replies...