Participation Overview & Common Questions
Fee Structure & Coverage
To keep participation simple and consistent, listings are priced at: $499 per month, per bank (flat rate)
This fee covers your institution’s national footprint. We do not charge per state.
To maintain clarity for physicians and hospital teams, only one designated loan officer per bank appears in the directory nationwide.
What is a doctor loan?
A doctor loan, also called a physician mortgage, is a home loan designed specifically for medical professionals. It typically allows low or zero down payment, no private mortgage insurance (PMI), and flexible underwriting that considers future income and student loan debt.
Who qualifies for a physician mortgage?
Most physician loan programs are available to MDs, DOs, DDS/DMDs, residents, fellows, and sometimes veterinarians, podiatrists, and optometrists. Eligibility varies by lender and professional designation.
Can medical residents qualify for a doctor loan?
Yes. Many lenders allow residents and fellows to qualify using an employment contract, even before starting their new position.
Do doctor loans require a down payment?
Some programs allow 0% down, while others require 5–10% depending on the loan amount and lender guidelines.
Do physician loans require private mortgage insurance (PMI)?
Most physician loans do not require PMI, even with less than 20% down. This is one of the biggest advantages compared to conventional mortgages.
Are interest rates higher on doctor loans?
Interest rates may be slightly higher than conventional loans in some cases, but the savings from no PMI and lower down payment often offset the difference.
Can I qualify with high student loan debt?
Yes. Physician loan programs are designed for doctors with large student loan balances. Some lenders use more flexible debt-to-income calculations.
What credit score is required for a doctor loan?
Most lenders require a minimum credit score between 680 and 720, but requirements vary by lender and loan size.
Can I use an employment contract to qualify?
Yes. Many physician loan programs allow you to qualify using a signed employment contract without prior pay stubs.
Are doctor loans available in all states?
Physician loan availability depends on the lender. Many lenders operate nationally, but some programs are state-specific.
What is the maximum loan amount for a doctor loan?
Loan limits vary widely. Some lenders offer up to $1 million with 0% down, while higher loan amounts may require a small down payment.
Can I refinance into a doctor loan?
Some lenders allow refinancing into a physician mortgage if you meet eligibility requirements.
Can I buy a second home with a doctor loan?
Most physician loans are intended for primary residences only. Second homes and investment properties usually do not qualify.
Can I use gift funds for a down payment?
Many lenders allow gift funds, but specific guidelines depend on the loan program.
Are there closing cost advantages with doctor loans?
Some lenders offer reduced closing costs or special incentives for physicians, but this varies by program.
How is a physician loan different from a conventional mortgage?
Physician loans allow lower down payments, no PMI, and more flexible underwriting for student loans and employment contracts.
Do doctor loans have adjustable rates?
Yes. Many lenders offer both fixed-rate and adjustable-rate mortgage (ARM) options.
Can new attending physicians qualify immediately?
Yes. Many lenders approve new attendings based on a signed contract, even before employment begins.
Is income verification required?
Yes. Lenders verify income using contracts, pay stubs, or tax returns depending on employment status.
Can self-employed doctors qualify?
Yes, but underwriting may require additional documentation such as tax returns and financial statements.
Are there prepayment penalties?
Most physician loan programs do not include prepayment penalties, but borrowers should confirm with their lender.
Can I use a doctor loan to build a home?
Some lenders allow construction-to-permanent financing options under physician loan programs.
How long does approval take?
Approval timelines vary, but many physician loans close within 30–45 days.
Do physician loans cover condos and townhomes?
Yes, as long as the property meets lender guidelines.
Can I qualify if I am still in fellowship?
Yes. Many lenders accept fellowship income and employment contracts.
Are doctor loans backed by the government?
No. Most physician loans are portfolio loans offered directly by banks.
Is there mortgage insurance at all?
While PMI is typically not required, some programs may include lender-paid insurance built into the rate.
What are the main benefits of a physician loan?
Key benefits include:
- Low or no down payment
- No PMI
- Flexible student loan treatment
- Contract-based qualification
How do I compare physician loan programs?
You should compare:
DoctorLoanPrograms.com helps compare lender options by state.
- Down payment requirements
- Interest rates
- Loan limits
- Credit score requirements
- Student loan treatment
DoctorLoanPrograms.com helps compare lender options by state.
