Buy Your Dream Home Without Being Penalized for Medical Debt.
Last updated September 19, 2026
Custom physician home financing engineered for doctors, residents, and dentists across Illinois, Texas, Florida, and Georgia. Close up to 90 days before your residency or attending contract begins with as little as 0% down and zero private mortgage insurance (PMI).
Check Doctor Loan Rates (60 Seconds)No hard credit pull required to check preliminary eligibility. Over $5B funded since 2003.
Program terms as of September 9, 2026; subject to change. Eligibility and closing timing vary by borrower and file. No closing timeline is guaranteed.
Navigating Medical Relocations in FL, GA, IL & TX
Choose your destination to see how we approach the details that can shape a physician mortgage approval.
From Match Day to Move-In in Illinois
Tailored underwriting for incoming fellows and attendings at Northwestern, Rush, and UChicago Medicine. We offer streamlined condo approvals for downtown high-rises and seamless transitions to the collar counties.
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.
Toll Free: 1-866-666-2378 (866-666-BEST)
Also see: all loan products · DSCR loans for investors · jumbo loans · mortgage calculators
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