Doctor Mortgage Loans
Your Path to Homeownership

Picture of three physicians standing together and smiling.

Physicians, congratulations on your successful career! Now you're ready for the next step: owning a home. But managing student loans and starting a practice can make traditional mortgages seem out of reach.

That's where doctor mortgage loans come in to help. Designed specifically for physicians, these loans offer unique advantages to help you achieve your dream of homeownership.

What is a Doctor Mortgage Loan?A doctor mortgage loan is a conventional loan with relaxed qualifying requirements for physicians. Here's how it benefits you:

  • Lower Down Payment: Put down as little as 0% up to $1.25M on your home purchase. This allows you to free up capital for other financial goals, like student loan repayment.  Many lenders restrict high-LTV loans above 89.99% to physicians practicing less than 10 years.
  • Focus on Future Income: Lenders consider your future earning potential as a physician and value as a banking partner, even if you're just starting out. This can help overcome the hurdle of high student loan debt that might impact traditional mortgage approvals.
  • Simplified Debt-to-Income (DTI) Ratio: Many programs only factor in your base salary and the income-driven repayment amount of your student loans, giving you a more favorable DTI ratio. Some lenders allow federal student loan payments to be excluded from debt-ratios for physicians currently enrolled in Residency and Fellowship training.
  • Large Loan Amounts: Qualify for jumbo loans to finance your dream home, even in expensive housing markets. The Physicians Loan Program is available for loan amounts up to $2M. Loans above this amount are available in portfolio jumbo programs.

Is a Doctor Mortgage Right for You?

While doctor mortgage loans offer significant advantages, they're not a one-size-fits-all solution. Consider these factors before applying:

  • Credit Score: Underwriting guidelines require a minimum credit score of 700, though higher scores can lead to better interest rates. There is also some flexibility to guideline requirements with explainable circumstances.
  • Employment Status: New attending and residents with employment contracts can often qualify, while some programs have specific requirements regarding practice type or time in practice.
  • Loan Terms: Surprisingly, Doctor mortgage loans normally do not have higher interest rates than conventional loans. Lenders are willing to discount pricing with the goal of developing long-term relationships with physicians. Carefully compare rates and terms from different lenders.

Taking the Next Step

Ready to explore doctor mortgage options? Here's what to do next:

  • Compare Loan Terms: Compare pricing on ARM and Fixed-Rate loans. Physicians starting residency training may prefer a lower interest-rate ARM program over a long-term 30 year fixed-rate. Especially if they plan on moving upon completion of residency training.
  • Gather Documents: Have your employment contract, tax returns, and pay stubs readily available for a smooth application process. Underwriting will also require a copy of your medical degrees and medical licensing permit to practice.
  • Shop for Home Owner's Insurance: Don't settle for the first offer. Get quotes from multiple insurance companies to secure the best possible insurance premium.

Embrace the Future

Owning a home is a significant milestone. With a doctor mortgage loan, you don't have to wait to turn that dream into reality.

Additional Resources:

  • Consider consulting with a financial advisor specializing in physician finances.

By understanding the benefits and considerations of doctor mortgage programs, you can make an informed decision about financing your dream home and secure a bright financial future.

Call Now
>>>Click Below for Pricing
By Clicking Submit You Agree to Our Privacy Policy.
Key Benefits of FNB's Doctor Program:
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
  • Fast Rate Quotes - ARMS & Fixed Rates: No Credit Pull Required
  • Same-Day Pre-Approval Letters
  • Residents, Interns, and Fellows also Eligible
  • Purchase, Refinance, & New Construction
  • 1099 and Locum Tenans Contractors
  • Close up to 90 Days Prior to Starting Employment
  • Federal Student Loans excluded for Physicians in Residency
Picture of mortgage loan officer, John Hester, NMLS #126852
John Hester, NMLS #126852
Physician Mortgage Specialist
First National Bank
Mobile: 910 777-3123

John is passionate and committed to helping Physicians with their mortgage financing needs. John is a Physician Mortgage Loan Specialist with more than 30 years experience. Allow John to show you ways to save money and help you choose the best rate and program for your situation. John is creative and has helped many borrowers overcome financing issues.

Experience seamless service as John delivers a swift and complimentary Rate Quote, devoid of any sales pressure, while addressing all your queries.

Discover why so many clients return to John time and again.

Serving the following locations:

Delaware, Florida, Georgia, Maryland, New Jersey*, New York*, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, West Virginia, Washington D.C.

*(Certain cities are ineligible)