If you're a physician finishing training or relocating for a new role, you've probably been told to wait — save a 20% down payment, season your accounts, come back once you have two years of attending income. A physician home loan exists precisely so you don't have to wait. It's a mortgage program designed around how doctors actually earn, and it routinely unlocks terms a conventional borrower will never see.
This isn't a discount or a gimmick. Lenders treat physicians as the low-risk borrowers they are: high earning potential, strong job security, and very low historical default rates. That risk profile is what makes the math work.
Little or nothing down
The headline benefit is the down payment. Qualified physician borrowers can finance up to 100% of the purchase price — meaning $0 down — on loans up to $1,500,000, or put just a few percent down to reach higher loan amounts. That keeps your cash and savings intact for the move, the new job, and the rest of life.
- Up to 100% financing (no down payment) to $1,500,000 with a 720 FICO
- Up to 100% financing to $2,000,000 with a 720 FICO
- 95% LTV to $2,000,000 with a 680 FICO
No private mortgage insurance (PMI)
On a conventional loan, putting down less than 20% means paying PMI — often hundreds of dollars a month that protect the lender, not you. Physician programs waive mortgage insurance entirely, even above 90% LTV. On a large loan, that single difference can save a meaningful amount every month.
One note on high-LTV loans: for transactions above 90.01% LTV, secondary financing is not allowed. The trade-off is that you also don't pay any mortgage insurance.
Loan amounts built for a physician's home
Physician programs go up to $2,000,000 — room for the home that fits the career you've built, not just the one you can scrape into on a resident's pay stub. Combined with no down payment, that puts a genuinely appropriate home within reach earlier than most physicians expect.
Is it the right move for you?
A physician loan is powerful, but it's still a mortgage — the right call depends on your timeline, how long you plan to stay, and your full financial picture. The best first step is a no-pressure conversation that maps your numbers against the program. That's exactly what we do.