Doctor's Loan
"Special financing for medical professionals."
Designed specifically for physicians, dentists, and medical professionals. Low down payment, no PMI, and we understand student loan debt doesn't define your financial picture.
0-10%
Min Down
700+
Min Credit
$2M+
Max Loan
Is This Loan Right for You?
This Loan is Perfect If You...
- Medical professional (MD, DO, DDS, DMD, or other eligible profession)
- Significant student loan debt on income-driven repayment plan
- Resident or fellow with employment contract in hand
- Want low or zero down payment without paying PMI
- High income potential but limited current savings
This Might NOT Be Right If...
- Not an eligible medical professional
- Practicing physician for 10+ years (some program restrictions)
- Already have 20% down saved (conventional may offer better rates)
- Purchasing investment property or second home
Doctor's Loan Benefits
Everything you need to know about your benefits
Student Loan Flexibility
IBR/PAYE payments counted at actual payment, not 1% of balance. Your debt-to-income ratio reflects reality.
Future Income Considered
Residents and fellows can qualify based on employment contract, not current salary.
No PMI Required
Skip private mortgage insurance even with low down payment. Save hundreds per month.
Low Down Payments
0-5% down on larger loan amounts than conventional programs typically allow.
High Loan Limits
Finance up to $2M+ without hitting jumbo restrictions or stricter requirements.
Career-Stage Friendly
New residents to established physicians - programs designed for your stage.
How It Works
Your path to homeownership in just a few simple steps
Verify Eligibility
Confirm your profession and career stage qualify for physician mortgage programs.
Employment Documentation
Provide employment contract, medical license, or employment verification letter.
Student Loan Review
We calculate your IBR/PAYE payments correctly to maximize your buying power.
Close & Move In
Streamlined closing process designed for busy medical professionals.
Verify Eligibility
Confirm your profession and career stage qualify for physician mortgage programs.
Employment Documentation
Provide employment contract, medical license, or employment verification letter.
Student Loan Review
We calculate your IBR/PAYE payments correctly to maximize your buying power.
Close & Move In
Streamlined closing process designed for busy medical professionals.
Types of Doctor's Loan
Choose the option that fits your situation
0% Down Program
100% financing for qualified physicians. No down payment required on loans up to $1M in some markets. Best for new attendings with strong income but limited savings.
5% Down Program
Most popular option. Only 5% down on loans up to $1.5M with no PMI. Balance competitive rates with minimal cash outlay.
10% Down Program
10% down unlocks the best rates on loans up to $2M+. Build immediate equity with optimal pricing.
Resident/Fellow Program
Qualify based on employment contract, not current residency salary. Close up to 90 days before completing training.
Things to Consider
A reverse mortgage is a significant financial decision. Here's what you should understand before proceeding.
Career Stage Limits
Some programs restrict physicians practicing 10+ years. Ask about eligibility for your specific situation.
Primary Residence Only
Most doctor loan programs are for primary residences only, not investment properties or second homes.
Loan Servicing
Doctor's loans are often held in portfolio. Verify the lender's servicing policies before committing.
HUD-approved counseling is required to ensure you fully understand these factors before proceeding.
Doctor's Loan vs Conventional: $600K Home
| Conventional | Doctor's Loan(This loan) | |
|---|---|---|
| Down Payment Required | 20% ($120,000) | 5% ($30,000) |
| PMI | None at 20% | None ✓ |
| Student Loan Calculation | 1% of balance | IBR/PAYE payment ✓ |
| Cash Needed at Closing | $120,000+ | $30,000+ |
| Cash Savings | — | $90,000 more in your pocket ✓ |
* Rates and terms subject to change. Contact us for current offers.
Frequently Asked Questions
Common questions about Doctor's Loan
Last updated:
What is a doctor's loan?
A doctor's loan (also called a physician mortgage) is a specialized mortgage designed for medical professionals. It offers unique benefits like no PMI with low down payment, favorable student loan treatment, and the ability to qualify on future income. These loans recognize that doctors have high earning potential despite significant student debt.
Who qualifies for a doctor's loan?
Most programs include MDs, DOs, dentists (DDS/DMD), and residents/fellows. Many also accept podiatrists, optometrists, veterinarians, and pharmacists. Some programs extend to nurse practitioners and physician assistants. Eligibility varies by lender, so ask about your specific profession.
How do doctor's loans handle student loan debt?
Unlike conventional loans that often use 1% of your student loan balance as your "payment," doctor's loans use your actual IBR, PAYE, or REPAYE payment. For someone with $300K in student loans, this could mean a $2,600/month difference in your calculated debt-to-income ratio.
- Yes! This is one of the biggest advantages. Residents can qualify based on their employment contract (showing future attending salary), not their current residency stipend. Most programs allow you to close up to 90 days before completing residency.
- Lenders view physicians as low-risk borrowers due to high earning potential, job stability, and low default rates. This allows them to waive PMI even with minimal down payment. You're essentially pre-approved based on your career trajectory.
- Some programs restrict physicians who have been in practice for 10+ years, as the "new doctor" benefits are designed for those early in their careers. However, many programs have no time limit. Check specific eligibility requirements with your loan officer.
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Get the home you deserve with financing designed for your career
Or call us directly: (757) 558-2603