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    Physician Mortgage Program

    Buy Your Dream Home Without Being Penalized for Medical Debt.

    Last updated October 10, 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 2002.

    Program terms as of September 9, 2026; subject to change. Eligibility and closing timing vary by borrower and file. No closing timeline is guaranteed.

    Local underwriting insight

    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

    FeatureDoctor LoanConventional Loan
    Down paymentAs low as 0%; commonly 0–10%Typically 3–20%
    PMINone, even under 20% downRequired under 20% down
    Student loan debt in DTIExcluded, or income-driven (IDR/IBR) payment used~1% of balance or full payment counted
    Proof of incomeSigned employment contract or match letter accepted before you startUsually requires pay stubs / start date
    Typical max loan~$1M at 0% down; up to $2M+ with a small down paymentConforming limit $832,750 (2026 baseline)
    OccupancyPrimary residencePrimary, 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

    A doctor loan (physician mortgage) is a home loan for physicians and select medical professionals that allows as little as 0% down, requires no PMI, and treats student loan debt using income-driven payment amounts instead of the full balance. It's designed for borrowers with high future income but heavy student debt and a small down payment.

    Often as little as 0% down, with many programs offering 0-10% depending on the loan amount. Higher loan amounts (roughly above $1M) typically require a small down payment, while lower amounts may allow 100% financing.

    No. Physician mortgages waive private mortgage insurance even when you put down less than 20%, which can save several hundred dollars a month compared with a conventional loan at the same down payment.

    Most programs accept MD, DO, DDS, DMD, DPM, and OD professionals, including residents, fellows, and attending physicians. Some lenders extend eligibility to additional doctoral or healthcare professionals. A credit score around 700-720+ is typically expected.

    Yes. Residents and fellows can usually qualify using a signed employment contract or residency match letter as proof of income, often up to 60-90 days before their start date, so they can buy a home when they relocate rather than waiting.

    Physician mortgage underwriting either excludes student loans from the debt-to-income ratio or uses the income-driven (IDR/IBR) monthly payment instead of a percentage of the total balance. This is a major advantage for doctors carrying six-figure education debt.

    Slightly - typically about 0.125% to 0.375% higher than a comparable conventional loan, as a trade-off for no PMI and the lower down payment. For many new physicians the PMI savings offset the rate difference.

    Generally no. Doctor loans are intended for a primary residence you'll live in. For a rental or investment property, a DSCR loan is usually the right tool, since it qualifies on the property's rental income instead.

    Commonly up to around $1M with 0% down, and up to $2M or more with a small down payment, depending on the lender, your income, credit, and location.

    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.

    Get My Rate QuoteStart My ApplicationCall 630-357-1600

    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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