Built for Doctors, Dentists, and Residents — Not Just W-2 Employees
3 min · no credit impact
Understanding physician loans
A physician home loan (also called a physician mortgage or doctor loan) is a mortgage built for licensed medical professionals whose income and student-debt profile does not fit conventional underwriting — including residents and fellows who have an offer letter but have not started work yet.
Most lenders see six figures of student debt and a job that doesn’t start for another two months and they see risk. We see a physician.
Doctors, dentists, and other licensed medical professionals often carry deferred or income-driven student loans, a short employment history, and an employment contract instead of pay stubs. Physician mortgage programs are designed around that reality instead of penalizing it.
Whether you are finishing residency in Phoenix, joining a practice in Scottsdale, or relocating to Arizona for your first attending position, a physician mortgage can often close before your new job even starts.
Borrowers may purchase with as little as 0% down on loan amounts up to $1.5 million, or 5% down on loan amounts up to $2 million, depending on credit profile. Exact loan-to-value (LTV) limits follow the lender’s current Medical Professional matrix.
Unlike most conventional loans with less than 20% down, this physician loan program does not require monthly private mortgage insurance (PMI) at any down-payment level.
If student loans are in deferment, forbearance, or on an income-driven repayment (IDR) plan during residency or fellowship, that payment can often be excluded from debt-to-income (DTI) calculations under this program’s guidelines.
You can often qualify and close using a signed employment contract or offer letter before your first paycheck, as long as the contract clearly states start date, compensation, and terms.
Residents and fellows who receive a cash housing allowance can often count that allowance as qualifying income.
Eligible primary residences include a single-family home, planned unit development (PUD), warrantable condo, or modular home, with financing available up to $2,000,000 on a one-unit property.
Ready to see if a physician loan fits your offer letter?
Start my preapprovalEligibility
At least one borrower must be a licensed or in-training medical professional in an eligible designation — such as an MD, DO, DDS/DMD, PharmD, DVM/VMD, DPM, or CRNA — and be in active practice or training. Chiropractors are not eligible under this specific program.
Eligibility is about designation and active practice or training — not a ranked order of specialties.
Medical Doctors (MD) and Doctors of Osteopathy (DO), including specialists such as ophthalmologists and psychiatrists who hold an MD or DO.
Trainees who hold (or will hold) an eligible degree may qualify using training status and, when applicable, a signed offer letter for a future attending role.
Maximum loan-to-value (LTV) and loan amount depend on your credit score (FICO). Reflects wholesale Medical Professional guide v4.0 (effective 07.13.2026) — verify with the investor before publishing.
FICO 680
FICO 680
FICO 720
| FICO | Max LTV | Max loan amount |
|---|---|---|
| 680 | 95% (5% down) | $2,000,000 |
| 680 | 100% (0% down) | $1,500,000 |
| 720 | 100% (0% down) | $2,000,000 |
See where you land on the matrix — start my preapproval.
Start my preapprovalLoan options
Physician loans may be structured as fixed-rate or adjustable-rate purchase loans, rate-and-term refinances, or delayed purchase refinances — but not cash-out refinances under this program.
15, 20, 25, and 30-year fixed terms.
5/6, 7/6, and 10/6 adjustable-rate mortgages (ARMs).
As little as 0% down, including closings before a new position starts.
Improve rate or term; cash-out is not available.
For homes bought in cash within the last 6 months.
Costs & what to expect
Physician loans typically skip monthly private mortgage insurance (PMI) at any down payment and may allow lower reserve requirements, while still including standard closing costs such as appraisal, title, and lender fees.
Origination and lender fees, appraisal, title insurance, credit report, and recording fees still apply. As a broker, Mortgage Brothers shops your scenario across a panel of physician-loan investors.
The process
Specialty, training stage, and target start date.
Many borrowers qualify before the first paycheck.
Make offers with a pre-approval letter.
Compare physician programs across lenders.
This program is manually underwritten.
Including ahead of your first day on the job.
Client reviews
“Eddie and his team are fantastic to work with! They are efficient, friendly and very professional. They communicate to all parties in the transaction, making it a very smooth transaction every time.”
Elizabeth Todd, H2 Realty, Phoenix, Arizona
Placeholder — swap for a physician-borrower quote when available.
Why Mortgage Brothers
Residency timelines, offer-letter income, and income-driven repayment (IDR).
Independent brokers comparing programs across lenders.
Near Banner, Mayo Clinic Arizona, HonorHealth, and UArizona.
Closings around residency starts and offer letters.
Frequently asked questions
Questions answered? Start my preapproval when you are ready.
Start my preapprovalMortgage Brothers LLC · 1599 East Orangewood Ave, Suite 200, Phoenix, AZ 85020
Mortgage Brothers NMLS 1007154, NMLS #210917 and #1618695. Equal Housing Opportunity.
We're here to answer your questions and guide you through the loan process. Whether you're ready to apply or just exploring your options, Mortgage Brothers' experienced loan officers is standing by to assist you. Reach out today and take the first step towards achieving your homeownership goals.