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Minimum Percentage Down Required:
0%
Maximum Loan Amount:
$2,000,000
Types of Mortgages Available:
Traditional, ARMs
PMI:
No

MORE INFORMATION

States Available: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, NC, ND, NE, NH, NM, NV, OH, OR, PA, RI, SC, SD, TX, WI
Minimum Percentage Down Required:
3%
Maximum Loan Amount:
$1,500,000
Types of Mortgages Available:
Traditional
PMI:
Yes

MORE INFORMATION

States Available: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
Minimum Percentage Down Required:
0%
Maximum Loan Amount:
$1,500,000
Types of Mortgages Available:
ARMs
PMI:
No

MORE INFORMATION

States Available: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
Minimum Percentage Down Required:
0%
Maximum Loan Amount:
$3,500,000
Types of Mortgages Available:
Traditional, ARMs
PMI:
No

MORE INFORMATION

States Available: AK, AZ, CA, CO, CT, DC, FL, GA, HI, ID, IL, IN, KY, MA, MD, ME, MI, NC, NH, NJ, NV, NY, OH, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA
Minimum Percentage Down Required:
0%
Maximum Loan Amount:
$1,500,000
Types of Mortgages Available:
Traditional, ARMs
PMI:
No

MORE INFORMATION

States Available: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
Minimum Percentage Down Required:
0%
Maximum Loan Amount:
$2,000,000
Types of Mortgages Available:
Traditional
PMI:
No

MORE INFORMATION

States Available: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
Minimum Percentage Down Required:
5%
Maximum Loan Amount:
$2,000,000
Types of Mortgages Available:
Traditional, ARMs
PMI:
No

MORE INFORMATION

States Available: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY

What is a Doctor Loan?

Doctor Loan

Doctor home loans first began as a solution to a problem. New doctors applying for traditional loans weren’t able to get them because of their high DTI (debt-to-income ratio). In other words, they had massive amounts of debt from all their student loans and no work history, a very bad combination in the mortgage world. Even though these doctors would one day become high-income earners, they weren’t there yet as residents.

So, banks came up with a solution—doctor home loans. Because these special loans would be held as portfolio loans at their banks, they didn’t need to conform to all of the Fannie Mae/Freddie Mac requirements. That meant that a high DTI score didn’t doom the doctors’ applications. Banks were willing to take a risk in order to gain doctors as customers, who would hopefully continue to bank with them when they did become high-income earners.

They even sweetened the deal by offering 0% down and no PMI, two features that have become almost universal for doctor home loans now. Over the years, the maximum loan amount kept increasing (some reaching as high as even $3,000,000) while the minimum credit needed to participate kept decreasing (sometimes as low as 640).

Also, the list of doctors allowed to participate in these programs has expanded. Doctor home loans aren’t just for residents and new doctors anymore (although some program still have these career stage restrictions). Often, they aren’t just for doctors either as the majority of the programs accept dentists too. In fact, almost every medical profession now can find several “doctor home loans” that will include their professions too. And several of programs are now available to non-US-citizen medical professionals with valid work visas.

Over time, other features have also been added as more and more banks started offering their own doctor home loans. For example, the types of properties you can buy using doctor home loans have expanded. A few of the banks will even let doctors use the loans on second homes and investment properties. Some will allow you to use gifts or seller concessions to help pay the closing costs. Others can help you close on your home even earlier than the normal 60-day window prior to your job start.

In summary, doctor home loans are a pretty sweet deal that just keep getting sweeter every year. So, go ahead and use our free search tool to find the doctor home loan that is just right for you. Then, we’ll be happy to help put you in contact with a physician loan specialist who has experience working with doctors and knows how to deal with these unique portfolio loans.

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