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5 Best Physician Mortgage Loans

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As the name suggests, physician mortgage loans are for medical professionals. Doctors, healthcare professionals, dentists, and veterinarians are usually eligible for these loans.

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Physician mortgage loans (also known as doctor loans) have been specially designed with doctors in mind. Doctors often have a massive student loan debt. Plus, their work experience may not reflect their true earning potential, particularly the ones who have just finished their residency. Doctor loans help physicians get as much as $1 million from lenders based on their unique financial needs.

Advantages of physician mortgage loans

  • Relaxed debt to income ratio
  • Low interest rates
  • Zero or low down payments
  • No need to buy private mortgage insurance
  • Jumbo loan balances

How to pick the best physician mortgage loans

  • Discuss with your family and decide if you want to settle down in one place and buy a home. Determine if you really need a home loan.
  • Look at the eligibility criteria and see if you qualify for the loan.
  • Calculate the property price. Find out the minimum amount you can qualify for. Is it enough to buy the property?
  • Compare interest rates charged by various lenders and ask them the following questions: How much interest do you have to pay? Do you have to pay a fixed or variable interest rate?
  • Find out how much you have to pay for the down payment? Some mortgage lenders offer zero down payment loans. But others may ask you to make a 5% down payment. Can you afford it?
  • Check out the minimum credit score criteria before applying for a loan.

Top physician mortgage loans

TD Bank

Name of the loan – Medical Professional Mortgage

What are the benefits?

  • Physicians can either qualify for up to $750,000 with zero down payment or $1.25 million with a 5% down payment.
  • Loans are available for all single-family residences, co-ops, and condominiums.
  • Those who are self-employed can qualify for loans with a work experience of 2 years.

What are the drawbacks?

Loans are only available in 15 states and Washington, D.C.

Online applications are not available.

Loans are available to only those who are out of residency for less than 10 years.

Not much documentation is required.

Why is it one of the best physician mortgage loans?


Available to self-employed borrowers.

Offers loans to a wide range of healthcare professionals.

Doesn’t need any proof of income.

Offers larger loans than other lenders.

Who can qualify for it?

  • Licensed medical or dental residents
  • MDs
  • DOs
  • DPMs
  • Dentists
  • Surgeons

TD Bank is one of the top 10 financial institutions in the US. Established in 1852, TD Bank offers a variety of financial products to consumers.

First National Bank

Name of the loan – Physician Mortgage Loans

What are the benefits?

Easy and quick approval process.

Loans can be used to buy secondary homes along with primary residence.

No need to buy private mortgage insurance.

What are the drawbacks?

Online applications are not allowed.

Available in select states only.

Why should doctors go for it?


  • Easy and quick approval process helps borrowers to get money fast.
  • Loans can be used for buying all sorts of homes – primary, secondary, vacation, new construction, etc.
  • Both FRM and ARM mortgages are available. Borrowers can choose any one.
  • Physicians can borrow up to 100% of the value of their homes.

Who can qualify for it?

  • Physicians
  • MD
  • DO
  • DDS
  • DMD

First National Bank is one of the most trustworthy banks in the country. The bank has been offering a wide range of financial services since 1864.

Flagstar Bank

Name of the loan – Professional Loan

What are the benefits?

Jumbo loans available.

Flexible down payment options.

Doctors can get these loans in 50 states.

Fast closing process.

What are the drawbacks?

Only adjustable rate mortgages are available.

Borrowers need to have a 700 credit score.

Why should doctors go for it?

Physicians can get up to $1.5 million from lenders.

Physicians can borrow up to $850,000 with a down payment of 10%.

Who can qualify for it?



Nurse practitioners



Clinical nurse specialists


Flagstar Bank is one of the top 5 mortgage originators in the US with 150 branches. It has a network of 2,350 third-party loan originators.

Lake Michigan Credit Union

Name of the loan – The Doctor Mortgage

What are the benefits?

Low or zero down payment.

Jumbo loans.

Student loans don’t affect debt to income ratio.

Online loan application option is available.

Cash reserves are not required.

Low or zero down payment.

What are the drawbacks?

Borrowers have to be a member of the credit union.

They can get these loans only in Michigan and Florida.

Why should doctors go for it?

They can qualify for mortgage loans with 0 or 5% down payment.

They can be eligible for loans worth $650,000 with 0 down payment.

With only 5% down payments, doctors can qualify for loans amounting to $1 million.

Borrowers are not required to buy private mortgage insurance.

Cash reserves are not required at closing. It’s a great relief for borrowers who are stressed about making a down payment.

Who can qualify for it?

Credit union members.

Dental, orthopedic, and other medical professionals.

Key Bank

Name of the loan – Medical Professional Loan

What are the benefits?

Jumbo loans.

Both flexible and variable rate loans are available.

Loans can be used for buying primary or secondary homes.

What are the drawbacks?

Loans are available only in 15 states

Online applications are not available

Why should doctors go for it?

They can qualify for loans up to $3.5 million

They can qualify for financial assistance up to 100% LTV

Down payments are not required for small loans

Who can qualify for it?



Key Bank is one of the reputed financial institutions offering various types of products to consumers, like credit cards, bank accounts, mortgage loans, insurance, etc. Apart from that, Key Bank also offers personal loans to consolidate debts and cover other expenses.


If you’re planning to apply for a physician mortgage loan, make sure you compare the features of these top 5 loans. Choose the one that fits your budget and fulfills your financial needs.

About the Author: Lyle Solomon has considerable litigation experience as well as substantial hands-on knowledge and expertise in legal analysis and writing. Since 2003, he has been a member of the State Bar of California. In 1998, he graduated from the University of the Pacific’s McGeorge School of Law in Sacramento, California, and now serves as a principal attorney for the Oak View Law Group in California.

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