MD
Medical Doctor (All Specialties)
Physician & Medical Professional Mortgages
Home loans exclusively for
doctors and medical specialists.
Designed for buyers in the medical field who are ready to purchase without traditional mortgage hurdles. Qualify with 0% down, no private mortgage insurance (PMI), and financing up to $2,000,000 using future earning potential and employment contracts.
✓ Up to 100% Doctor Financing
✓ Zero Monthly PMI
✓ Student Loans Excluded from DTI*
✓ Close 60 Days Before Start Date
0%
Down Payment (100% LTV)
$0
Private Mortgage Insurance (No MI)
$2.0M
Maximum 100% Jumbo Limit
680+
Single Score Underwriting
Program Overview & Definition
What is a Physician Mortgage Loan?
A physician mortgage loan is a portfolio home loan tailored for medical professionals, doctors, and residents. Unlike conforming conventional or FHA mortgages that require private mortgage insurance (PMI) or substantial down payments, doctor home loans permit up to 100% loan-to-value (LTV) financing, bypass student loan payments in debt-to-income (DTI) evaluations, and accept signed employment contracts prior to residency or practice start dates.
Transparent Matrix
Physician loan limits and guidelines.
Underwriting parameters structured around loan amounts, required reserve assets, and qualifying credit tiers.
| Loan Amount Tier | Financing (LTV) | Down Payment | Min FICO | Mortgage Insurance | Reserves (>95% LTV) | Max Seller Concessions |
|---|---|---|---|---|---|---|
| $100,000 – $1,500,000 | 90.01% – 100% LTV | 0% Down | 680 1 score required | None (No PMI) | 3 Months PITIA | 3% Max IPC |
| $1,500,001 – $2,000,000 | 90.01% – 100% LTV | 0% Down | 720 1 score required | None (No PMI) | 6 Months PITIA | 3% Max IPC |
• Gift Funds: Verified gift funds are 100% permissible to satisfy required post-closing liquidity reserves.
• Amortization Terms: 15, 20, 25, 30-Year Fixed Rates | 5/6, 7/6, 10/6 Adjustable-Rate Mortgages (ARMs).
Architected for Healthcare Professionals
How medical underwriting works.
✦
100% Doctor Financing with Zero Monthly PMI
Conventional mortgage products mandate 20% down or enforce mandatory private mortgage insurance (PMI), adding substantial monthly carry costs to jumbo balances. This specialized doctor home loan eliminates private mortgage insurance entirely—even at 0% down. Conserve capital for relocations, specialized equipment, or investment portfolios.
No Monthly PMI Required
Financing up to $2,000,000
⚖
Medical Student Loan DTI Exclusion
Medical school loans do not prevent homeownership. Eligible student loans deferred or under Income-Driven Repayment (IDR/IBR) plans can be excluded from total debt-to-income (DTI) calculations or documented using servicer statements.
Flexible DTI Guidelines →
📄
Close Up to 60 Days Before Start Date
Relocating for a surgical residency, medical fellowship, or clinical attending role? You can finalize loan underwriting and close on your home up to 60 days prior to your official start date using your executed employment agreement.
Contract-Based Approvals →
💼
1099 Independent Contractor & Locum Tenens Underwriting
Hospitalists, locum tenens physicians, and practice contractors do not need the typical 2-year self-employment seasoning. If your executed contract defines base compensation (hourly, shift rate, per unit, or assignment) and proves the absence of unreimbursed business expenses, qualifying income can be derived from projected 12-month earnings.
• First 12-Month Projected Earnings
• No 2-Year 1099 Wait Requirement
• Direct Expense Verification Letters
Degree Verification
Eligible medical professions & designations.
At least one qualifying borrower must hold an eligible clinical degree and be actively practicing, in fellowship, or beginning residency:
DO
Doctor of Osteopathic Medicine
DDS & DMD
Dental Surgery & Medicine
PharmD
Doctor of Pharmacy
DVM & VMD
Doctor of Veterinary Medicine
DPM
Doctor of Podiatric Medicine
CRNA
Nurse Anesthetist (DNAP / DNP)
Residents & Fellows
Interns, Fellows & Trainees
Underwriting Parameters
Full program rules and property criteria.
Review underwriting criteria concerning property types, self-employed documentation, and 1099 contractors.
1099 & Contractor Contract Requirements
- Executed Contract Terms: Agreement must specify compensation rates (salary, hourly, per unit, or assignment) and define minimum expected production or hours.
- First 12 Months Projection: Documentation must support calculated gross income for the first 12 months.
- Unreimbursed Expenses: Contract or institutional letter must verify zero required unreimbursed expenses (routine licensing, CE credits, and association dues excluded).
- Prior Tax History: If prior 1099 tax filings show unreimbursed business expenses, standard self-employment schedules apply.
- Start Timeline: Employment start date must be within 60 days of loan closing.
Self-Employed Medical Practice P&L Rules
- Primary Income Source: Year-To-Date (YTD) P&L statements are only required when practice/self-employment is the primary qualifying income stream.
- Date Triggers: A current YTD P&L is strictly required for Note dates on or after April 30th.
- P&L Omission Rules: Omission permitted if two (2) years of filed tax returns confirm non-declining income and the most recent year is filed (after April 15th).
- Trend Policy: If a YTD P&L shows declining revenue, the lower income figure must be used for qualification.
Ineligible Property Types & Classifications
Occupancy Exclusions
2–4 unit owner-occupied properties, second homes, investment real estate, model home leasebacks, and Tenants-in-Common (TIC) agreements. (Primary single-unit residences only).
Structure Exclusions
Non-warrantable condominiums, condo-hotels (condotels), housing cooperatives (co-ops), manufactured/mobile homes, mixed-use buildings, and commercial working farms or orchards.
Acreage & Conditions
Parcels >10 acres on ARMs/15-yr fixed, parcels >40 acres on 20–30-yr fixed, C5/C6 appraisal ratings, Q6 quality ratings, and Hawaii Lava Zones 1 & 2.
Frequently Asked Questions
What is a Physician Mortgage Loan?
A Physician Mortgage Loan is a portfolio home loan tailored for medical professionals, allowing up to 100% financing without private mortgage insurance (PMI) or substantial down payments.
What are the benefits of the Physician & Medical Professional Mortgage Loan?
Benefits include up to 100% financing, zero monthly PMI, student loans excluded from debt-to-income evaluations, and the ability to close 60 days before the start date of employment.
What is the maximum loan amount available through this financing?
The maximum loan amount available is up to $2,000,000.
What are the credit score requirements for qualifying?
The minimum FICO score required is 680 for loans up to $1,500,000 and 720 for loans between $1,500,001 and $2,000,000.
Are gift funds allowed for this type of loan?
Yes, verified gift funds are 100% permissible to satisfy required post-closing liquidity reserves.
What types of mortgage terms are available?
The loan offers various amortization terms including 15, 20, 25, and 30-Year Fixed Rates as well as 5/6, 7/6, and 10/6 Adjustable-Rate Mortgages (ARMs).