Loan program · Specialty
Physician Loans
Physician and professional loan programs are designed for borrowers whose income potential is strong but whose current documentation looks unusual: a signed employment contract that starts soon, minimal savings after training, and substantial student loan debt. Program eligibility often extends beyond MDs to DOs, dentists and other licensed professionals depending on the investor.
Guidance by Manny
Who it is designed for
- Residents, fellows and attending physicians starting a new position
- Dentists, veterinarians and other licensed professionals where the investor allows
- Buyers with student loan debt that complicates conventional debt ratios
- Buyers who want to limit their down payment while preserving cash
Eligible occupancy types
- Primary residence, with select investors allowing second homes
Down payment or equity
Reduced down payment tiers are common, with the exact requirement set by loan amount and investor guidelines.
Major benefits
- Student loan debt is often treated differently than on standard programs
- A future employment contract may be used to document income before the first pay stub
- Reduced or no mortgage insurance structures on many programs
Important considerations
- Eligible professions and license types vary by investor
- Rate and pricing may differ from standard conventional financing
- Program availability changes; specifics are confirmed at application
How qualification generally works
- Proof of license and profession
- Employment contract with start date, or current pay documentation
- Credit review and remaining monthly obligations
- Appraisal on the subject property
Documents commonly requested
- Photo ID and Social Security number for each borrower
- Most recent pay stubs covering a full 30 day period, if you receive W2 wages
- W2s and/or federal tax returns for the most recent years requested
- Two months of asset statements for accounts used for down payment and reserves
- Current mortgage statement, homeowners insurance and property tax information on properties you own
- Explanations for large or non payroll deposits
- Signed employment contract or offer letter
- Copy of professional license
- Student loan statements showing balance and payment status
Not sure this is the right mortgage?
Tell Manny what you're trying to accomplish. He can help you compare this program with other financing options that may fit your situation — your income and how it is documented, your credit and assets, the property and how you will use it, your timeline, and the guidelines that apply. Most borrowers have more than one workable path.
Frequently Asked Questions
Related programs and next steps
Conventional Loans
The most widely used financing for primary homes, second homes and rentals.
Learn more CoreJumbo Loans
Financing above conforming loan limits for higher priced homes.
Learn more SpecialtyBank Statement Mortgages
Qualify with business or personal deposits instead of tax return net income.
Learn moreConsidering physician loans?
We will review your documents, compare the realistic options, and give you a written preapproval you can use with confidence. Nothing on this page is a commitment to lend.