Reflective cracking is a major distress in hot-mix asphalt (HMA) overlays and is induced in the vicinity of discontinuities beneath the overlay due to environmental and vehicular loading. This study investigated the mixed-mode fracture mechanism of load-associated reflective cracking in HMA overlay placed on jointed concrete pavement (JCP). Using a three-dimensional finite element model, the joint response to loading was evaluated using virtual falling weight deflectometer (FWD) testing. In addition, a transient moving vehicular load was applied on the HMA overlay surface. The behavior of reflective cracking was investigated with respect to bearing capacity as well as load transfer efficiency (LTE) of the JCP. Reflective cracking potential was investigated using FWD average deflection, δ ave, and deflection ratio, δ u/δ l. This study concluded that 1) critical tensile and shear stresses at the joint primarily depend on pavement subgrade bearing capacity and 2) bearing capacity highly affects mode I reflective cracking initiation.