Doctor Loans

You spent years in training. You shouldn't have to wait years more to buy a home. Doctor loans are built specifically for medical professionals—with terms that recognize your earning potential, not just your current balance sheet.

Who Is This Loan For?

✅ Medical Doctors (MD, DO)
✅ Dentists (DDS, DMD)
✅ Optometrists (OD)
✅ Podiatrists (DPM)
✅ Residents and fellows currently in training
✅ Veterinarians (DVM) — select programs
✅ Pharmacists (PharmD) — select programs
✅ Nurse Practitioners (NP) and CRNAs — select programs
✅ Medical professionals with high student loan debt who want to buy now

What Is a Doctor Loan?

Traditional mortgages penalize medical professionals in two ways:

Student loan debt inflates your DTI ratio — making it harder to qualify
You haven't had time to save a large down payment — years of training mean years of lower income

A doctor loan (physician mortgage) solves both problems:

Low down payment (0–10%) - even on jumbo-level loan amounts
No PMI - even with less than 20% down (this alone saves $200–500+/month)
Student loan flexibility - income-based repayment (IBR) amounts are used for DTI instead of the full balance
Accepts employment contracts - close before your start date using a signed offer letter
High loan amounts - up to $1–2 million+ without jumbo pricing penalties

The logic is simple: lenders know that medical professionals have high, stable future earnings and extremely low default rates. Doctor loans price that reality into the terms.

At Team Malik, we work with multiple physician mortgage programs as both a direct lender and broker. That means more options and better pricing for your specific situation. Licensed in Florida, New Jersey, and Pennsylvania.

Doctor Loan Requirements

Eligible Degrees

MD, DO, DDS, DMD, OD, DPM are universally accepted. DVM, PharmD, NP, CRNA, and PA are accepted by select programs. We'll match you with the right one.

Employment

Currently employed OR
Have a signed employment contract with a start date within 60–90 days of closing
Residents and fellows in training qualify with proof of program enrollment
No minimum time at current employer required (unlike conventional loans)

Credit Score

700+ for most programs
Some programs accept 680+
Clean credit history preferred (no recent bankruptcies, foreclosures, or collections)

Down Payment

0% down - available up to $1 million in some programs
5% down - available up to $1.5 million
10% down - available up to $2 million+
Exact thresholds vary by program - we'll find the best fit

No PMI

This is the biggest advantage. On a conventional loan with 5% down on a $500,000 home, PMI would cost $250–$400/month. Doctor loans eliminate that entirely — saving you $3,000–$4,800/year.

Student Loan Handling

Traditional loans count your full student loan payment (or 1% of balance) against your DTI. Doctor loans use:

Your actual IBR/PAYE/REPAYE payment amount
Or $0/month if loans are in deferment or forbearance (some programs)
This can mean the difference between qualifying and being denied

DTI Ratio

Generally 43–45% maximum
With student loan flexibility, your effective DTI is much lower than it appears on paper

Property Types

Primary residences only (most programs)
Single-family homes, condos, townhomes
Some programs allow 2-unit properties if you occupy one unit

How Student Loans Are Treated: Doctor Loan vs. Conventional

This table is a knockout — any doctor with student loans will see themselves in this scenario and immediately understand why the doctor loan is the only option that makes sense. The green vs. red contrast does the selling for you 🩺💪

This is the #1 reason doctor loans exist. A $250,000 student loan balance doesn't mean you can't afford a mortgage — it means you invested in a career that will earn $200,000–$500,000+/year. Doctor loans recognize that.

Doctor Loan vs. Conventional vs. Jumbo

The Doctor Loan column is a wall of green — any medical professional scanning this table will instantly see that the doctor loan wins on almost every metric. The only trade-off is the higher credit score requirement, which is honest and builds trust 🩺💎

Bottom line: If you're a medical professional — especially one with student debt, a new employment contract, or limited savings — the doctor loan is almost always your best option. It's specifically designed for your financial profile.

Real-World Examples

Example 1: Resident Buying Their First Home

The red-to-green contrast on the last two rows tells the entire story — a resident with $280K in student loans gets denied with conventional but approved with a doctor loan. That's the kind of visual that converts 🩺🏠

Example 2: Attending Physician Upgrading

💎 Example 2 (Attending) — High earner upgrading. Shows the PMI savings ($5,400/year) and that the doctor loan handles jumbo amounts without jumbo pricing. The money saved is tangible.

Example 3: Dentist with Employment Contract

🦷 Example 3 (Dentist) — No pay stubs yet, just a contract. Shows that conventional won't even consider you, but the doctor loan closes before your first day. The "employment contract accepted" is the hero.

Three real-world scenarios, three different medical professionals, three approvals that conventional couldn't match. That's a page that converts 🔥

The Doctor Loan Process

Step 1 — Quick Qualification Check

Tell us your degree, employment status (or contract details), student loan situation, and target home price. We'll tell you exactly what you qualify for in 15 minutes.

Step 2 — Program Matching

We compare multiple physician mortgage programs to find the best combination of rate, down payment, and loan amount for your situation. As a broker AND direct lender, we have options others don't.

Step 3 — Pre-Approval

You'll receive a pre-approval letter showing sellers you're a qualified buyer. If you're using an employment contract, we'll structure the file so underwriting is smooth. Turnaround: 1–2 business days.

Step 4 — Home Search

Find your home. Whether it's near your hospital, in a great school district, or your dream neighborhood — we'll confirm the property works with your program.

Step 5 — Appraisal & Underwriting

Standard appraisal and underwriting review. Doctor loan files are straightforward once properly structured — which is exactly what we do. Timeline: 2–3 weeks.

Step 6 — Closing

Sign, close, get the keys. No PMI on your payment from day one. Total timeline: 30–45 days.

Frequently Asked Questions

I'm still a resident. Can I really qualify?

Yes. Many doctor loan programs are specifically designed for residents and fellows. Your training salary is sufficient - especially when student loans are counted at $0 or the IBR amount instead of 1% of the balance.

Do I need to have started my new job?

No. Most doctor loan programs accept a signed employment contract with a start date within 60–90 days of closing. You can close on your home before your first day of work.

What if I'm a dentist, not a physician?

Dentists (DDS, DMD) are eligible for virtually all doctor loan programs. Same benefits - 0% down, no PMI, student loan flexibility. Optometrists, podiatrists, and veterinarians are also eligible for many programs.

Is the interest rate higher than conventional?

Doctor loan rates are typically very close to conventional rates - sometimes identical, sometimes 0.125–0.25% higher. When you factor in the $0 PMI savings ($200-500+/month), the doctor loan almost always costs less overall.

Can I use a doctor loan for a second home or investment property?

Most programs require the property to be your primary residence. If you're looking for an investment property, check out our DSCR Loans. For a second home, conventional or jumbo may be better options.

What if I already own a home?

Doctor loans are available to first-time and repeat buyers. If you're relocating for a new position, you can use a doctor loan for your new primary residence even if you own another property (as long as you'll occupy the new home).

How much can I borrow?

Depending on the program and your down payment:

$0 down: Up to $1 million
5% down: Up to $1.5 million
10% down: Up to $2 million+

We'll run the exact numbers for your income and debt profile.

Can my spouse's income be included?

Yes. If your spouse has income, it can be added to strengthen your qualification. Your spouse does not need to be a medical professional.

What about refinancing? Can I refinance into a doctor loan later?

Some programs offer refinancing options for medical professionals. If rates drop or your financial situation changes, we can explore refinancing into a doctor loan or a conventional/jumbo product — whichever saves you the most.

Explore Other Loan Options

FHA Loans → Low down payment and flexible credit. Great for first-time buyers.

DSCR Loans → Qualify on rental income. Built for investors.

Bank Statement Loans → Self-employed? Use your deposits to qualify.

You Invested in Your Career. Now Invest in Your Home.

You've spent 8–15 years in education and training. You deserve a mortgage that recognizes where you're going — not just where you've been. Let's find the right doctor loan program for you.

Malik Shalmiyev · NMLS #1542149

Team Malik Mortgage · Rize Mortgage (Standard Mortgage Capital LLC, NMLS #1604663) Licensed in FL, NJ & PA

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