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Physician Home Loan Program

The mortgage that reads your contract, not just your credit.

Up to 100% financing, no traditional mortgage insurance, and student loans counted the way you actually pay them. Built for residents, fellows, and attendings buying a primary home.

See If I Qualify What is holding my file up

Soft review first. No credit pull to get a straight answer.

Doctor with stethoscope and house keys
100%Financing available, no down payment required
$0Traditional mortgage insurance at any loan-to-value
$2MMaximum loan amount, fixed or adjustable
14 daysTypical approval timeline from application

The real blockers

Three reasons doctors get turned down, and what we do instead.

Almost every physician who walks in here was declined for one of these three. None of them say anything about whether you can afford the house.

Reason 01

Your student loans look like a payment you do not actually make.

Standard underwriting often assumes 1% of your outstanding balance as a monthly obligation. On $250,000 of medical school debt that is a phantom $2,500 a month sitting on your debt-to-income ratio, even while you are in an income-driven plan paying a fraction of it, or in deferment paying nothing.

What we do

We use your documented payment. Your income-driven statement, or your deferment letter if the loan is deferred past closing. The difference on a typical resident file is enough to move a decline into an approval.

$2,500Assumed by standard underwriting
$310Documented income-driven payment
Reason 02

You have a signed contract, and no pay stubs to prove it.

Conventional lenders usually want 30 days on the job and two recent pay stubs. If you are six weeks out from your fellowship end date with an attending offer in hand, you have the income but none of the documents that income normally arrives with.

What we do

Your signed employment contract or offer letter counts as income. Projected earnings can qualify you before your first paycheck clears, so you can close ahead of your start date and move in once rather than twice.

Reason 03

You have no down payment, because you were paying tuition, not saving.

Ten years of training does not leave a 20% down payment behind. And the workaround most lenders offer, a low down payment with mortgage insurance bolted on, quietly adds a few hundred dollars a month to a payment you are already stretching for.

What we do

Up to 100% financing, and no traditional mortgage insurance at any loan-to-value. Not a reduced premium. None. That is the single biggest monthly difference between this loan and the low-down-payment conventional you were probably offered.

Not sure which of the three is blocking you?

Send us the file. A loan officer reads it and tells you which line is the problem, and whether this program clears it.

Book free Consultation Call (972) 245-5626

Before you start

What you need before you start.

Same principle as rounds. Everything gathered up front, nothing surprising you at the end. Bring these and your loan officer can give you a real answer instead of a maybe.

Eligibility and documents

Eight items. Most doctors already have six of them.
  • A qualifying degree, MD, DO, DDS, DMD, or veterinary, or proof of residency or fellowship
  • A credit score of 680 or above
  • Steady income, or a signed employment contract with a clear start date
  • Debt-to-income inside the limit, 45% maximum above 95% loan-to-value, 50% at or below 95%
  • Basic paperwork, tax returns and recent bank statements
  • A property that will be your primary residence
  • A clean recent payment history, thin credit files are fine, late payments are the issue
  • A budget and an area in mind, so we size the pre-approval to a real search
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Who qualifies

Degree held, or in training toward it.
MD DO DDS DMD DVM VMD Residents Fellows Interns

If your designation is not listed, ask. Eligible degree lists vary by investor and we will tell you straight away whether yours is covered.

Closing before your start date

You do not have to wait for your first paycheck. With a signed contract we can work toward a closing that lands before day one, so you unpack once instead of renting for a year first.

What you can buy

Single-family homes and qualifying condos, as your primary residence. Purchase or rate-and-term refinance. Second homes, investment property and manufactured homes fall outside this program.

Applying with someone else

Bringing a co-borrower onto your loan.

A spouse, partner or family member can come onto the loan with you, and they do not need a medical degree. What they do need is finances that help rather than hurt, because theirs become part of the file too.

Co-borrower with physician

The rule that catches people out

Non-occupant co-borrowers are allowed, but their income cannot exceed 50% of total qualifying income. A parent who out-earns you cannot carry the loan for you. They can strengthen it.

Worth thinking about first

A co-borrower brings their credit and their debts with them. Adding someone with a thin score or a car loan and a balance-carrying card can weaken a file that would have been approved on your own. Ask your loan officer to run it both ways before anyone signs anything.

What lenders will look at

Six things, on them as well as on you.
  • Credit score and payment record, since both feed the final decision
  • Existing debt, student loans included, counting toward your combined debt-to-income
  • Income share, capped at 50% of qualifying income for a non-occupant
  • Ownership rights, because a co-borrower shares title to the home
  • Their documentation, tax returns and bank statements, same as yours
  • Their relationship to you, which some programs ask to have on file

Side by side

Against a conventional loan.

Including the part most lenders leave off the page. Physician loans usually carry a slightly higher rate. Here is that trade, in full.

FeaturedPhysician home loanConventional loan
Down paymentAs little as 0%3% to 20%, and the best pricing sits at 20%
Mortgage insuranceNone at any loan-to-valueRequired above 80% loan-to-value, and it comes out of your monthly payment
Student loans in your ratioYour documented income-driven or deferred paymentOften 1% of the balance, whether or not you pay it
Proof of incomeSigned contract or offer letter accepted before you startUsually 30 days on the job and two recent pay stubs
Loan amountUp to $2 million, fixed or adjustableConforming limit, then jumbo underwriting and a bigger down payment
Interest rateCompetitive, typically a small premium of roughly 0.125% to 0.375%The lowest headline rate, if you can produce the down payment and the pay stubs

How that trade usually nets out. On most files the mortgage insurance you are not paying is worth more each month than the small rate premium costs you, and the down payment you keep stays invested or stays liquid. Ask us to run both side by side on your actual numbers. If conventional wins on your file, we will tell you that.

Straight answer

When this is the right loan, and when it is not.

No sales pitch. Read the right column honestly, because a loan that fits badly is expensive in a way that does not show up until year three.

It usually wins when

  • You have strong income or a signed contract, and very little saved for a down payment
  • Medical school debt is inflating your debt-to-income past what a conventional lender will accept
  • You are closing before your start date and have no pay stubs yet
  • You would rather keep your cash invested or liquid than sink it into a down payment
  • You need more than the conforming limit but cannot meet jumbo down payment requirements

Look elsewhere when

  • You already have 20% down and clean pay stubs, where conventional will price better
  • You are buying an investment property or a second home, which this program does not cover
  • There is a real chance you move within two or three years, since 100% financing leaves no equity cushion
  • Your score is below 680 today, in which case fix that first and buy in a few months
  • The only way the payment works is by borrowing the absolute maximum you are approved for

Decided it fits? Let us put a number on it.

A pre-approval sized to your contract and your real student loan payment, not to a formula. Usually back to you the same week.

Get My Pre-Approval

How it runs

Four steps, one loan officer.

The same person from your first question to your closing table. No handoffs, no re-explaining your contract to somebody new.

Step 01

A real conversation

Fifteen minutes on your contract, your loans and your timeline. You leave knowing whether this works.

Step 02

Pre-approval

Documents in, a number out, in writing. Strong enough to put in front of a seller.

Step 03

Underwriting

We handle the student loan documentation and the contract-based income. Most files clear in about 14 days.

Step 04

Closing

Scheduled around your rotation and your start date, not around banking hours.

What working with us gets you

Nine things you get working with us.

01

No mortgage insurance

At any loan-to-value, on any term. It never appears in your payment.

02

Projected income counts

Your signed contract qualifies you before your first paycheck arrives.

03

Loans to $2 million

Room for the house you will still want in ten years.

04

Shorter term, faster equity

A lower rate and quicker equity build if the payment is comfortable.

05

Longer term, lower payment

Breathing room in the early attending years when cash is tight.

06

Fixed or adjustable

Steady for the long stay, lower to start if you expect to move.

07

Refinance later

Rate-and-term options as your income and your plans change.

08

One dedicated loan officer

The same name and number from question one to closing day.

09

Twenty-eight years of files

Including a lot that other lenders had already declined.

What Our Clients Say

Read more reviews

Questions doctors ask us.

Tell your loan officer the day it happens. In most cases a new signed contract with updated terms keeps the application moving, as long as it still meets program guidelines. The risk is not the job change, it is finding out about it late.

Both. Purchase and rate-and-term refinance on your primary residence are covered. If you want a lower rate or a different term as your income changes, we can walk through the options.

Single-family homes and qualifying condos both work. Manufactured homes, investment properties and second homes typically do not, since the program is written for primary residences.

Both are available. A fixed rate keeps the payment steady, which suits a long stay. An adjustable rate can start lower, which can suit you if there is a realistic chance you move or refinance inside the initial period. Your loan officer will price both.

We work toward approval in as little as 14 days from application. Complete documents on day one are what makes that timeline hold.

No traditional mortgage insurance, at any loan-to-value on this program. That is the structural difference from a low-down-payment conventional loan, and on most files it is worth more each month than the small rate premium costs.

Bring us the file everyone else said no to.

Tell us where you are, residency, fellowship, or first attending contract. We will tell you what you can borrow and what is standing in the way, before you spend a weekend at open houses.

See If I Qualify Call (972) 245-5626

Soft review first, no credit pull to get an answer. Straight talk either way.

Financing a practice or a medical office instead?

That is a different product with different underwriting.

See commercial loans for medical professionals

Other programs doctors ask us about: Jumbo loans High debt-to-income Self-employed, no tax returns H-1B visa home loans Conventional loans

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