Doctor loans (also called physician loans) are specialty mortgages for medical professionals — with 0% down up to $2M, no Private Mortgage Insurance, favorable student loan treatment (use your IBR/PAYE/SAVE payment), and the ability to qualify on a future employment contract. Available to residents, fellows, and attendings.
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High earning potential, high student debt, and a starting-job timing problem that conventional lenders can’t handle. Doctor loans solve all three.
Skip the 20% down requirement. Most physician loan programs allow 0% down on purchases up to $2M — no years of saving while paying rent.
Conventional loans charge PMI when you put less than 20% down (typically $200–$500/month). Doctor loans waive PMI entirely — saving you $2,400–$6,000+ per year vs a comparable conventional loan.
Most programs exclude student loans from DTI entirely OR use the lower of 1% of balance / your IDR payment (IBR, PAYE, SAVE). Conventional uses 0.5–1% of total balance regardless of actual payment.
Qualify on a fully-executed employment contract showing future salary and start date (typically within 60–90 days of closing). Especially powerful for residents transitioning to attending positions.
The mechanics matter when you’re a $300K-in-student-debt resident closing on a $900K Florida home with $0 down.
Medical Doctors (MD), Doctors of Osteopathic Medicine (DO), Doctors of Dental Medicine (DMD), Doctors of Dental Surgery (DDS), Doctors of Veterinary Medicine (DVM). Some lenders also accept: pharmacists (PharmD), podiatrists (DPM), optometrists (OD), and certain nurse practitioners. Eligibility extends to residents, fellows, and interns — not just attendings.
Doctor loans go up to $2M with 0% down — well above conforming limits but priced like conforming. That's a significant savings vs traditional jumbo financing, which requires 10–20% down.
On a $300,000 student loan with $250/month IBR payment: conventional uses 0.5%–1% of balance ($1,500–$3,000/month phantom payment), killing your DTI. Doctor loans use the lower of your actual IBR payment ($250) or 1% ($3,000) — saving up to $2,750/month in calculated debt, which translates to roughly $400,000 in additional borrowing power.
Proof of degree (medical school diploma or letter from program for residents). Employment contract OR recent pay stubs. Asset statements (2 months) showing closing funds. Credit authorization. For residents using future-employment qualification: contract signed before closing, start date within 60–90 days, and 2 months of reserves after closing.
Curious how much you could borrow with your specific student loan and employment situation? Send us your details and we’ll run the calculation.
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| Doctor Loan | Conventional | Jumbo | |
|---|---|---|---|
| Min Down Payment | 0% (up to $2M) | 3–5% | 10–20% |
| PMI Required? | No | Yes if <20% down | Yes if <20% down |
| Student Loan Treatment | IBR/PAYE/SAVE payment | 0.5–1% of balance | 0.5–1% of balance |
| Future Employment Contract OK? | Yes (60–90 days out) | Limited (30-day max) | No |
| Max Loan Amount | $2M (0% down) | $832,750 | $5M |
| Min FICO | 680+ | 620+ | 660+ |
| Rate Premium | +0.25%–0.50% | Best market rate | +0.25%–0.50% |
| Best For | Residents/early-career attendings | 20%+ down, no student debt | Loans above doctor loan caps |
Same timeline as conventional. The doctor-specific underwriting actually goes faster because student loans don’t require complex analysis.
Send your degree info and employment status (resident, fellow, attending, contract pending). We confirm which doctor loan programs you qualify for in your stage.
Submit ID, contract or pay stubs, credit authorization, and asset statements. Pre-approval letter within 24–48 hours showing your max loan amount.
Shop with confidence. Doctor loan pre-approvals carry weight with sellers because the funding is rock-solid even at $0 down.
Standard 30-day timeline. Doctor loan underwriting actually moves faster than conventional jumbo because student loans don’t require detailed analysis.
Sign closing docs and get your keys. If you used a future employment contract, the start-date verification happens before closing, not after.
For physicians with strong down payment savings and no student debt, conventional may actually be cheaper. Know the trade-offs.
The questions residents, fellows, and attendings ask most. Don’t see yours? Ask Alex directly.
Alex Doce has structured doctor loans for residents starting fellowships, attending physicians relocating to Florida, dentists opening practices, and veterinarians joining clinics. Send us your contract and student loan details — we’ll quote your exact rate and max loan amount. No obligation, no hard credit pull.
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