What is a physician mortgage loan?

A physician mortgage (or doctor loan) is a special home loan program for medical professionals. Key benefits include no private mortgage insurance (PMI) on loans up to $2M, low or zero down payment options, and flexible debt-to-income calculations that may exclude or discount student loan payments.

Who qualifies for a physician mortgage?

MDs, DOs, DMDs, DDSs, and other medical professionals typically qualify. Many programs accept residents and fellows with signed employment contracts. Some lenders extend eligibility to nurse practitioners, physician assistants, and other advanced practice providers. Requirements vary by lender.

How much can I save by avoiding PMI?

PMI typically costs 0.5-1% of the loan amount annually. On a $500,000 loan, that is $2,500-$5,000 per year ($208-$417/month). Over a 30-year loan, the total PMI savings can exceed $75,000. The calculator above shows your specific PMI savings.

Can I get a physician mortgage during residency?

Yes. Many lenders offer physician mortgage loans to residents and fellows with a signed employment contract. Some programs allow you to close on a home up to 90 days before your start date. Your future attending salary is typically used for qualification.

How does student loan debt affect physician mortgage qualification?

Physician mortgage lenders often use more favorable calculations for student debt. Some use the IDR payment amount rather than the standard 1% of balance rule. Others may exclude deferred loans entirely. This is a major advantage over conventional mortgages.

Physician Mortgage Affordability Calculator

See how much home you can afford with a physician mortgage loan. Physician loans offer no PMI and flexible debt-to-income requirements.

Your Finances

Annual Income

Monthly Debt Payments

Student loans, car payments, credit cards, etc.

Down Payment

Physician loans allow 0-10% down with no PMI

Loan Terms

Interest Rate: 6.5%

3%9%

Loan Term

Maximum Home Price

$1,127,000

Stretch

Monthly Payment Breakdown

Principal & Interest$6,807

Property Tax (est.)$1,033

Insurance (est.)$329

Total Monthly$8,169

Loan Details

Loan Amount

$1,077,000

Front-End DTI

28%

Back-End DTI

36.6%

PMI Savings

$628/mo

Physician Loan Advantage

With a physician mortgage, you save $628/month ($226,080 total) by avoiding PMI. Conventional loans require PMI for down payments under 20% — physician loans waive this entirely.

Get Pre-Approved for a Physician Mortgage

No PMI on loans up to $2M. Compare rates from multiple physician mortgage lenders.

Check Your Rate →

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How Physician Mortgage Loans Work

Physician mortgage loans are special programs that recognize the unique financial profile of doctors — high future earning potential with current student debt. Key benefits include no PMI on loans up to $2M, low or zero down payment, and student loans excluded or discounted from DTI calculations.

Who Qualifies?

MDs, DOs, DMDs, DDSs, and other medical professionals typically qualify. Some programs extend to residents and fellows with employment contracts. Requirements vary by lender.

This calculator provides estimates based on standard DTI ratios and approximate property tax/insurance rates. Actual pre-approval amounts depend on credit score, specific lender criteria, and local factors.

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