Physician/Doctor Loan Program – Who Qualifies and What to Know

If you're a medical professional looking to buy or refinance a home, my credit union offers a specialized loan program designed just for you that's available in all 50 states. Here's a quick breakdown of who qualifies and what the program includes:

Who Qualifies

• Medical Doctors (MD, DO, DPM)
• Dentists (DDS, DMD)
• Veterinarians (DVM)
• Teaching professionals with an MD or DO
• Newly licensed residents or students starting employment within 90 days of closing

Loan Types

• Conforming Loans (up to standard limits)
  • No mortgage insurance (MI)
  • Fixed and adjustable rates (30- & 15-year fixed, 5/6, 7/6, 10/6 ARMs)
  • Up to 100% financing
  • Minimum credit score: 700
  • Max DTI: 45%
  • 2 months reserves
• Non-Conforming / Jumbo Loans
  • No MI
  • Up to $2 million
  • Financing from 90% to 100% depending on loan size - $1.25m max 100%
  • Minimum credit score: 720
  • Max DTI: 45%
  • Reserves range from 2 to 8 months

Other Key Guidelines

• Owner-occupied only (no second homes or investment properties)
• Gift funds allowed
• Deferred student loans (12+ months) can be excluded from DTI
• Must meet automated underwriting (AUS) requirements
• Appraisals required (2 for high-value, high-LTV loans)
• No mortgage insurance required

Eligible Properties

• 1–2 unit homes
• Condos (warrantable and non-warrantable)
• Leasehold properties (must meet agency guidelines)

Ineligible Properties

• 3–4 units, co-ops, timeshares, condotels, manufactured homes

This program is especially helpful for new doctors or dentists starting out, as it allows you to close up to 90 days before starting a new job with a signed contract.

If you'd like a rate quote for this program, I can give you one right here on Reddit - be sure to mention your a physician in your request:   https://www.reddit.com/r/HomeLoans/s/gcHIRSg995