Doctor Loans (Physician Mortgage)
A doctor loan is a home loan built for physicians, dentists, and select medical professionals that allows as little as 0% down, charges no PMI, and treats student loans using your income-driven repayment amount instead of the full balance. It's designed for doctors with strong future income but heavy student debt and a small down payment.
Why Physicians Choose Doctor Loans
Built around the reality of a new physician's finances: high future income, heavy student debt, and a small down payment.
0% Down Available
As little as 0% down on many programs, with 0–10% typical depending on loan amount.
No PMI
Physician mortgages waive PMI even when you put down less than 20%, saving hundreds a month.
Student-Debt-Friendly
Student loans are excluded from DTI or the income-driven (IDR/IBR) payment is used instead of the full balance.
Residents & Fellows Welcome
Qualify with a signed employment contract or match letter - often up to 60–90 days before your start date.
Doctor loan vs. conventional loan
| Feature | Doctor Loan | Conventional Loan |
|---|---|---|
| Down payment | As low as 0%; commonly 0–10% | Typically 3–20% |
| PMI | None, even under 20% down | Required under 20% down |
| Student loan debt in DTI | Excluded, or income-driven (IDR/IBR) payment used | ~1% of balance or full payment counted |
| Proof of income | Signed employment contract or match letter accepted before you start | Usually requires pay stubs / start date |
| Typical max loan | ~$1M at 0% down; up to $2M+ with a small down payment | Conforming limit $832,750 (2026 baseline) |
| Occupancy | Primary residence | Primary, second, or investment |
Program details vary by lender. We'll price your exact scenario side-by-side against a conventional loan.
Who qualifies for a doctor loan?
Eligibility centers on medical and dental degrees. Most programs accept MD, DO, DDS, DMD, DPM, and OD professionals; some lenders extend to additional doctoral and healthcare professionals.
Residents, fellows, and attendings are all commonly eligible. Beyond the degree, lenders typically look for a credit score around 700–720+, a signed employment contract or residency match letter, and the loan to be for a primary residence you'll live in.
Physician loan rates typically run about 0.125%–0.375% higher than comparable conventional rates, as the trade-off for no PMI and a low down payment. For many new physicians the PMI savings offset the rate difference - we'll run both scenarios so you can see the true cost.
$216,659
The average medical school graduate who carries debt owes about $216,659, and ~70% of the class of 2025 graduated with education debt.
Source: AAMC
Program at a Glance
Real numbers, not marketing fluff. Actual terms depend on credit, loan amount, and lender - we'll price your exact scenario in one call.
- Down Payment
- 0% – 10% typical
- PMI
- None
- Typical Max Loan
- ~$1M at 0% down; $2M+ with small down
- Minimum FICO
- ~700–720
- Terms
- 30-yr fixed, 15-yr fixed, ARMs
- Occupancy
- Primary residence
- Eligible Degrees
- MD, DO, DDS, DMD, DPM, OD
- Employment Proof
- Contract or match letter accepted
- Student Loan Treatment
- Excluded or IDR/IBR payment used
- Rate Premium vs. Conventional
- ~0.125% – 0.375%
What You'll Provide
- Signed employment contract or residency match letter
- Photo ID and credit authorization
- Proof of degree (MD, DO, DDS, DMD, DPM, or OD)
- Student loan statements showing IDR/IBR payment amount, if applicable
- Recent pay stubs (attendings) or offer/contract (residents & fellows)
- 2 months of bank statements
We'll also compare your physician loan against a conventional loan side-by-side.
Doctor Loan FAQs
Ready to buy your first physician home?
Get a real doctor loan quote - with actual rate, down payment, and payment - and a side-by-side comparison against a conventional loan.
Also see: all loan products · DSCR loans for investors · mortgage calculators
Related Reading for Physicians
Doctor Loans in 2026: 0% Down and No PMI
How physician mortgages let doctors buy with little or no down payment, skip PMI, and get student debt treated the right way.
Read articleH-1B & NRI Mortgage Guide 2026
Visa-holder and non-resident borrower playbook: down payment, docs, and how to qualify with foreign income.
Read articleBonus Depreciation Is Back to 100% (OBBBA 2026)
How permanent 100% bonus depreciation pairs with DSCR financing to shelter income while keeping your portfolio scaling.
Read article