medical doctor home loan options and guidance

What it is

A medical doctor home loan is a specialty mortgage designed for physicians, residents, and fellows. Lenders recognize high earning potential and offer low down payments, often no private mortgage insurance, and flexible debt-to-income rules that account for student loans. It can help you buy earlier without derailing your financial plan.

Key advantages

• No PMI even below 20% down, reducing monthly costs.
• Lower down payment thresholds, sometimes 0–10%.
• Higher loan limits and consideration of signed employment contracts.
• Student loans evaluated by IBR/IDR payment or documented amounts.
• Options for fixed or ARM rates; closing costs may be offset by lender credits.

What lenders evaluate

Underwriting still checks credit score, cash reserves, property type, and location. New attendings may qualify using a future-dated offer letter, while self-employed doctors need extra documentation and reserves.

Common questions

When should you apply? Typically 30–90 days before start date. Can a signing bonus count as reserves? Often yes with proof. Is refinancing later sensible? If rates drop or you want to remove an ARM. Compare APR, fees, and prepayment terms-not just the headline rate.