What is a Physician Mortgage Loan?

A physician mortgage loan is a low down payment mortgage available to physicians, dentists and other eligible medical professionals. They do not require mortgage insurance and are often considered jumbo mortgages as they allow higher loan balances than conventional and FHA mortgage loans.

A Unique Mortgage for Doctors

  • 100% Financing – No Money Down
  • No PMI – Lower Monthly Payments
  • No Pre-Payment Penalty
  • Flexible Loan Programs – Choose the payment option that is best for you
  • Move in up to 60 days prior to starting your next position
  • A true loan for Doctors with special underwriting

The Doctor Loan is a great loan for doctors regardless of whether they are just out of medical school, in residency, or for physicians who have been in practice for many years.

Most doctors are looking for loans with low interest rates that enable them to put very little or a zero down payment, not use their student loan debt if they have any in their debt ratio, use furture income rather than current or past income, and yet enable them to move in before they start their job. We understand these needs and our Doctor Loan accommodates all of these needs.

This typcial scenario poses many challengest for most lenders including all standard Fannie Mae loans. Most physicians would not qualify for the best rates given the type of loan they need. Most companies try to do these loans as non-conforming loans with higher rates and less attractive terms. So we have developed a special product to meet the needs of these physicians who want the benefits of home ownership with the best loan possible. Our underwriting is set up such that we understand your unique situation and we make it easier to qualify. We offer a mortgage with the best rates, zero down payment, do not count your full student loans against you, no PMI, allow for higher debt ratios, allow you to qualify based on your new income months before you even begin your new job, and much more.

No other mortgage loan has all of these benefits and still provides great rates. Our Doctor Loan is simply the best way for a physician to obtain home financing.

How are we able to offer these great benefits to physicians?

Our research has shown that physicians with high credit scores have a very low risk of default on residential mortgages even if they have high debt, higher ratios, few assets and/or buy a home with little to no money down. Normally these items cause concern for underwriters who may approve the loan but at higher rates. We look at the loan differently. We know that your unique financial position is normal to doctors and that your rate of default on mortgages is still much lower than any other occupation. This is why we are able to offer a 100% loan with no PMI and at GREAT rates. We understand the big picture.

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